Property – Logistics Manager Magazine https://www.logisticsmanager.com Pan-sector news, insight and analysis for logistics practitioners and supply chain strategists Thu, 20 Jun 2019 09:08:55 +0000 en-GB hourly 1 https://wordpress.org/?v=5.2.2 Valor to develop 153,000 sq ft urban logistics park in South London https://www.logisticsmanager.com/valor-to-develop-153000-sq-ft-urban-logistics-park-in-south-london/ https://www.logisticsmanager.com/valor-to-develop-153000-sq-ft-urban-logistics-park-in-south-london/#respond Thu, 20 Jun 2019 09:08:55 +0000 https://www.logisticsmanager.com/?p=37504 Valor Real Estate Partners is to push ahead with a 153,000 sq ft speculative urban logistics park in Mitcham, south London with a £27 million loan from Investec. The site was acquired in January 2019 and Valor proposes to redevelop the existing c. 110,000 sq ft estate into modern trade counter and mid box units ranging […]

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Valor Real Estate Partners is to push ahead with a 153,000 sq ft speculative urban logistics park in Mitcham, south London with a £27 million loan from Investec.

The site was acquired in January 2019 and Valor proposes to redevelop the existing c. 110,000 sq ft estate into modern trade counter and mid box units ranging from 5,000 sq ft to 85,000 sq ft, suitable for a diverse range of occupiers. The site also has the potential to cater to single tenant build-to-suit requirements.

Matthew Phillips, principal at Valor, said: “As London’s industrial supply and demand imbalance continues to grow, this site will provide high specification new product with prime access to the densely populated submarkets.”

The 48-month loan will support Valor through the planning, development and stabilisation periods. Erin Clarke, at Investec Structured Property Finance, said: “The growing appeal of urban logistics has been well-documented as consumer habits have evolved; the rise of e-commerce and increasing demand for same day delivery make sites like this near large cities very attractive.”

 

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M&G Real Estate buys Northampton site https://www.logisticsmanager.com/mg-real-estate-buys-northampton-site/ https://www.logisticsmanager.com/mg-real-estate-buys-northampton-site/#respond Tue, 18 Jun 2019 13:02:58 +0000 https://www.logisticsmanager.com/?p=37443 M&G Real Estate has acquired a 274,000 sq ft multi-let industrial estate in Northampton from Pears Property Group. The Brackmills Central industrial estate comprises 32 units and is currently fully let to 23 tenants who service both local and national markets.

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M&G Real Estate has acquired a 274,000 sq ft multi-let industrial estate in Northampton from Pears Property Group.

The Brackmills Central industrial estate comprises 32 units and is currently fully let to 23 tenants who service both local and national markets.

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Work starts on London Gateway warehouse https://www.logisticsmanager.com/work-starts-on-london-gateway-warehouse/ https://www.logisticsmanager.com/work-starts-on-london-gateway-warehouse/#respond Mon, 17 Jun 2019 14:09:01 +0000 https://www.logisticsmanager.com/?p=37417 DP World has started work on a 231,000 sq ft warehouse at the London Gateway Logistics Park. The facility, named LG231, is due to be ready for occupation in December 2019. Readie Construction is the principle contractor for the warehouse which will have 12.5 metre clear eaves height, 68 HGV spaces – including 28 dock […]

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DP World has started work on a 231,000 sq ft warehouse at the London Gateway Logistics Park.

The facility, named LG231, is due to be ready for occupation in December 2019.

Readie Construction is the principle contractor for the warehouse which will have 12.5 metre clear eaves height, 68 HGV spaces – including 28 dock levellers – and 50kn/sqm floor loading.

Other occupiers on the park include: UPS, Lidl, Made.com, CMA CGM, Halo and Dixons Carphone.

Park development director Oliver Treneman said: “Interest in the logistics park is high, with around four new leases having been signed in the last 18 months. This new facility gives us the ability to meet the growing needs of our customers quickly with a high-spec building, which – above all – offers unrivalled flexibility.

