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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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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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Logistics Manager Analysis: Big Sheds... A New Normal?

Liza Helps investigates.
It has been a tumultuous year and what we envisioned only a short six months ago is nothing like our reality now. Back in January and February, the prospects looked promising after the stop/start 2019 plagued with political uncertainty, then the coronavirus struck, and the country was plunged in to lockdown – it looked a bit grim.
But the pandemic has turbo charged the supply chain industry – the question is: is this the new normal?
“Across the board, property consultants,” says Paul Weston, Regional Head of Prologis UK, “are reporting record take-up.”
Indeed, the latest research from CBRE notes that take-up of UK logistics space is 111% higher than this time last year. Third-quarter take up levels have surpassed the record-breaking take-up levels in the second quarter of this year to reach a total of 13.33 million sq ft. ....

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