City to acquire power station site

By Natalie Vincent - Thu 22 November 2018, 12:50 pm

The City of London Corporation is about to buy Barking Power Station site in east London for around £125 million, according to Property Week.

Beating stiff competition from retailer Amazon, the corporation was chosen as the preferred bidder by vendor Barking Power and is now in advanced negotiations to acquire the 17-ha site, which it intends to use to consolidate the Billingsgate, Smithfield and New Spitalfields food markets into one location.

The three sites could potentially unlock hundreds of millions of pounds for their redevelopment into commercial schemes.

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