 

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Magna Park expansion gets planning permission https://www.logisticsmanager.com/magna-park-expansion-gets-planning-permission/ https://www.logisticsmanager.com/magna-park-expansion-gets-planning-permission/#respond Mon, 17 Jun 2019 14:07:36 +0000 https://www.logisticsmanager.com/?p=37429 Gazeley has now been given outline planning permission for its 4.5 million sq ft expansion of Magna Park at Lutterworth. Harborough Council had refused planning on the site in January 2018, despite the council’s own planning committee approving the scheme in November 2017 by just one vote – within days the scheme was called in […]

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Gazeley has now been given outline planning permission for its 4.5 million sq ft expansion of Magna Park at Lutterworth.

Harborough Council had refused planning on the site in January 2018, despite the council’s own planning committee approving the scheme in November 2017 by just one vote – within days the scheme was called in for review by the full council and was rejected by 12 votes to 10.

However, in April, an independent planning inspector allowed an appeal against the decision to refuse planning permission.

Inspector Neil Pope, who overturned that ruling, said that the benefits of the proposal outweighed any harm that had been identified as part of the consideration of the application and appeal. The benefits of the scheme include 4,500 jobs, and a venture that would contribute £277 million a year to the local economy.

Last week, Gazeley said in a post on Linked In: “Gazeley are very proud to announce, we have secured outline planning permission for a 4.5m sq ft expansion of Magna Park at Lutterworth, Leicestershire. A very long journey lasting 3.5 years but a very rewarding outcome.

“Thank you to all who helped us along the way!

“A new and exciting logistics cluster opportunity awaits…”

Gazeley wins Magna Park planning appeal

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Property investor commits to nearly 1m sq ft of speculative space in Midlands https://www.logisticsmanager.com/property-investor-commits-to-nearly-1m-sq-ft-of-speculative-space-in-midlands/ https://www.logisticsmanager.com/property-investor-commits-to-nearly-1m-sq-ft-of-speculative-space-in-midlands/#respond Mon, 17 Jun 2019 08:30:35 +0000 https://www.logisticsmanager.com/?p=37415 Real estate asset managers AEW and Allianz, is building two speculative logistics facilities totalling just under 1 million sq ft in the Midlands as part of a recently launched UK logistics venture. It is building a 525,000 sq ft cross–docked warehouse at the East Midlands Distribution Centre (EMDC), which it acquired with planning permission from […]

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Real estate asset managers AEW and Allianz, is building two speculative logistics facilities totalling just under 1 million sq ft in the Midlands as part of a recently launched UK logistics venture.

It is building a 525,000 sq ft cross–docked warehouse at the East Midlands Distribution Centre (EMDC), which it acquired with planning permission from CWC Group.

Due for practical completion in December 2019, the new-build project will have 50m yards on both sides with a clear haunch height of 18m. The building which is now under construction will be completed to EPC ‘A’ and offer a BREEAM ‘Very Good’ rating.

The building is located on a 25 acre site next to the 1 million sq ft M&S national distribution centre. The scheme has motorway connections onto the M1 at Junction 24a and positioned less than 5 miles from East Midlands Airport.

Charlie Royle, director at AEW UK Investment Management, remarked: “When complete this facility will be one of the largest speculative buildings of its type anywhere in the UK and will provide occupiers choice in this supply starved market. We are currently seeing a national shortage of prime, well located, energy efficient warehousing – and have already had interest from a number of tenant prospects.”

A second deal has seen the joint venture acquire Fradley 432, a speculative 431,500 sq ft logistics facility at Fradley Park in Lichfield, West Midlands from Evans Property Group. Evans will also develop the site for AEW as part of the agreement.

Due for practical completion in Q1 2020, the proposed new build will have a 100m yard with a clear haunch height of 15m.

AEW has appointed McGuiness Waddington Real Estate and Avision Young as joint letting agents for Fradley 435, while Franck-Steier Price acted for AEW on the acquisition.

Earlier this year AEW announced that Allianz had committed €290m towards a develop-to-core UK logistics venture, managed by AEW.

