18
December
2018
|
16:09
Europe/Amsterdam

City Corporation acquires Barking Reach Power Station site

The City of London Corporation has today announced its acquisition of Barking Power Ltd including the Barking Reach Power Station site.

The 42-acre site in the London Borough of Barking and Dagenham will now be considered as part of the potential options for the City Corporation’s proposals to consolidate its three wholesale food markets; Billingsgate (fish), Smithfield (meat and poultry) and New Spitalfields (fruit, vegetables and flowers), onto a single site.

The site’s suitability will be considered alongside several other potential locations and sites of varying sizes, which continue to be explored to achieve the aim of delivering a market suitable for London’s future. A decision on a preferred option will be made following feedback from a public consultation in 2019.

James Tumbridge, Chairman of the Markets Committee at the City of London Corporation, said:

“I’m delighted we have achieved this major site purchase as a part of our vision for London and our markets.

“We will now be discussing this site as one of our options with traders, tenants, London bodies and wider stakeholders. We will evaluate it against those other options before a consultation in 2019.

“Our review and vision is to ensure a great future for our world-leading and iconic wholesale food markets.”

Parliamentary legislation will be required to approve any relocation. A Private Bill will be submitted to Parliament in due course.

Lambert Smith Hampton is the appointed property firm supporting with the search for a new site. Hogan Lovells International LLP acted as legal advisors on behalf of the City of London Corporation.

Notes to editors

The City of London Corporation is the governing body of the Square Mile dedicated to a vibrant and thriving City, supporting a diverse and sustainable London within a globally-successful UK. www.cityoflondon.gov.uk