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GLP announces a further 2.3 million ft2 of speculative development in the UK

GLP announces a further 2.3 million ft2 of speculative development in the UK
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E-commerce fuels speculative warehousing in Golden Triangle

The developer is preparing to start work on warehouse space across seven units and four sites in Bedfordshire, Northamptonshire and Milton Keynes, following the grant of planning permission. It is the largest programme of speculative warehousing development currently underway in the UK.
The development programme has been launched to satisfy the significant demand in an increasingly supply-constrained logistics real estate market in the UK. It follows GLP’s completion of 1.25 million sq ft of speculative development at Magna Park South, Lutterworth in December 2020.
Demand for larger warehouses has significantly expanded in recent years, particularly among e-commerce occupiers in need of more storage space. According to Savills, online sales in December 2020 were 51% higher year-on-year, with this growth trajectory expected to continue. As a result, warehouse take-up was 50.1 million sq ft in 2020 – by far the strongest year on record. ....

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GLP announces 1 million sq ft spec development plan

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Investor and developer GLP, is starting the speculative development of 1 million sq ft of warehouse space across the UK – in a move that it claimed is the largest programme of speculative logistics real estate development currently underway nationwide.
It has started construction on seven units, across four sites in Bedfordshire, Northamptonshire and Milton Keynes, following the grant of planning permission.
The development programme has been launched to satisfy the significant demand in an increasingly supply-constrained market and follows the practical completion of 1.25 million sq ft of speculative development at Magna Park South, Lutterworth in December 2020.
“Demand for larger warehouses has significantly expanded in recent years, particularly among e-commerce occupiers in need of more storage space,“ said Bruce Topley, Managing Director, GLP UK. “The growth of e-commerce in the UK has been accelerated by the Covid-19 pandemic given the increas ....

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