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London faces massive warehouse shortfall https://www.logisticsmanager.com/london-faces-massive-warehouse-shortfall/ https://www.logisticsmanager.com/london-faces-massive-warehouse-shortfall/#respond Fri, 14 Jun 2019 08:39:10 +0000 https://www.logisticsmanager.com/?p=37396 According to research from Savills, London is set to require up to 6.49 million sq ft of warehouse space per year, a 419 per cent increase on current levels,  in order to keep up with the delivery of new homes in the capital. The British Property Federation’s (BPF) ‘What Warehousing Where?’ report states that, at […]

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According to research from Savills, London is set to require up to 6.49 million sq ft of warehouse space per year, a 419 per cent increase on current levels,  in order to keep up with the delivery of new homes in the capital.

The British Property Federation’s (BPF) ‘What Warehousing Where?’ report states that, at a national level, 69 sq ft of additional warehouse space will be needed per home in order to fulfil deliveries generated by the growth in online retail, which now accounts for as much as 21.4 per cent of all retail transactions in the UK.

Savills has calculated that in order to meet current demand for housing in the capital, London will need to build up to 94,000 homes per year. At present, based upon the five year average, only around 1.25 million sq ft  of industrial development is completed annually in London, suggesting a potential short fall of 5.24 million sq ft  of warehouse space a year.

Kevin Mofid, head of industrial research at Savills, said: “The delivery of additional homes in London will mean further warehouse space is needed to service them. The hinterland of London has traditionally seen a disproportional amount of warehouse space developed. As our population grows and shopping habits change  it is crucial to safeguard industrial development land as robust urban logistics networks are what allows us to continue to receive our next day deliveries and one-hour delivery slots.”

Bridget Outtrim, director in the industrial & logistics team, added: “It is definitely a step in the right direction that the GLA has recognised the importance of retaining industrial space in the city. However, these figures prove that we still have a long way to go. We now need to ensure that we are creating the right type of space which includes B8 distribution uses and a recognition of the importance of yard space so that we can continue to successfully service homes across the capital.”

Retailer hit tipping point for future warehousing needs

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£150 million logistics warehouse plan for Leeds https://www.logisticsmanager.com/150-million-logistics-warehouse-plan-for-leeds/ https://www.logisticsmanager.com/150-million-logistics-warehouse-plan-for-leeds/#respond Fri, 14 Jun 2019 08:36:57 +0000 https://www.logisticsmanager.com/?p=37393 Peel Logistics Property (PLP) has submitted plans for a £150 million logistics development  in Leeds. PLP has submitted a reserved matters planning application for about 900,000 sq ft of prime urban warehouse space at PLP Gateway 45, Leeds. Subject to planning approval, PLP intends to build four warehouse units ranging from  60,000 sq ft to 400,000 sq ft, on a […]

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Peel Logistics Property (PLP) has submitted plans for a £150 million logistics development  in Leeds.

PLP has submitted a reserved matters planning application for about 900,000 sq ft of prime urban warehouse space at PLP Gateway 45, Leeds. Subject to planning approval, PLP intends to build four warehouse units ranging from  60,000 sq ft to 400,000 sq ft, on a speculative and pre-let basis on he 43-acre site. Speculative construction is expected to begin in the first quarter of 2020.

The company believes that PLP Gateway 45 is a key strategic site given that it will be the only consented urban logistics development that is able to satisfy large scale occupiers of more than 300,000 sq ft within the Leeds City Region;

Hugh Chesterton, development director at PLP said: “PLP Gateway 45 is a prime example of the company’s ambitions to create nationally significant ‘edge of conurbation’ logistics parks with immediate access to improving infrastructure.

The site benefits from access to the M1 motorway via Junction 45, improving local infrastructure, housing supply and occupier amenities, and Government Enterprise Zone status.

PLP is owned by MIRA Real Estate, Peel Group, Ivanhoé Cambridge and its senior management team.

