Hi Logistics, a specialist logistics subsidiary of LG Electronics has secured its first UK distribution hub, with a pre-let at Prologis Park Ryton in the West Midlands.
As well as being the company’s first in the UK, the 165,200 sq ft facility is also the first building to be let under the terms of the build-to-suit five-year lease initiative that Prologis launched in 2012. Since the building already has detailed planning permission, construction work can start on site at the beginning of September.
“This new building is an important step towards establishing our own distribution network in the UK, said Dongcheol Kim, vice presidentofHi Logistics.
“We are working to a tight timetable, so we began our search by looking for an existing warehouse. However, we are confident that Prologis can deliver a new facility that will suit our requirements exactly and that it will be ready to meet our operational deadline.”
Hi Logistics is expanding its international logistics business alongside LG Electronics – a global leader in consumer electronics, mobile communications and home appliances. Hi Logistics, an established Prologis customer, already occupies facilities in The Netherlands, Poland and the United States, while LG Electronics is a Prologis customer in Mexico.
The new distribution centre at Prologis Park Ryton has been designed to achieve a minimum BREEAM ‘very good’ accreditation and the best possible EPC rating for its size. The facility is strategically located at the heart of the motorway network, within easy reach of the M6, the M69 and the M40/M5.
“Prologis has a strong global relationship with Hi Logistics and LG Electronics, so we are delighted to be working together in the UK, said Andrew Griffiths, managing director of Prologis UK.
“We have invested in our prime sites to create the best opportunities in the market for our customers and we are pleased that we are able to meet Hi Logistics’ requirements at Ryton.”
North Rae Sanders, Jones Lang LaSalle and Gerald Eve acted for Prologis.