A Birmingham developer has signed a £20 million deal that will see it play a key role in ensuring a long term legacy from the forthcoming Olympics.
Gallan Group has agreed terms with the Homes and Communities Agency (HCA) to regenerate part of London’s Olympic borough of Newham.
It will see the transformation of an existing 70,000sq ft site at Manor Road Retail Park on the main A13 road into London into a new retail complex.
The site, adjacent to Canning Town flyover and close to Docklands Light Railway, has pedestrian and vehicle links into Rathbone Market.
It was one of the first generation of retail schemes in the late 1980s but over the past years has fallen into disrepair and is no longer considered fit for purpose.
Marty Gallagher, director of Birmingham-based Gallan Group said: “We are thrilled to have agreed such an important deal, especially as there was stiff competition from a number of national developers.
“Gallan has always been recognised for its innovative approach and I believe that this, coupled with our experience and thorough understanding of the requirements, was key to the success of our bid.”
Gallan will submit a planning application within the next six months for the key site in the borough’s convergence programme with central London and the West End.
The deal is the third public sector partnership Gallan has agreed in the last 12 months and follows schemes with the West Midlands Police Authority and Birmingham City Council.
The company is poised to announce its next major appointment for a mixed-use development in London shortly.
Simon Herring, HCA sales manager, added: “Gallan is a well-established private company with an excellent reputation and it has enjoyed a number of successful partnerships in both the private and public sectors.
“We look forward to working with them to deliver this high profile and challenging project.”