Development Securities, in joint venture with Berkshire Investment Capital and Gallions Housing, have announced that it has signed an agreement with Sainsbury's for the pre-let of a 46,000 sq ft sales area food store, subject to planning, to anchor its mixed-use regeneration project, Cross Quarter, in Abbey Wood, South East London.

-- Advertisement --

Currently a 10-acre vacant industrial site, Cross Quarter will create a new mixed-use neighbourhood scheme including affordable and private homes, a new hotel, commercial space and community facilities.

Development Securities and Berkshire Investment Capital acquired the 3.67 acre vacant industrial site in Abbey Wood in May 2011 for £2.75 million and simultaneously entered into a joint venture agreement with adjoining land owner, Gallions Housing to create a larger 10 acres of land for mixed use development.

(CD/GK)