NEWS

Thames Gateway developer Tilfen Land has secured its largest ever pre-letting on a strategically important development in Thamesmead.

Iron Mountain – the leading global provider of comprehensive records management, data protection and information destruction solutions – has signed an agreement for the lease of two buildings at White Hart Triangle.

Totalling 205,000 sq ft, on two leases with terms of 20 years, it will supply Iron Mountain with prime storage space on a development, which in all, comprises 52 acres and which will provide around one million sq ft of warehouse, production and office accommodation.

Nigel Houston, Tilfen Land’s Chief Executive Officer, says: “By anyone’s standards this is a major letting. That it forms part of an important development in an outstanding location is further proof of the appeal of this part of the Gateway and of the benefits and value for money it offers to business. Tilfen Land is delighted to welcome Iron Mountain to Thamesmead and to White Hart Triangle.”

Developed by Tilfen Land in association with the London Development Agency and Greenwich Council, White Hart Triangle occupies a prime location at the heart of the Thames Gateway. On the A2016 at the foot of the proposed Thames Gateway Bridge, the scheme and has a further 25 acres of land for design and build packages of up to 80,000 sq ft.

Glenny and King Sturge acted for Tilfen Land Limited.  Iron Mountain was represented by CBRE.

February 4, 2008

NOTE TO EDITORS
Photos of the White Hart Triangle development are available by contacting David Leck on
01322 528580/07710 326256.

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Thames Gateway developers Tilfen Land have announced practical completion of the first part of phase I of their White Hart Triangle business park development in SE London.

The £80m development will provide industrial and office units plus warehousing and distribution floor space. When completed, the scheme will deliver over 1 million sq ft of space on the 52 acre site, one of the largest projects of its kind in the Thames Gateway.

Phase I of the development comprises two high quality industrial park facilities named Sienna and Cobalt, covering the first 6 acres of the site. Sienna provides two terraces of seven industrial units, ranging in size from 6,000 to 8,500 sq ft and was completed in early May. Cobalt Park provides two terraces consisting of ten industrial/ warehouse units of steel portal frame construction with integral offices and a shared service yard. Units range in size from 6,500– 9,000 sq.ft and are available on a leasehold basis Cobalt is due for practical completion in June 2005.

The scheme spans two adjacent pieces of land owned by Tilfen Land and Greenwich Council that were previously inaccessible and required major infrastructure works, including a new access road and bridge, together with the clean-up of the contaminated land.

Phase II of the development will be Viridian Park and has outline permission for B1, B2 & B8 uses. Tilfen Land will consider Design & Build projects on the remaining plots on the site in partnership with an occupier on a freehold or leasehold basis.

Nigel Houston, Tilfen Land’s chief executive, said: “We are delighted with the progress of this regeneration and development project. White Hart Triangle has an ideal strategic location in the heart of the Thames Gateway. This major new business park will attract high quality inward investment and create 2000 jobs for new employers in the region.”

The White Hart Triangle development is located in the heart of the Thames Gateway with good access to both the City and West End, the M25 and national motorway network. The infrastructure connections will be further improved when the proposed Thames Gateway Bridge and Docklands Light Railway extension are completed over the next 10 years

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New milestone for £80 million development that will boost jobs and businesses in south-east London.

Plans to build a new £80 million business park that will provide up to 2,000 new jobs and attract new businesses to Greenwich and the South-East took a major step forward today when the Mayor of London handed over land for development.

The scheme, known as the White Hart Triangle, has been driven by the London Development Agency (LDA), the Mayor’s agency for business and jobs, in partnership with Tilfen Land and Greenwich Council. When completed, it will provide over one-million sq ft of space on a 52 acre site of previously derelict land situated between Thamesmead and Woolwich.

The development brings together two adjacent pieces of land owned by Tilfen and Greenwich Council that were previously inaccessible. Major infrastructure works have included a new access road and bridge together with the clean-up of contaminated land on the site. Tilfen Land will now use its expertise to build the business space, comprising new industrial and office units, plus warehousing and distribution floorspace, delivering one of the largest projects of its kind in the Thames Gateway.

