Tesco has bought a 35.2-acre site at Beam Reach 5, Rainham, Essex, for a 500,000 sq ft regional distribution hub.
The London Development Agency has exchanged contracts to sell the freehold of the site to Tesco, which, subject to planning consent, plans to build new regional distribution facilities in two main buildings.
The development by Spen Hill, the development arm of Tesco, will start as soon as planning permission has been obtained. A planning application is expected to be lodged imminently with the London Borough of Havering.
LDA head of development Steven Kidd said: “The LDA’s vision for Beam Reach is to give companies the benefit of a revitalised gateway to
The LDA has also agreed options for Tesco to purchase additional land at the 84-acre Beam Reach 5 site to enable further expansion of their support facilities and more local jobs.
Beam Reach 5 is situated directly alongside the A13 at the
In addition to Beam Reach 5, the LDA has two other developments sites in the area. Beam Reach 8, where there are a number of occupier opportunities across 11 acres and Beam Reach 6, a 17-acre development opportunity.
CB Richard Ellis, Kemsley, and North Rae Sanders advised the LDA; Lambert Smith Hampton advised Tesco.
paul.norman@estatesgazette.com
