Mayor seeks development partner for £107m Greenwich industrial project
The Mayor of London is seeking to regenerate a part of Greenwich in a £107m project.
Sadiq Khan is appealing for a development partner to work on the 3.38-acre site at 75 Bugsby’s Way, to turn it into a multi-storey industrial complex.
The plan is part of his objections to intensify industrial projects in the capital, and attract new business to London, in order to provide more jobs.
Looking for a project which will be sustainable, the developer which is successful will enter into a deal with the Greater London Authority’s Land and Property arm, to design and develop the £107m scheme. The successful candidate will get a 250-year lease on the site.
Tom Copley, Deputy 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 Bugsby’s 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.”
The Greenwich Peninsula is undergoing a 20year £8.4bn regeneration project, with seven new neighbourhoods, 17,500 homes and 48 acres of public space.