Slaughter and May is advising Legal & General on the long-lease of the Barking Eurohub Freight Terminal in East London to Network Rail, as well as the lease and leaseback of Network Rail’s adjoining site. The transaction will provide Network Rail with operational control of both sites, enabling the redevelopment of the area into a major international logistics hub. The project forms part of a government-backed initiative to help unlock cross-Channel rail freight capacity and is expected to support the wider regeneration of the Barking area. The transaction is expected to play a key role in enhancing the UK’s freight infrastructure and advancing the Government’s objectives for sustainable transport and economic growth.
Michael Barrie, Head of Real Estate (UK & Europe) at Legal & General said: "We are pleased to let this strategically important site to Network Rail, helping bring the Barking Eurohub site into full use. This deal supports vital investment in UK rail infrastructure, unlocking cleaner, faster freight links with Europe and reinforcing the government’s wider growth agenda."