Strettons Sells 8.4-acre Canning Town Site

Strettons acts for Praedius on the sale of two prominent Canning Town sites in transactions that will see the creation of 871 new homes and a £750 million data centre investment

Strettons’ land specialists have advised on the sale of the adjacent 8.4-acre Crown Wharf and Mayer Perry Wharf sites in Canning Town on behalf of its client Praedius, the property company of EMR Metal Recycling.

The strategically located plots, which sit on the bank of the River Lea, have been split and sold in two significant transactions that highlight the strong demand for development sites in London.

4.65-acres of the site have been sold to a joint venture between L&G and Goldacre Ventures Limited which will deliver a £750 million sustainable, urban hyperscale data centre investment, together with development partner sineQN. The development is expected to create over a thousand skilled jobs during the construction and operation phases and is targeted to attract up to 500 high-growth data businesses to Newham.

As part of the planning approval, the data centre has the potential to be a heat source for thousands of homes in Newham and will aim to help the Council fulfil its net zero ambitions. The scheme will also provide significant environmental and public realm improvements along Bidder Street and connecting walkways along the Lower Lea Valley, from Canning Town to Stratford.

Barratt London has acquired 3.75 acres of the site. The land forms part of Barratt London’s wider plans for a major mixed-tenure scheme. The development will deliver 871 new homes, a mix of one, two and three bedroom properties and 24,000 sq ft of work, retail and café space, across seven buildings, with heights ranging from eight to 30 storeys, helping to meet the growing demand for quality homes in east London.

Aasia Pathan, Agency and Development Land Director at Strettons commented: “The demand for housing in east London remains strong and this transaction is the latest example of a brownfield site being brought forward for regeneration. Crown Wharf will sit opposite the London City Island, and I have no doubt it will become a sought-after location when complete.”

Neal Matthews, Agency Land Director at Strettons said: “The data centre scheme represents a Mayer Perry Wharf landmark investment in digital infrastructure, bringing significant economic value and future-focused businesses into Newham. The potential of the data centre to power local homes will be transformational and set a precedent for other similar developments across the country. The sale was the ideal outcome for all parties. I am very pleased that the deals have completed successfully and that planning for both sites has been approved.” 

Strettons acted on behalf of site owner EMR Metal Recycling’s property division, Praedius. Praedius is a specialist in land acquisition, regeneration and redevelopment.

Ian Nixon, Property Director at Praedius said: “These two transactions represent a significant milestone for the area, and we are proud to have played a role in unlocking the potential of the site.”

Eversheds Sutherland acted as legal representative for EMR/Praedius, while Luke Playford of Jigsaw Invest, acting as land agent, represented Barratt London on the sale.  

Strettons are regeneration specialists, working on behalf of landowners and developers to realise the value of their assets. Their multidisciplinary in-house teams advise across all stages of development, from site sale and planning through to disposal of completed schemes.