GLP Completes Acquisition of Central and Eastern Europe Logistics Real Estate Portfolio The completion of the acquisition of Goodman Group’s CEE portfolio will strategically expand GLP’s European presence to 11 countries Gazeley today announces that it is adopting the GLP brand name following its acquisition by the global investment manager
Department, a new managed workspace concept, has launched, combining work, social and wellness facilities under one roof, as it introduces the new era of the workplace. The complete workplace offering, which is an evolution of the All Work & Social managed workspace operation, originally founded as the award-winning Hello Social,
Employers up and down the country are planning to welcome back employees to the workplace, and they must bring in strict COVID-safe plans as lockdown measures ease. But British workers should confirm with their employer the steps that are being taken to make it safe and compliant to return to
GLP Completes Acquisition of Central and Eastern Europe Logistics Real Estate Portfolio The completion of the acquisition of Goodman Group’s CEE portfolio will strategically expand GLP’s European presence to 11 countries Gazeley today announces that it is adopting the GLP brand name following its acquisition by the global investment manager in 2017. In addition, GLP announces that it has closed on the acquisition of Goodman Group’s Central and Eastern Europe logistics real estate portfolio. GLP currently has US$7 billion of assets under management across the UK, Germany, France, Spain, Italy, Poland and the Netherlands. The addition of this unique, high-quality portfolio spread across Poland, Czech Republic, Slovakia and Hungary expands GLP’s European presence to 11 countries placing it within a select number of logistics real estate investors with a truly pan-European platform. Nick Cook, President, GLP Europe, said: “Since entering the market in 2017, GLP has strategically expanded its presence across Europe to meet investor demand and support its disciplined pan-European growth strategy. We believe attractive macroeconomics, urbanisation, e-commerce growth and proximity to major distribution hubs across Europe are helping to drive Central and Eastern Europe’s logistics real estate market.” The acquired portfolio is concentrated on key logistics routes across the region with access to growing markets for e-commerce and distribution. It will bring a number of new customers into the business and allow it to better support existing customers with their expanding supply chain requirements across Europe. To support the acquired portfolio and the Company’s growth in the region, Goodman Group’s Central and Eastern European local teams will join GLP’s European business. Over the last 30 years, Gazeley has built a strong reputation as one of the leading investors and developers of logistics warehouses across Europe. Initially starting as a merchant developer as part of Walmart, the business has expanded its presence across the UK and subsequently Europe under several ownership structures. Since GLP acquired Gazeley in 2017 to enter the European logistics real estate market, the European business has doubled in size from an AUM, geographic footprint and people perspective, strengthening the team with several significant and strategic hires along the journey. By fully embracing what it means to be GLP, the business is uniquely placed to stay ahead of the market by opening up new opportunities, smarter innovations and accessing a larger global network. While the change will bring a number of benefits, it won’t change the values or how the company operates. The goal is to enhance its offer, simplify its communications and deepen the relationships that have been built. Nick Cook, President, GLP Europe, said: “Since we became part of GLP in 2017, we have experienced unprecedented growth not only in our existing markets, but we entered six new countries. Adopting the GLP name is a natural evolution for the business as we look to continue this expansion. GLP’s name is synonymous with forward-thinking, technology-led logistics real estate and this change reflects our commitment to using that expertise combined with our local market knowledge to enhance our offering in Europe. We are better together, and stronger than ever” “We also look forward to welcoming our new colleagues to the team who will be critical in helping us expand our reach in Europe and beyond. The completion of this transaction is symbolic of our recent growth and ambitions for the next period. I’m proud to have been part of Gazeley journey and look forward to taking the business forward in its next chapter as GLP.” Kirkland & Ellis served as legal counsel to GLP, with Greenberg Traurig and Kinstellar providing local legal advice. Cushman & Wakefield served as advisors to GLP and Goldman Sachs and Citi have committed to finance the acquisition.