 

PLP acquires 4 logistics sites

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National parcel distributor snaps up Northampton shed https://www.logisticsmanager.com/national-parcel-distributor-snaps-up-northampton-shed/ https://www.logisticsmanager.com/national-parcel-distributor-snaps-up-northampton-shed/#respond Wed, 12 Jun 2019 10:20:34 +0000 https://www.logisticsmanager.com/?p=37349 M7 Real Estate has let a 22,404 sq ft warehouse unit to a national parcel carrier in Northamptonshire. The unnamed company has signed a 15-year lease on the 22,404 sq ft distribution unit at Raven’s Way, Crow Lane Industrial Estate, in Northampton. The unit has undergone an extensive programme of refurbishment including a new roof […]

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M7 Real Estate has let a 22,404 sq ft warehouse unit to a national parcel carrier in Northamptonshire.

The unnamed company has signed a 15-year lease on the 22,404 sq ft distribution unit at Raven’s Way, Crow Lane Industrial Estate, in Northampton.

The unit has undergone an extensive programme of refurbishment including a new roof and improved floors and external areas. The warehouse site is very secure with extensive palisade fencing and a gated entrance.

James Hill of letting agent LSH said: “The move enables the occupier to expand its delivery services across the region..”

The property has 17,694 sq ft of warehouse space and 4,700 sq ft of offices over two floors. There are 40 parking spaces, 6.5 metre eaves height, and level access loading doors.

Crow Lane Industrial Estate is located three miles from Northampton town centre and five miles from junction 15 of the M1, via the A45 dual carriageway.

 

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St Francis acquires 130-acre site https://www.logisticsmanager.com/st-francis-acquires-130-acre-site/ https://www.logisticsmanager.com/st-francis-acquires-130-acre-site/#respond Tue, 11 Jun 2019 10:34:18 +0000 https://www.logisticsmanager.com/?p=37339 St Francis Group has acquired the former Eggborough Power Station site in Yorkshire totalling around 130-acres for an undisclosed sum which it intends to promote for a range industrial and logistics units in varying sizes. Occupiers with build to suit requirements will also be targeted.  “The underlying development potential must be strong to justify such […]

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St Francis Group has acquired the former Eggborough Power Station site in Yorkshire totalling around 130-acres for an undisclosed sum which it intends to promote for a range industrial and logistics units in varying sizes.

Occupiers with build to suit requirements will also be targeted.

 “The underlying development potential must be strong to justify such a purchase but the decommissioning, demolition and remediation capability we have within DSM is also a key driver for us. This is a challenging but very exciting project,” said DSM SFG Group Holdings Group chief executive, Rob Braid.

The power station was sold by Eggborough Power Limited, a subsidiary of Czech utility Energetický a Průmyslový Holding. It has retained adjacent land to construct a new gas-fired power station.

Barton Firtop expands at Kidderminster

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Speculative mid-box scheme completed on M62 corridor https://www.logisticsmanager.com/speculative-mid-box-scheme-completed-on-m62-corridor/ https://www.logisticsmanager.com/speculative-mid-box-scheme-completed-on-m62-corridor/#respond Tue, 11 Jun 2019 10:28:42 +0000 https://www.logisticsmanager.com/?p=37336 Marshall Construction has completed the development of a 150,000 sq ft speculative warehouse scheme at Junction 32 of the M62 corridor between Castleford and Pontefract on behalf of Gregory Property Group. The Park 32 scheme comprises four purpose-built units ranging from 12,000 sq ft up to 82,500 sq ft. Terms for the sale of the […]

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Marshall Construction has completed the development of a 150,000 sq ft speculative warehouse scheme at Junction 32 of the M62 corridor between Castleford and Pontefract on behalf of Gregory Property Group.

The Park 32 scheme comprises four purpose-built units ranging from 12,000 sq ft up to 82,500 sq ft. Terms for the sale of the first unit first unit at the £15 million development have already been agreed.

Andrew Foggitt, of Gregory Property Group, said: “We are pleased to complete the development of Park 32 which delivers against a current shortage of new, purpose-built commercial space within the M62 corridor.

Avison Young and Carter Towler have been appointed to market the scheme.

Rob Oliver, director at Avison Young, added: “Supply of new and modern space along the M62 corridor has been limited for some time.

“It is great to be bringing new product of a wide range of sizes to the market, and we are in dialogue with a number of occupiers in the area.

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