The Mick George Group, a Cambridgeshire based Construction specialist which operates two sites within the Leicestershire region has landed a multi-service construction package worth circa £20m for works to be completed at Magna Park Lutterworth, Europe’s largest dedicated logistics and distribution park. The contract represents yet another high-profile project that
Canmoor is delighted to announce that Malcolm Group has agreed terms for 67,000 sq ft of warehouse space at Westway Park in Renfrew. The deal represents the largest lockdown industrial deal to be concluded in Scotland so far. Malcolm Group, one of the UK’s most successful logistics, construction and maintenance
The second phase of developer Jaynic’s Suffolk Park in Bury St Edmunds, Suffolk, has secured detailed planning consent from West Suffolk Council. The second phase of warehouse units at the 114-acre scheme totals 367,000 sq ft in four units of 37,000 sq ft, 80,000 sq ft, 100,000 sq ft and
Amazon is thought to be the main beneficiary of a recent planning approval at developer PLP’s Gateway 45 scheme in Leeds. The internet giant is believed to be the reason behind a reserved matters application proposing a single 2 million sq ft distribution warehouse at the scheme that recently scored
New 118,000 sq. ft development situated at a site in Huddersfield. GMI Construction Group has today announced the completion of a new 118,000 sq. ft purpose-built manufacturing plant in Huddersfield for Aflex Hose– a world leading manufacturer of PTFE-lined flexible hoses for the automotive, pharmaceutical, food and chemical and industries.
Gazeley, a leading investor and developer of logistics warehouses and distribution parks, is expanding Magna Park Lutterworth, Europe’s largest dedicated logistics and distribution park, from its current 9 million SQ FT of floor space to 16 million SQ FT in the coming years. Development has begun on three speculative logistics
GLP, a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies, today announced that it has entered into an agreement to acquire Goodman Group’s Central and Eastern Europe logistics real estate portfolio, subject to regulatory approvals. GLP entered the European market in December
More than 10 million sq ft of warehouse space was under offer at the beginning of 2020 – a 233% increase since end of 2018, according to CBRE. In its latest trading update investor developer Tritax Symmetry chief executive, fund management, Colin Godfrey, said such figures looked promising for developers
Brand new 437,000 sq ft warehouse/industrial unit took 8 months to build and was completed for Evans Property Group GMI Construction Group has today announced the completion and handover of a new 437,000 sq ft warehouse/industrial development for long standing customer Evans Property Group at the Fradley Park development in
Stephen George + Partners LLP (SGP) has overseen the completion of the third and final phase of St. Modwen Park Doncaster. Having masterplanned the whole 27-acre site, SGP successfully designed and delivered the last £7 million phase, comprising more than 108,000 sq ft of industrial space, in February 2020. Working
The Mick George Group, a Cambridgeshire based Construction specialist which operates two sites within the Leicestershire region has landed a multi-service construction package worth circa £20m for works to be completed at Magna Park Lutterworth, Europe’s largest dedicated logistics and distribution park. The contract represents yet another high-profile project that the firm is concurrently engaged, and will see the business complete various enabling, stabilisation, demolition, environmental and facilities management works on behalf of Gazeley, a leading investor and developer of logistics warehouses and distribution parks. Through various initiatives, the scheme seeks to expand the existing 9 million Sq. Ft. of floor space to 16 million Sq. Ft in the coming years. Development has begun on three speculative logistics and distribution units totalling 525,400 Sq. Ft. which will be available for occupancy in Autumn 2020, while a further unit of 746,500 Sq. Ft (subject to planning permission) is also be being planned. In total Magna Park South, Lutterworth could accommodate 2.8 million Sq. Ft with build-to-suit options available in a range of sizes. Magna Park Lutterworth benefits from excellent transport links to the rest of the UK, with 59.3 million people, or 85% of the UK population, within four hours’ truck drive-time of the development, owing to its easy access to the M1, M6 and M69 motorways.
