Land sale progress as ProLogis announces merger

THE Solihull-based head of ProLogis UK says the firm’s land sale policy is going well as the firm looks ahead to a new set-up after merging with rival AMB Property.

Earlier this year, logistics and warehouse property specialist ProLogis announced it was selling some of its “smaller sites” in the West Midlands including plots on ProLogis Park in Coventry and Central Park in Rugby.

Andrew Griffiths told TheBusinessDesk.com the firm would continue its sales strategy in line with the needs of its customer base while the tie-up with AMB, which has just been finalised, would strengthen its Chinese and South American operations.

“As we develop the land bank, we will take out the sites which aren’t appropriate for our customer base,” he told TheBusinessDesk.com.

“Hopefully, we will reinvest the money from the sales into sites which are key to our customers such as national plcs.

“The merger with AMB will give ProLogis a foothold in marketplaces that we are not quite as strong in such as China and South America.”

ProLogis UK is headquartered in Solihull, where it employs 35 people, and operates business parks across the West Midlands.

The merger of the two firms, both of which are headquartered in America, will see them operate under the ProLogis brand with a global portfolio worth £28bn in assets.

It is expected the deal will result in around £48m worth of annual savings across the new business.