By Liza Helps, Property Editor, Logistics Matters

THE COMPANY has signed a promotion agreement to bring forward the industrial and logistics scheme on a 48-acre plot on land west of Canvey Way/A130 Basildon.

It’s Richborough’s first project in Essex which the company said is ‘an important milestone reflecting our expansion into the South East and growing ability to secure opportunities across the country’.

Market evidence points to sustained demand across Basildon and South Essex, particularly for modern, larger units. “The proposed development would help address this shortage by providing flexible space for occupiers ranging from logistics businesses to advanced manufacturing and high-technology companies.”

It is thought the scheme once operational could support around 800 FTE jobs, generate approximately £121 million in Gross Value Added each year and contribute an estimated £2.9 million annually in business rates.