Prologis, a global owner, operator and developer of industrial real estate, today announced the formation of a 50/50 joint venture with DP World to develop a 316,000 square foot distribution centre at London Gateway Logistics Park.
The new facility, which will be built speculatively, is designed to offer flexible distribution space. The single-sided, 15-metre-high unit has a 55 metre yard and space for potential expansion. The building has been designed to achieve BREEAM 2011 ‘very good’ accreditation and the best Energy Performance Certificate (EPC) rating for its size.
The park, which is one of the largest multi-modal logistics hubs in Europe, is located next to the DP World London Gateway container port, on the north side of the River Thames. It is within easy reach of the M25 London orbital motorway and is connected to the national rail network. Strong demand has led to the development being taken forward and groundworks are now underway. The target date for the completed building is spring 2015.
“We are delighted to be developing this new unit with DP World at London Gateway Logistics Park,” said Andrew Griffiths, Managing Director, Prologis UK. “This is the best opportunity in the South East to offer multi-modal connectivity. The park has the potential to offer big cost savings and efficiencies for global supply chains and we believe it is a game changer for the UK market.”
Simon Moore, CEO DP World London Gateway, said: “I’m delighted to be able welcome a leading developer of industrial real estate to DP World London Gateway. I’m confident that this partnership will deliver a great development and I’m looking forward to seeing the building work start very soon.”
Peter Ward, commercial director, DP World London Gateway, said: “DP World London Gateway offers unique supply chain advantages. The location drives out logistics costs as we are closer to the UK’s major areas of consumption than other ports. In addition, London Gateway Logistics Park will help shape the future of the UK’s fast changing retail supply chains by allowing goods to be moved to homes and shops faster, more efficiently and reliably than ever before.”
He continued: “The Prologis facility will go through the new London Gateway Local Development Order (LDO) that is now in place to fast-track development. The LDO massively reduces the planning process, saving huge amounts of time and money, whilst protecting the environment. This is just one example of how we have worked to make it easier for industry to get the best solutions in place, quickly, efficiently and reliably, which is at the heart of what we aim to do.”