Canmoor is delighted to announce that Malcolm Group has agreed terms for 67,000 sq ft of warehouse space at Westway Park in Renfrew. The deal represents the largest lockdown industrial deal to be concluded in Scotland so far. Malcolm Group, one of the UK’s most successful logistics, construction and maintenance services companies, will use Block E3 for short-term storage requirements. Rob Large, director of Canmoor said: “Westway continues to offer the ideal property solution for prestigious occupiers like Malcolm. We always adopt a practical and ‘can do’ approach and were able to provide the right product and terms to meet Malcolm’s key business requirements.” Iain Davidson, of joint agent Colliers International added: “Malcolm has a long history with Westway and was attracted by the quality of space, as well as the great location and flexibility. The space requirement was time-sensitive and we were able to conclude the deal within six days of viewing.” Norman Pollock, of Pollock Property Advisors, who represented Malcolm, said: “Malcolm had an immediate need for storage space in a secure and well-connected location. Westway was quickly able to provide the perfect space solution, less than three miles from Malcolm’s headquarters at Linwood.” Westway offers excellent connectivity to the whole of Central Scotland, with Junction 27 of the M8 only 3 minutes drive away. The park is located in the heart of the Glasgow Airport Investment area, which is one of the key City Deal projects that will benefit from £39.1m of inward investment over the next 10 years. This will deliver significant infrastructure investment to the area including a new two-lane bridge over the White Cart, directly linking Westway with the investment area and airport. Other key occupiers at Westway include Doosan Babcock, AMG Group, JW Filshill, Malin Fabrication, the NHS and Strathclyde University. Westway joint agents are Colliers International and JLL. The Malcolm Group was represented by Pollock Property Advisors.
The second phase of developer Jaynic’s Suffolk Park in Bury St Edmunds, Suffolk, has secured detailed planning consent from West Suffolk Council. The second phase of warehouse units at the 114-acre scheme totals 367,000 sq ft in four units of 37,000 sq ft, 80,000 sq ft, 100,000 sq ft and 150,000 sq ft, respectively. Jaynic has outline consent for up to 2 million sq ft of business, distribution and industrial space at the scheme The first phase saw the development of speculative two warehouse units totalling 357,000 sq ft. The 147,000 sq ft building was successfully let to Unipart acting as the provider for the NHS Supply Chain last Summer, and it is in detailed negotiations with occupiers on its second 206,000 sq ft unit. Ben Oughton, Jaynic development director, said: “Despite the current health crisis there is strong evidence that there is still significant demand for well-located logistics warehouses. We felt that as the first phase is proving successful with Unipart taking the first unit and the current strong demand for the second unit the time was right to go ahead with a further second phase of speculative units.” Suffolk Park is located immediately adjacent to the A14 trunk road providing a fast transport link from the east coast ports through East Anglia and into the national motorway network. A recent report from Savills on big shed supply highlighted the lack of new speculative units in East Anglia. At the time the report commented that: “there are no speculative units scheduled for delivery in 2019” and pointed out that the first phase of units at Suffolk Park units were the first speculative warehouses to be delivered in the region for over a decade. Encouraged by this Jaynic has gained planning consent for this second phase. Letting agents are Hazells Chartered Surveyors, Bidwells and Savills
Amazon is thought to be the main beneficiary of a recent planning approval at developer PLP’s Gateway 45 scheme in Leeds. The internet giant is believed to be the reason behind a reserved matters application proposing a single 2 million sq ft distribution warehouse at the scheme that recently scored approval from Leeds Council. The application was for a 2,001,543 sq ft facility with a footplate of some 464,809 sq ft with three further mezzanines on the 43.66 acre site owned by PLP. In the planning statement submitted as part of the application said: “The proposed development represents a major economic investment and will enable a significant number of jobs to come forward in a key site in the Aire Valley Leeds Enterprise Zone. A key aim of this Zone is to drive growth and investment in Leeds and the wider City Region.” PLP acquired the plot from Aire Valley Land, a joint venture between Harworth Group and Evans Property Group, earlier this year. At the time of the sale the plot had planning for up to 855,000 sq ft of industrial and distribution space. This is the second planning application for the site, previously PLP submitted plans for a scheme for four distribution units with sizes ranging from 59,000 sq ft to 400,000 sq ft to be developed on a speculative and pre-let basis. Joint letting agents are CBRE and Gent Visick. Gateway 45 is located next to Junction 45 of the M1 and extends to 166 acres, with outline planning consent for 2.64 million sq ft of commercial space. The PLP UKLV deal follows three previous separate disposals totalling 55.5 acres, generating a total consideration of £30.3m. Gent Visick advised on the sale of the plot. There has been no comment for the parties involved.
New 118,000 sq. ft development situated at a site in Huddersfield. GMI Construction Group has today announced the completion of a new 118,000 sq. ft purpose-built manufacturing plant in Huddersfield for Aflex Hose– a world leading manufacturer of PTFE-lined flexible hoses for the automotive, pharmaceutical, food and chemical and industries. The new 3-storey facility which was constructed on a 12-acre site and took 52 weeks to build has been specifically designed to accommodate the company’s bespoke processes. Talking about the project GMI Divisional Managing Director Lee Powell said: “This project presented several challenges due to the highly bespoke nature of Aflex’s manufacturing processes and requirements not just now but into the future. Working closely together, GMI were able to design a state of the art, built to suit facility that is entirely geared to the company’s capacity requirements. With the facility achieving PC on time despite experiencing various challenges during construction the completion of this project represents a notable achievement for everyone involved. We would like to thank and congratulate every member of the project team for another fantastic result of which we are all notably proud. The completion of this project follows other notable successes GMI has been involved in across the manufacturing sector over the past 12 months including the completion of a 126,000 sq. ft Centre of Excellence in Sustainable Advanced Manufacturing (CESAM) for Henry Boot Developments which has subsequently been transformed into a temporary Nightingale hospital for the NHS to help in the fight against the Covid-19 pandemic”.
