Be First buys Barking’s Welbeck Wharf for £28m
Barking and Dagenham’s development agency Be First has bought Welbeck Wharf for around £28m.
It acquired the 9.25-acre site on the lower River Roding from Seabrook Holdings and Montpelier Pension Trustees.
The council will lease the site back to Seabrook, which has a 165,000 sq ft warehouse on the site and will move to its new premises in Thurrock within two years.
Barking and Dagenham’s development agency Be First has bought Welbeck Wharf for around £28m.
It acquired the 9.25-acre site on the lower River Roding from Seabrook Holdings and Montpelier Pension Trustees.
The council will lease the site back to Seabrook, which has a 165,000 sq ft warehouse on the site and will move to its new premises in Thurrock within two years.
During this time, Be First will develop a masterplan for a mixed-use scheme that seeks to include industrial space, in line with the Mayor of London’s commitment to ensure strategic industrial land is retained. It will also look to deliver office and residential space.
Be First development director Ed Skeates said: “Buying this land gives Be First a range of exciting options to regenerate one of London’s forgotten waterfronts. It means bringing in new businesses and thousands of jobs to Barking and Dagenham, and will continue to mean London’s future is in the east.”
Mike Seabrook, owner of Seabrook Holdings, said: “Seabrook has been an established part of the Barking business community for a number of years and we look forward to conducting business as usual from Welbeck Steel for several years to come.”
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