Prologis, the world’s largest property developer and investment firm, and DP World have announced the formation of joint venture to develop a major distribution centre at London Gateway Logistics Park.
The facility, spanning over 316,000 square feet, will be built with port, road and rail connectivity and is expected to be completed by spring 2015.
“I’m delighted to be able welcome a leading developer of industrial real estate to DP World London Gateway,” said DP World London Gateway CEO, Simon Moore.
“I’m confident that this partnership will deliver a great development and I’m looking forward to seeing the building work start very soon.”
The building has been designed to achieve BREEAM 2011 ‘very good’ accreditation and the best Energy Performance Certificate (EPC) rating for its size. The single-sided, 15-metre-high unit has a 55-metre yard and space for potential expansion.
The park, which is one of the largest multi-modal logistics hubs in Europe, is located next to the DP World London Gateway container port, on the north side of the River Thames. It is within easy reach of the M25 London orbital motorway and is connected to the national rail network. Strong demand has led to the development being taken forward – groundworks are now underway.
“We are delighted to be developing this new unit with DP World at London Gateway Logistics Park,” said Andrew Griffiths, managing director, Prologis UK.
“This is the best opportunity in the South East to offer multi-modal connectivity. The park has the potential to offer big cost savings and efficiencies for global supply chains and we believe it is a game changer for the UK market.”