Ken Livingstone, Mayor of London, said: "White Hart Triangle is one of London’s leading business parks and has the potential to create 2,000 new jobs for south east London. It is proof of the benefits of partnership and we look forward to working closely with government and other parties on more developments like this, which will make the Thames Gateway a better place in which to live and work, with local jobs and homes and excellent transport links to the rest of London."

Tony Winterbottom, Executive Director, Regeneration and Development at the LDA, said: “This project is a model for regeneration. It would not have happened without the intervention of the LDA and is also a tribute to our partners, the London Borough of Greenwich, Tilfen Land, the Government, and the European Union as well as Thames Water who helped make this possible. White Hart Triangle not only has the potential to generate new enterprise and jobs but most importantly engage the communities in this area. “

Public sector funding totalling £17 million is made up of £10 million from the LDA, £4.5 million from the ERDF (European Regional Development Fund) and £2.5 million from the Woolwich and North Bexley SRB (Single Regeneration Budget through the LDA) partnership.

Councillor Chris Roberts, leader of Greenwich Council, said: "We have long had ambitions about the development of this site, and the Council is pleased to have secured the European money that has been vital to the project going ahead. White Hart Triangle is a wonderful regeneration development for the borough, creating a high quality urban business park as well as of huge benefits in terms of jobs and the economic and social fabric of the local community."

Located near Plumstead railway station, the scheme will be developed in phases with construction due to start in the Spring this year. It is part of a wider set of development initiatives between the three partners including improvements to the West Thamesmead Business Park.

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£80 MILLION DEVELOPMENT WILL BOOST JOBS AND BUSINESSES IN SOUTH-EAST LONDON

Plans have been confirmed for the creation of an £80 million business park which will bring thousands of jobs and business premises to Greenwich and the wider Thames Gateway.
The White Hart Triangle development will consist of up to one million sq ft of space for various types of businesses. The 50-acre site, between Thamesmead and Woolwich, is currently derelict land.

The project is a joint venture between Tilfen Land, the London Development Agency (LDA) and Greenwich Council. It is expected to create around 2000 new jobs and has attracted £17 million of public sector funding for major infrastructure works including a new access road and bridge together with the clean-up of contaminated land on site.

The public sector funding is made up of £10 million from the LDA, £4.5 million from the ERDF (European Regional Development Fund) and £2.5 million from the Woolwich and North Bexley SRB (Single Regeneration Budget) partnership administered by the Woolwich Development Agency.

Michael Ward, chief executive of the London Development Agency, said: “White Hart Triangle is about creating jobs for local people and better premises for local firms. It is further proof the LDA is meeting its commitments in the Thames Gateway in bringing the public and private sectors together to make this part of London more attractive for potential investors. We look forward to working closely with government on more of these types of developments to make Thames Gateway a better place in which to live and work with excellent transport links and viable communities.”

The White Hart Triangle development brings together two adjacent pieces sites owned by Tilfen Land and Greenwich Council that have a number of logistical and access issues that have been addressed in order to make the project viable. The LDA will decontaminate the land and build a new access road and bridge to the site. Tilfen Land will use its expertise to build the business space, comprising new industrial and office units plus warehousing and distribution floor space, delivering one of the largest projects of its kind in the Thames Gateway South.

The development, which is located close to Plumstead railway station and has now received outline planning permission from the local authority, will be developed in phases over the next few years.

Councillor Chris Roberts, leader of Greenwich Council, said: “We have long had ambitions about the development of this site and the Council is pleased to have secured the European money that has been vital to the project going ahead.

“White Hart Triangle is a wonderful regeneration development for the borough, creating a high quality urban business park as well as of huge benefits in terms of jobs and the economic and social fabric of the local community.”

Tilfen Land, the LDA and Greenwich Council are also working through the Made in London programme to bring improvements to the West Thamesmead Business Park in Thamesmead.

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