Out-Law News | 14 Apr 2014 | 2:40 pm |
Following the selection process, the preferred bidder will be tasked with creating a masterplan for a derelict industrial site which is owned by the GLA.
“This is a real opportunity to use publicly owned land to create a major industrial heartland,” said deputy mayor for housing, land and property Richard Blakeway according to a report by the Estates Gazette.
“Through sharing resources, new facilities and infrastructure, we aim to create a modern industrial zone, worth far more to London than the sum of its parts, that will help to unlock further production and innovation,” he added.
The GLA said it expects to select a partner early next year. The masterplan would be anticipated for the end of 2015, with speculative development to begin on the site in 2016.