Prologis UK has acquired a further 11.58 acres of development land in Hemel Hempstead. The land, acquired from Aviva Investors, is adjacent to Prologis Park Hemel Hempstead - the property company’s new logistics park in the area.
The additional land will enable the company to expand Prologis Park Hemel Hempstead to cope with growing demand from both local and national companies, as Paul Hanley, Leasing & Development Officer for Prologis explains:
“Prologis Park is our newest industrial and logistics park in the South East and is attracting interest from both local and national companies thanks its proximity to London and the range of building sizes available. 72% of the park is already leased, and we completed a trio of lettings before Christmas with Hermes Parcels, Riwal UK and Nile Trading signing leases before the park was complete.
Prologis already owns four distribution buildings on the Maylands Industrial Estate and, once complete, Prologis Park Hemel Hempstead will provide over 750,000 square feet of industrial and logistics space, giving the company a development footprint of over 1.4 million square feet in the area.
The announcement further underlines the company’s commitment to Hemel Hempstead, as Gary Stringer from Hemel Hempstead Business Ambassadors explains:
“Over the past 20 years, Prologis has invested £100 million in the industrial logistics buildings on Maylands Business Park and Prologis Hemel Hempstead marks a new chapter in the company’s investment in the local economy which amounts to a further £80 million and the creation of 750 new jobs.”