The dealership, outside Ford’s former factory at New Road, has operated from the three-acre site since the 1950s.
Ford is moving to a new site in Barking, paving the way for redevelopment of its Dagenham land as part of a larger Thames Gateway regeneration scheme.
London Development Agency has, with AXA, already assembled a larger site adjoining Ford Retail’s dealership site, which focuses on the Chequers Lane retail and industrial area.
Edwin Hill advised Ford Retail in the sale of its site, which comprises about 65,000 sq ft (6,000 sq m) in three interlinking buildings. The chartered surveyor also advised Ford in its negotiations with the London Borough of Barking and Dagenham over a new lease on the site to which it is relocating at Ripple Road, Barking.
Ford Retail has taken a new 25-year lease from Barking and Dagenham council and will redevelop the 3.5-acre site at Ripple Road for a new dealership of 46,875 sq ft.
The new Barking site will feature a wind turbine to follow the Mayor of London’s renewable energy requirements for new developments.
Ford Retail has also agreed a short leaseback with London Thames Gateway Development Corporation at its Dagenham dealership while the Barking site is redeveloped.