Over 900 jobs to be created in a new 500,000 sq ft regional distribution and processing facility.

The transaction confirms Beam Reach as a key east London regeneration and investment location for business and jobs.

The London Development Agency (LDA) has exchanged contracts to sell the freehold of 35.2 acres at Beam Reach 5, Rainham, Essex, to leading international retailer Tesco. Subject to planning consent, Tesco will build a new 500,000sq ft new regional distribution facility in two main buildings.

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The development by Spen Hill, the development arm of Tesco, will start once it gets planning permission. A planning application is expected to be lodged imminently with the London Borough of Havering.

Steven Kidd, London Development Agency Head of Development said: "The LDA's vision for Beam Reach is to give companies the benefit of a revitalised gateway to east London. This deal with Tesco will create jobs and add to our plans for modern manufacturing, commerce, housing, education and employment."

The LDA has also agreed options for Tesco to buy more land at the 84 acre Beam Reach 5 site to enable further expansion of their support facilities in future.

(CD/GK)