Dagenham Ford Factory has new owner

After remaining closed for the past three years, the Ford Factory in Dagenham has been bought by Europa Capital and St Congar Land for around £26 million, according to the Land Registry. The investors intend to develop a residential led mixed-use project on the 42-acre brownfield site with over 2,650 homes to be completed. The factory stood in east London for almost 90 years during which it became one of the most renowned plants in the country. Hugo Black, Director of Europa Capital Partners, commented on the firm‘s new purchase: „The shortage of housing stock in London can only be realistically addressed by developing eastwards. With a railway station adjacent to the site providing a journey time to the City of less than 20 minutes, the site represents an exciting opportunity in one of best value for money areas of London.“ The project forms part of Europa Capital‘s pan-European investment fund, Europa Fund IV. Since 1995 the firm has raised nine closed ended real estate funds, investing in over 90 transactions valued at more than 9 billion Euro across 19 European countries.