City planners are set to to transform the 3.38 acre site at 75 Bugsby’s Way into one of the capital’s first multi-storey industrial buildings, in line with industrial intensification objectives laid out in Mayor Sadiq Khan’s London Plan.

The project forms part of the 20-year, £8.4bn regeneration plan for the Greenwich Peninsula, which will create seven new neighbourhoods, 17,500 new homes, and 48 acres of public green space.

•   Hilltop launches real estate funding and management platform
•   Sadiq Khan doubles council housebuilding target
•   Sadiq Khan launches £4m fund to help London boroughs build more council homes

The successful developer will enter an agreement with Greater London Authority Land and Property (GLAP) to design, develop and build the £107m scheme and will be granted a 250-year leasehold on the site.

Tom Copley, deputy mayor for housing and residential development, said: “The Mayor and I are committed to the regeneration of Greenwich, and other areas in London with significant potential for growth.

“The regeneration of 75 Bugsby’s Way into one of London’s first multi-storey industrial buildings will be a landmark moment, transforming the Greenwich Peninsula into a thriving hub for commerce and business.

“This is an exciting opportunity, and I look forward to securing a partnership which brings to life our vision for a more prosperous city for all Londoners.”