Gazeley, a leading investor and developer of logistics warehouses and distribution parks, is expanding Magna Park Lutterworth, Europe’s largest dedicated logistics and distribution park, from its current 9 million SQ FT of floor space to 16 million SQ FT in the coming years. Development has begun on three speculative logistics and distribution units totalling 525,400 SQ FT and the units of 300,300 SQ FT, 126,300 SQ FT and 98,800 SQ FT will be available for occupancy in Autumn 2020. Gazeley is also preparing to construct a further unit of 746,500 SQ FT, subject to planning permission. In total Magna Park South, Lutterworth can accommodate 2.8 million SQ FT with build-to-suit options available in a range of sizes. In addition, a further extension to the Northern side of the park is also being developed on 225 acres of land, which will offer build-to-suit development options in a range of sizes with units from 100,000 SQ FT up to 1,000,000 SQ FT in a single unit, and overall up to 3.3 million SQ FT across the Northern side of the park. As a result, Magna Park Lutterworth will increase in size from its current 9 million SQ FT of floor space to a total of nearly 16 million SQ FT in the coming years. Both extensions to the park have been designed to include a range of leading sustainability features, including a fully landscaped country park with over one million trees already planted at Magna Park. The developments will also come equipped with online energy dashboards to help customers monitor energy usage, as well as rainwater harvesting and technology to optimise the use of natural light. In addition, the new buildings are expected to receive a BREAAM Excellent certification. Also planned, to further enhance the community benefits for the occupiers at Magna Park, are a series of new amenities, including wellness and recreation facilities and a lorry park, together with a Logistics Institute of Technology (LIT). Magna Park Lutterworth benefits from excellent transport links to the rest of the UK, with 59.3 million people, or 85% of the UK population, within four hours’ truck drive-time of the development, owing to its easy access to the M1, M6 and M69 motorways. Bruce Topley, Senior Development Director at Gazeley said: “Magna Park, Lutterworth is an iconic development, well known across the UK and Europe and recognised as an outstanding location for distribution and logistics, home to a host of leading companies and operators. “In light of the continued high demand for logistics space, particularly in this area, we are confident that these buildings will be a welcome addition to the market. Situated right in the heart of the “UK’s Logistics Golden Triangle”, the development is ideally suited to serve the fast-expanding supply chain operations of our customers.”
GLP, a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies, today announced that it has entered into an agreement to acquire Goodman Group’s Central and Eastern Europe logistics real estate portfolio, subject to regulatory approvals. GLP entered the European market in December 2017 through the acquisition of Gazeley, a developer, investor and manager of European logistics warehouses and distribution parks with a 2.4 million sqm portfolio across the UK, Germany, France, Spain, Italy, Poland and the Netherlands. The addition of this unique, high-quality portfolio that is spread across Poland, Czech Republic, Slovakia and Hungary will expand GLP’s European presence to 10 countries and it will join a select number of logistics real estate investors with a truly pan-European portfolio. The acquired 2.4 million sqm 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 in Poland, Czech Republic, Slovakia and Hungary. In addition, Goodman Group’s Central and Eastern European approximately 40-person team working in the region will join GLP’s European team, Gazeley, upon completion of the transaction and will support the Company’s growth across Europe. The acquisition of the portfolio follows a broader European expansion since GLP entered the market at the end of 2017. In the past year, it has opened offices in both Spain and Italy following of a number of development opportunities. Nick Cook, Chief Executive Officer, Gazeley, said: “This deal is a very exciting part of our European growth strategy. The scale and geographic footprint of the portfolio is highly complementary to our existing business and offers us compelling opportunities for growth in a number of important European markets. We are confident that the addition of this portfolio will support us in delivering further value to investors and our customers. We very much look forward to welcoming the team, its customers and partners to Gazeley in the coming months.” 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.
