Supermarket Sainsbury's has agreed the purchase of 10 acres of the Sanofi site in Dagenham for the construction of a 5500 metre store and petrol station.
The deal announced this week is expected to create some 400 jobs, but is conditional on detailed planning permission for the proposals being granted by the London Borough of Barking & Dagenham.
Outline permission for a supermarket at the Rainham Road South site, where pharmaceutical firm Sanofi is due to cease production next year, was granted in March.
Jim Moretta, Sanofi site leader for Dagenham, said the agreement with Sainsbury’s marked “an important milestone” in the regeneration process of the site.
“Securing a contract for development of the retail plot at the front of the site now enables us to concentrate our efforts on attracting businesses to the rest of the location,” he said.
Harriet Houlihan, London development executive for Sainsbury’s, said the new food store would provide “new jobs and training opportunities” in the local area.
The City of London Corporation is about to buy Barking Power Station site in east London for around £125 million, according to Property Week.
A £25 million grant for Barking and Dagenham Council will help it support new housebuilding over the next four years.
Councillor Darren Rodwell, the leader of Barking and Dagenham Council, has welcomed the decision to approve the proposed Beam Park…