Shepherd and Wedderburn advises LDA on 35 acre sale
July, 2010 - Edinburgh, Scotland
Shepherd and Wedderburn has advised the London Development Agency (LDA) on the sale of a 35.2 acre site at its Beam Reach development in Rainham, Essex to international retailer Tesco.
Spearheaded by the LDA, Beam Reach is positioned as a leading location for investment by manufacturing companies. Located on the north bank of the Thames Gateway, it is one of the largest redevelopment projects ever undertaken.
Andrew Bond, partner in Shepherd and Wedderburn's London property team said: “This is a significant land sale for the LDA, which brings a big brand name to this exciting redevelopment project. The deal will help to stimulate the local economy through the creation of new jobs and help to encourage further investment in the area.”
Steven Kidd, London Development Agency Head of Development said: "The LDA's vision for Beam Reach is to give companies the benefit of a revitalised gateway to east London. This deal with Tesco will create jobs and add to our plans for modern manufacturing, commerce, housing, education and employment."
Tesco plans to build a new 500,000sq ft regional distribution and processing facility at the site.
