Plans for a £300 million waterfront development expected to deliver around 1,000 homes on the River Roding will be submitted for approval this summer to Be First, Barking and Dagenham Councilís pioneering urban regeneration company.
Housebuilder Weston Homes has agreed with Estates & Agency Properties to acquire two neighbouring land sites, extending to 2.43ha, on the edge of Barking town centre at Abbey Road.
Occupying the majority of the former Abbey Retail Park, the housebuilder's plans include the transformation of the riverside and the provision of a range of community-based commercial spaces including a new riverside gastro-pub/restaurant and retail.
The redeveloped site will have a waterfront promenade, pedestrian pathways and landscaped grounds.
Bob Weston, chairman and chief executive of Weston Homes, said: "Attracting new people and inward investment, this new residential destination for Barking will provide private sale homes and much needed affordable housing for local people and families on lower household incomes".
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…