25 March 2011
Realigning its land bank to meet emerging customer requirements, Prologis has launched a programme of strategic land disposals across the UK. At the same time, the company is seeking new sites to accommodate the large scale distribution facilities its customers increasingly require.
The land disposal programme includes plots at the award-winning Prologis Park Coventry; plots at Prologis Park Pineham, where Prologis is starting construction work on a new 457,546 sq ft facility for the BMW Group (UK) Ltd; together with consented land in Rugby, Mansfield and Newbury.
Andrew Griffiths, Managing Director of Prologis UK explained: "The industrial property market is showing some signs of improvements, so we are reshaping our current land bank to meet the demands of the new market.
"This new 460,000 sq ft facility will bring the total of occupied employment space build by Prologis in Northamptonshire up to nearly seven million square feet. This figure not only highlights the county’s importance as a distribution hub, it also represents 7,000 to 8,000 local jobs."
"As part of this process we have selected for sale some high quality sites that are in good locations but that do not fit with our business plan because they are smaller than a typical Prologis plot.
"We have received a great deal of pre-marketing interest in these sites and we have no doubt that they represent very attractive development opportunities."
For details of the sites available email: landopportunity-uk@prologis.com
