Sanofi sells ten acres of land to Sainsbury's as part of "businesseast" regeneration program
Jones Day has acted for global healthcare company, Sanofi, in relation to the sale of ten acres of land at its manufacturing plant in Dagenham, East London to Sainsbury’s, on which Sainsbury’s plans to build a supermarket and petrol station as part of the Sanofi ‘businesseast’ regeneration program.
The deal is conditional on Sainsbury’s securing planning permission for a new 60,000 square feet store, which would include a customer café, colleague canteen, petrol station and carwash along with parking for around 500 cars. An outline application for the regeneration of the site was approved by Barking and Dagenham Council in March 2012.
Sanofi’s manufacturing plant, which has produced life-saving medicines for more than 78 years, ceases operations next year. The company has embarked on a regeneration program aimed at transforming the 108-acre site into a business, science and retail park – creating around 2,000 new jobs overall.
Sanofi is also retaining some existing specialist research & development and manufacturing buildings on the site in a bid to attract new science, manufacturing and technology-related businesses to locate at Dagenham.
Jones Day London lawyers provided environmental, real estate, and construction advice in regard to the transaction.