More than 10 million sq ft of warehouse space was under offer at the beginning of 2020 – a 233% increase since end of 2018, according to CBRE. In its latest trading update investor developer Tritax Symmetry chief executive, fund management, Colin Godfrey, said such figures looked promising for developers and investors in the logistics property sector. “Occupier take-up looks promising for 2020 with over 10 million sq ft of lettings reported to be under offer and carried over from 2019,” said Godfrey. “Speculative supply has slightly decreased from 2018, but importantly reduced by circa 50% for buildings over 500,000 sq ft, where demand continues to outstrip supply. Attractive levels of rental growth are therefore expected to continue. “The market for very large Big Box logistics assets continues to display strong fundamentals for 2020 and the longer term. Structural tailwinds are supportive as occupiers upscale the size of their logistics assets to further increase efficiency, reduce costs and rationalise their supply chains, in the face of the rapid transition to omni-channel purchasing by consumers.” Big box availability decreases However, according to CBRE, the UK’s Big Box logistics availability slightly decreased through 2019 to just over 27 million sq ft. Take up in 2019 topped 25 million sq ft means that on last years’ take up figures there is approximately just over one years’ supply going forward. There were 92 deals were signed throughout 2019. Of that 43.4% of the space taken related to units between 100,000 and 300,000 sq ft, resulting in an average deal size of 275,858 sq ft. 3PLs providers took the most space during 2019 (accounting for 22.7% of take- up), with online retailers on second position (22.1%) and the motor industry completing the podium (18.3%). Spec shed development increases Meanwhile, over the course of 2019, available supply – including speculative space under construction – rose by 15% according to the latest research from JLL. Jon Sleeman, director of UK research at JLL, said: “We saw more speculative starts take place in 2019 and at the end of the year there was 5.1 million sq ft speculatively under construction. We expect to see further speculative development take place this year but overall, against a backdrop of good levels of demand in the market, we are not anticipating an increase in our national vacancy rate this year.” Quiet Q4 for warehouse property market Finally Gerald Eve’s latest Prime Logistics report states that the last quarter of the year was hit by ‘economic and political uncertainty in the UK’. Take up was 24% lower than Q3, with 10.5 million sq ft taken-up in Q4, the overall volume was 11% below the 5-year quarterly average but in line with the 10-year average. Overall take-up during 2019 totalled 47 million sq ft, which was 7% down on 2018, but comfortably above the 10-year annual average.
Brand new 437,000 sq ft warehouse/industrial unit took 8 months to build and was completed for Evans Property Group GMI Construction Group has today announced the completion and handover of a new 437,000 sq ft warehouse/industrial development for long standing customer Evans Property Group at the Fradley Park development in Lichfield. The unit which took 8 months to build features 407,000 sq ft of warehouse space together with 30,000 sq ft of CAT A office accommodation and is immediately available for occupation. The development is the latest major project to be completed by GMI on Fradley Park having previously completed a giant 800,000 sq ft regional distribution centre in a record breaking 28 weeks for leading supermarket retailer Tesco. Speaking about the development, GMI Divisional Managing Director Marc Banks said: “Fradley Park is a stand-out location for logistics and home to many leading, well known brands. In the last 12-18 months GMI have been constructing and developed in excess of 10 separate logistics/industrial development projects, and so this further serves to underpin our credentials in this important sector which continues to experience strong growth” Architects on the project were Kilmartin Plowman & Partners with JPG serving as structural engineers and Richard Boothroyd Associates the Employers Agent Set within 350 acres, Fradley Park offers a first-class location for warehousing distribution and manufacturing with opportunities for both existing buildings and build to suit developments from 50,000 sq ft to 230,000 sq ft. Fradley Park is at the heart of the country’s motorway network being 4.5 miles from T4 and T5 of M6 Toll Road. Located on the A38, it has excellent access to the M1, M42, M40, M6 and A50 and close to both Birmingham International and East Midlands airports.
Stephen George + Partners LLP (SGP) has overseen the completion of the third and final phase of St. Modwen Park Doncaster. Having masterplanned the whole 27-acre site, SGP successfully designed and delivered the last £7 million phase, comprising more than 108,000 sq ft of industrial space, in February 2020. Working with St. Modwen and Lindum Construction, SGP designed the three units of 34,464 sq ft, 21,614 sq ft and 53,072 sq ft to complete the 247,000 sq ft development, which was granted outline consent in March 2016. SGP designed and delivered the first two phases of the park in 2016 and in 2017, and the speculative units were quickly occupied by Bosch Automotive, DB Schenker and Thornhill Engineering. Steven Clegg, Principal Architectural Technologist at SGP, said: “The project provides accessible and adaptable space in a modern envelope that uses robust yet cost effective materials. The clean, crisp contemporary design appeals to a wide cross section of users and has been well received in the market.” Rob Richardson, Senior Development Manager at St. Modwen Industrial & Logistics, added: “We are delighted to have worked with SGP on this scheme and to have reached completion of the third and final phase. The new warehouses are testament to our ability to bring forward much-needed industrial and logistics development and we look forward to welcoming businesses to these new, high-quality units.” Built on an established 27-acre brownfield site off Wheatley Hall Road, one of the main arterial routes into the city, the business park offers versatile high bay warehouse and office space, with separate parking and yards and segregated access to each area.