The London Development Agency has concluded the sale of land at Beam Reach 5 in Rainham, Kent, to Tesco’s development arm Spen Hill.
The freehold sale of 35.2 acres of land paves the way for Tesco to build a 500,000 sq ft regional distribution and processing facility.
The proposed development received planning permission from the London Thames Gateway Development Corporation in February.
LDA head of development Steven Kidd said: “Beam Reach is a prime business location, well positioned at the gateway to London, with excellent transport links. This deal with Tesco will create hundreds of local jobs and add to our plans for modern manufacturing, commerce, housing, education and employment.”
Lambert Smith Hampton advised Spen Hill; CB Richard Ellis, Kemsley, and North Rae Sanders acted for the LDA.
samantha.mcclary@estatesgazette.com
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