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Greater London Authority targets development partner for £90m deal

The Greater London Authority has asked for views on how it could work with a development partner to dispose of industrial sites in east London.

The GLA is planning to find a development partner to develop and sell the sites belonging to Transport for London in Newham, Barking & Dagenham and Havering in a deal worth £60m to £90m.

It wants feedback on how a profit sharing arrangement might work, approaches to a disposal programme, how long the partnership would need to last, possible areas of conflict between the priorities of the GLA and develop and ways to engage other people and organisations with an interest in the schemes.

The organisation would expect to appoint a development partner on 10 June 2015 for the 10 year deal.

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