Contractor to build supermarket and retail development in town centre
The development arm of contractor Bouygues has reached financial close on the £50m Barking Town Centre regeneration scheme.
Bouygues Development announced it had reached financial close with the London Borough of Barking & Dagenham yesterday.
The mixed-use project, designed by Chetwoods Architects with Assael Architecture, will see the developer build a 15,000ft2 retail store for Asada with 100 residential apartments above.
There will also be a 350 car parking spaces on the lower ground and ground floors and a selection of other retail units.
The development will be build by contractor Bouygues UK and landlord Grainger has agreed to purchase the apartments.
Nicolas Guerin, managing director of Bouygues Development, said reaching financial close was a “significant stage of the regeneration of Barking Town Centre”.
He added: “This mixed-use project illustrates our expertise in integrating harmoniously a large supermarket with a residential scheme.”
Work will start in December 2012 and is due to complete in 2015.