SEGRO appoints Readie Construction at SEGRO Park Rainham
First phase of the £180 million East Plus regeneration. Readie are committed to SEGRO’s Supply Chain Initiative
SEGRO plc ('SEGRO') has appointed Readie Construction, the Havering-based industrial construction specialist, as Main Contractor for the first phase of its SEGRO Park Rainham development in East London, which broke ground on 1 November 2016. , previously known as Beam Reach 5, is a 333,000 sq ft Grade A development which forms the first part of the East Plus development scheme.
SEGRO was chosen as the Greater London Authority’s (GLA) development partner for East Plus in October 2015. The redevelopment, which covers 86 acres of brownfield land across Newham, Barking & Dagenham and Havering, is set to deliver 1.4 million sq ft of industrial space over the next 10 years and will act as a catalyst for the wider regeneration of London Riverside.
The site is ideally situated adjacent to the A13 with excellent connectivity to central London and the M25 motorway. Close proximity to the Port of Tilbury and London Gateway Docks also means the site is well positioned for businesses reliant on import and export markets.
Construction at SEGRO Park Rainham will be completed in two phases. Readie Construction will be responsible for the delivery of phase one, which will provide 230,000 sq ft of modern speculative industrial space. The development will consist of an ‘Enterprise Quarter’ with 42 units ranging from 500 sq ft to 2,000 sq ft, designed to attract and grow start-up and small businesses. The plans also include another plot for three units ranging from 15,000 to 22,000 sq ft and two detached units of 52,000 sq ft and 66,000 sq ft.
Phase two, which will be developed on a pre-let basis, will see the construction of one detached industrial unit of 102,984 sq ft.
As part of its contract, Readie has committed to SEGRO’s Supply Chain Initiative, which is designed to help local SMEs compete for a range of tender opportunities as part of the construction process. Local suppliers that sign up to the initiative and meet the eligibility criteria will be considered by Readie as potential sub-contractors for the development. SEGRO and Readie will also deliver a “Meet the Buyer” event to promote the construction work packages that are available to tender by local suppliers.
It is anticipated that the completed development could deliver up to 1,000 direct jobs and SEGRO is working in partnership with Havering Council to deliver a dedicated skills, training and employment programme to support both construction and occupation of the development.
Alan Holland, SEGRO’s Business Unit Director for Greater London, said:
“I’m pleased to announce the appointment of Readie as Main Contractor at SEGRO Park Rainham. As local specialist contractor, Readie is well placed to take this significant project forward. Just one year on from signing the largest public / private partnership of its kind with the GLA, we are already making great progress at East Plus. The development will act as a catalyst for regeneration of the wider London Riverside, bringing to life parts of East London which have lain derelict for over a decade and deliver modern industrial space for a range of businesses.
“Our Supply Chain Initiative, which will be implemented by Readie at SEGRO Park Rainham, will ensure that local suppliers have the opportunity to benefit from significant opportunities throughout the construction phase.”
Stuart Read, Readie’s Managing Director said:
“We are delighted to be appointed as Main Contractor at SEGRO Park Rainham. We are a local contractor and our wide knowledge of the local subcontractor, supplier and labour market will enable us to implement the SEGRO supply chain initiative across the East London area. Opportunities will be created for local labour and businesses to contribute to the regeneration of key employment areas, we are proud to be able to play a key role in the delivery of this major regeneration project”
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages over six million square metres of space valued at £8 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in nine other European countries.
Readie Construction is a £100m turnover main contractor specialising in the delivery of new build, refurbishment and fit-out projects working in various industrial, retail, commercial and infrastructure sectors. The company is privately owned, established in 2008 it operates throughout the South, South East and Midlands. Readie have constructed over three million square feet of warehouse space over the past year.