Developer Prologis is to speculatively develop more than 1.2 million sq ft in five distribution centres and across the UK.
It is starting on site with two units of 215,000 sq ft and 85,000sq ft at the third phase of Prologis Apex Park in Daventry, which will complete in April 2016. At Prologis Park Dunstable, it will build a 358,000 sq ft facility, which will be ready for occupation in March 2016.
In the West Midlands at its Prologis Park Ryton it will build two facilities of 141,500 sq ft and 328,000 sq ft; both buildings will complete in the spring of 2016.
Designed to help customers improve their operational efficiencies, each distribution centre will include a rooftop solar installation that will generate ten per cent of the building’s regulated energy. Each facility will be constructed to achieve a minimum BREEAM ‘excellent’ accreditation and the best possible EPC rating for its size.
Prologis will also build its first small-unit scheme in the UK at Prologis Dawley Road at Hayes in West London. Offering a total of 120,420 sq ft in six buildings ranging in size from 2,870 sq ft to 52,540 sq ft, Prologis Dawley Road will complete in April 2016. Prologis Dawley Road is three miles from Heathrow Airport, in a well-established industrial location that offers convenient access to the M4 and M25.
“This new phase of speculative development builds on the success of the 1.5 million square foot programme we began in a measured way at the end of 2013,” said Andrew Griffiths, managing director, Prologis UK. “With the vacancy rate for Class-A industrial and distribution buildings across UK markets at 2.1 per cent, it’s imperative we anticipate demand and ensure we have a range of modern, high-quality facilities in prime locations across the Midlands, London and the South East.”
The first phase of Prologis’ new speculative development programme includes six distribution centres, five of which were let while under construction or shortly after completion. The sixth building, a 316,000 sq ft joint venture with DP World London Gateway at the London Gateway Logistics Park, will complete this autumn.