LONDON-British Land has agreed to purchase a large Daily Mail printing plant in the Canada Water district here. The Daily Mail General Trust is selling the building on 14.6 acres for an undisclosed amount.
The Harmsworth Quays printing plant is now moving its operations to a new plant in Thurrock. British Land will take possession of the site in late 2013. David Dutton, a director with the trust, said in a statement that changes in technology led the push for a new plant.
The buyer already has properties nearby, including its partnership in the Canada Water regeneration program led by the Southwark Council. The project aims to deliver a new town center for the Rotherhithe district, with 2,700 new housing units, retail, office and public buildings, as well as a new civic square. British Land also has an interest in the adjoining Surrey Quays Shopping Centre. The company is investing $53 million into the center, expanding the property by 100,000 square feet.
Mike Rayner, development director at British Land, said the purchase reinforces the company’s confidence in the area. He did not comment on what would be done with the industrial building. Some nearby residents, including councilor Lisa Rajan, have said that the property could become a new school, or left as an industrial property, perhaps attracting sustainable technology, instead of adding thousands of more housing units.
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