The £38.1m from Canada Life will forward-fund the first phase of development including an 81,000 sq ft foodstore pre-let to Sainsbury’s.

Cross Quarter also has planning consent for 220 residential apartments and 5,000 sq ft of retail and commercial space on the ten acre site.

Demolition works on the first phase have commenced ahead of construction starting later this year with a targeted completion in Q2 2015.

Matthew Weiner, Development Securities said: “Abbey Wood is set to significantly benefit from the arrival of Crossrail and our investment here supports our activities in suburban London locations which are well-connected and positioned for growth.

“This is an important milestone for Cross Quarter and we look forward to bringing the development to completion.”