Europa Capital and St Congar complete Ford Dagenham sale
Europa Capital and joint venture partner St Congar Land have completed the £100m sale of the former Ford stamping works to housing association Peabody.
EG first reported Peabody had exchanged contracts to acquire the Dagenham Docks site last year.
The housing association will develop over 3,100 homes, of which more than 1,500 will be affordable, backed by an £83.7m affordable housing grant from the Greater London Authority.
Europa Capital and joint venture partner St Congar Land have completed the £100m sale of the former Ford stamping works to housing association Peabody.
EG first reported Peabody had exchanged contracts to acquire the Dagenham Docks site last year.
The housing association will develop over 3,100 homes, of which more than 1,500 will be affordable, backed by an £83.7m affordable housing grant from the Greater London Authority.
Europa Capital purchased the 44-acre site in 2016 on behalf of its value-add fund, Europa Fund IV. Working with St Congar it has undertaken extensive remediation and removed 322,000 tonnes of material.
Hugo Black, partner at Europa Capital, said: “Back in 2016 we recognised the massive potential of Dagenham Dock, a site rare in its scale and steeped in history.
“Demand for land in London on which to build affordably priced housing has outstripped supply for some time. Having undertaken a thorough remediation of the site, we have created land suitable for development of new homes.”
Europa Capital and St Congar were advised on the sale by Savills and Cushman Wakefield.
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Photo: Europa Capital
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