Department, a new managed workspace concept, has launched, combining work, social and wellness facilities under one roof, as it introduces the new era of the workplace. The complete workplace offering, which is an evolution of the All Work & Social managed workspace operation, originally founded as the award-winning Hello Social, by Allied London, will give businesses of 1–200 people space to work, scale and grow, providing everything a company needs to thrive in one place. Department offers members fully customisable spaces, from single and clusters of desks, to private studios, allowing flexible working and giving companies space to evolve and change with their surroundings, providing the ultimate workplace solution for businesses in all sectors. Each of Department’s sites will offer members a varied inventory of wellness and social spaces and opportunities, developed in collaboration with local business, with gyms, coffee shops, bars, tap houses and a gin distillery all on-site. Department will operate seven sites in the heart of three UK cities – Manchester, London and Leeds. Manchester will be home to four operations – Department XYZ, Department Bonded Warehouse, both set to be fully operational in 2020 – with Department ABC and Department Piccadilly fully operating in 2021 and 2022. Department Casino Leeds and Department London will open in 2021. Michael Ingall, founder of Department, said: “Our view is that the future is all about the workplace, rather than workspace. Each company will inevitably want something different from their workplace, and we believe in providing the diversity businesses now seek under one roof, at a single destination. The workplace means something different depending on the sector a business operates in, and most importantly its people, so varied amenities will fit many variations of business. “A number of recurrent trends have emerged in each industry, for example, financial services businesses are considering moving teams into flexible space, split between distinct projects. While tech and media businesses report missing agile working and collaboration, with open and quiet spaces helping them to do this. “Department is not a direct result of COVID-19, but its design and philosophy has certainly been influenced by the pandemic. Over the last two months, we have undertaken significant research into remote working, considering how people are coping, what they have missed, and how they now feel about their workspace. We have used this to inform us as we create the new era of the workspace, and design a confident, safe and secure return to work. “Rigid workplaces with rows of desks must now be a ‘no-go’ with much more varied spaces for working in teams, or collaborating one-on-one, combined with much more space to work on individual tasks. Flexible office provision with a choice of locations is also a key factor, which in turn will help the working hours spent in the office. Anthony Powell, managing director at Department, said: “Our conclusion from the extensive research is that the workplace that was already evolving before COVID, has evolved 10 years in 2 months. If we are to successfully persuade people to enthusiastically return to work, and most importantly, if we are to persuade businesses to locate into our buildings, the design and philosophy of the office needs to develop into the complete workplace. “Department will fully embrace the results seen from these surveys, as well as incorporate our group experience of designing and managing workspaces over the last 20 years. The changes we now need to make, will establish a successful and sustainable workplace that will endure what is in store for at least the next five years.” Department launches with consumer finance Auden in the Bonded Warehouse site, joining Klarna, Levitt Bernstein, Reform Radio, Manchester Camerata and Jist Studios. Department XYZ members include Rowan Partners, IOD, Hurlingham Polo and Sportsology. For more information on Department and to find out how entrepreneurs and businesses can become members, visit: www.departmentuk.com
Employers up and down the country are planning to welcome back employees to the workplace, and they must bring in strict COVID-safe plans as lockdown measures ease. But British workers should confirm with their employer the steps that are being taken to make it safe and compliant to return to work. All UK businesses who ask their staff members to return to work have been informed that they need to undertake a risk assessment and put in place various measures to protect their staff from contracting the virus. Employees need to feel safe, and depending on the specific industry, certain unions have claimed that employees can even refuse to go back to the office if precautions aren’t taken. Health and safety experts at CE Safety have made it easier for Brits to understand what their employers should be doing to comply with new safety rules. A spokesperson for CE Safety says: “There are countless sensible measures to take when it comes to a safe return to work. “The Coronavirus guidelines and measures are fast-paced, so all employers and employees need to follow the latest developments. As it stands, if Brits can work from home, then they should continue to do so. “But this could change by August. Retail, hospitality, service and leisure industries are reopening from 4th July, it’s important to look at what employees need to know ahead of a return to the ‘new normal’. “It’s worth mentioning that Brits should not return to work if they have been advised by the Government to shield. This will apply only to those in receipt of a letter, who are in the extremely vulnerable category.” Here is a need-to-know checklist when it comes to returning to work. Has the employer carried out a COVID-19 risk assessment? Sounds simple, but before reopening the office, employers should ensure the safety of the workplace by carrying out a risk assessment. This might result in reorganising the office layout to give employees more space between work stations and/or install sneeze guards between spaces. A phased return might also be an option to employers. Check employer’s cleaning, handwashing and hygiene procedures Employers should encourage staff to wash hands regularly, and provide hand sanitiser around the workplace as well as the washrooms. There also needs to be a schedule that allows frequent cleaning and disinfecting of surfaces and objects that are touched regularly. Clear use of toilets may sound too particular, but employers need to outline cleaning guidance for the toilets, as well as providing adequate hand drying facilities, either paper towels or hand dryers. Ask the employer to clarify working from home stance Employers have been advised by the UK government to take all reasonable steps to help people work from home. Has there been internal discussing home working arrangements? Do employees have the correct equipment to allow effective working from home such as remote access work systems? Employees who have family members that are at greater risk from COVID-19 will understandably be concerned about returning to work. Hence the need for employers to consider employees working work from home. For employee physical and mental wellbeing, this is an important step for employers to help look after their staff. Mental health issues that can arise from periods of isolation, and employers need to allow the best possible working conditions for their staff. What is there in place to ensure social distancing? Where possible, social distance between colleagues should be maintained. Employers need to put up signs to remind workers and visitors of social distance guidance. Workstations should not be shared. Floor tape is a cost-effective way to visualise social distancing guidelines. Employers may need to look at their processes too, and perhaps switch to visitors by appointment only, or do meetings via video service platform such as Zoom, or Google Hangouts. What to do if British workers aren’t happy? If you have raised concerns or requested clarification with your employer, but you don’t feel they have been addressed, you can consider whether to contact the Health and Safety Executive (HSE) about your concerns. They are the Government body with responsibility for safety in the workplace and can take enforcement action against employers who are lacking.
