Peruvian Wharf has been protected since 1997 under the Mayor of London’s policy to safeguard strategically placed wharfs for cargo handling.
The PLA completed the acquisition of the site after a long battle over the wharf’s planning status, subsequently acquiring the site when the former landowner didn’t reactivate it for cargo-handling.
"We’ve fought long and hard to get Peruvian Wharf back into use," explained PLA chief executive, Robin Mortimer. "It’s ideally placed to service East London’s growth, underlining the importance of retaining strategically located sites for cargo handling.
"The river will play a key role in servicing the construction of at least 260,000 new homes and communities, offering 360,000 jobs. This will help keep tens of thousands of lorries off London’s roads every year, reducing air pollution and improving local people’s quality of life."
The PLA will initially completre a new access road to the site, prior to letting it on a long-term lease to independent construction and materials group the Brett Group who will work on an integrated terminal on the site.
Deputy mayor for transport, Val Shawcross welcomed the news. She said: "Over two million tonnes of cargo are moved between wharves on the Thames each year.
"This keeps more than 150,000 lorry trips off London’s roads, reducing congestion and pollution. We look forward to seeing Peruvian Wharf back in use and serving construction projects in East London as soon as possible."