Developer reveals plans to build 1m sq ft of warehouse space
GLP, the investor and developer of logistics warehouses and distribution parks, has announced that it starting construction on 1m sq ft of warehouse space – including a site in Northamptonshire.
It is the largest programme of speculative logistics real estate development currently underway in the UK.
The move follows GLP’s completion of 1.25 million sq ft of speculative development at Magna Park South, Lutterworth in December.
The company will start construction on a 133,000 sq ft unit at G-Park Northampton, within the Moulton Park Estate. The scheme is expected to be ready for occupation by the summer.
Bruce Topley, managing director, GLP UK, said: “The growth of ecommerce in the UK has been accelerated by the Covid-19 pandemic given the increased importance of home deliveries. As a result, we have seen a surge in demand for logistics real estate in the right locations. Customers are also seeking to reinforce their supply chains and increasingly require higher specification buildings and cutting-edge sustainability credentials. In response to this, we are excited to be bringing 1m sq ft of high-quality logistics space to the market which reaffirms our confidence in the continued strength of the UK and follows the completion of over 1.5m sq ft of speculative development last year.
“We look forward to discussions with new and existing customers, working alongside them to meet their specific operational requirements and helping them grow their business.”