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London mayor seeks partner for £107m industrial development on Greenwich Peninsula
The London mayor is seeking a developer-led team for a £107m regeneration of an industrial site on the Greenwich Peninsula.
GLA Land and Property, City Hall’s development arm, is undertaking procurement for the 1.4-hectare site near the Blackwall Tunnel, currently occupied by a distribution warehouse.
According to the Greater London Authority (GLA), it wants to build “London’s first multi-storey industrial building” on the plot at 75 Bugsbys Way to attract new business to the area and create local jobs.
The site is part of the wider £8.4bn regeneration of the Greenwich Peninsula, which includes seven new neighbourhoods, 17,500 new homes and 48 acres of green space.
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The successful developer will enter an agreement with the GLA to design, develop and build the £107m scheme, and will be granted a 250-year leasehold on the site.
Tom Copley, deputy London mayor for housing and residential development, said: “The mayor and I are committed to the regeneration of Greenwich, and other areas in London with significant potential for growth.
“The regeneration of 75 Bugsbys Way into one of London’s first multi-storey industrial buildings will be a landmark moment, transforming the Greenwich Peninsula into a thriving hub for commerce and business. This is an exciting opportunity, and I look forward to securing a partnership which brings to life our vision for a more prosperous city for all Londoners.”
GLA Land and Property was set up in 2012 to oversee the development of City Hall’s estimated 635-hectare land holdings, which include large areas of former dockland in east London.
The site at 75 Bugsby’s Way is located near the Greenwich Village urban quarter and developer U+I’s 1,500 home development at Morden Wharf.
An overall winner will be announced in August 2023.
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