The GLA is undertaking a procurement for the development of 75 Bugsby's Way is a 3.4- acre industrial site on the Greenwich Peninsula. The site is owned by Greater London Authority Land & Property (GLAP) and is part of the London mayor’s development plans.
It is currently the site of a Menzies distribution centre but is deemed to have potential for more intensive industrial/logistics development.
The chosen developer will be invited to negotiate a 250-year leasehold to the land and enter into an agreement with GLAP to design, develop and build a new multi-storey industrial development. The successful developer will then need to find tenants to generate a return.
Mayor of London Sadiq Khan said: “GLA officers have identified two freehold sites in my industrial land portfolio for multi-storey developments, which will demonstrate proof of concept for this new typology, in accordance with policy E7 of the London Plan. GLA officers will be procuring an industrial development partner for the first site at 75 Bugsby’s Way on Greenwich Peninsula shortly. The site is 1.3 hectares and has the potential to deliver three-storeys of industrial accommodation. It is expected that GLA officers will select the preferred development partner in spring 2023, with a target start on site in summer 2024. Soft market testing has demonstrated strong interest in the site from potential partners.”
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