X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LODNON-ProLogis plans to develop two million sf of speculative distribution space over the next six months.

Most of the new development will be on the edge of Wellingborough town centre where the company has secured consent for 1.1 million sf of sheds. Earlier this year ProLogis bought the 50-acre Victoria Park site, located close to the A4 for links to the East Coast ports.

The first phase of the 50-acre Victoria Park site will comprise 780,000 sf in a single shed. ProLogis is also mulling over the possible speculative development of a second phase comprising 360,000 sf.

ProLogis is also going to build a 168,000-sf unit on an eight-acre site in Didcot, Oxfordshire where they are quoting £6.75 per sf. And in addition, the distribution specialist has started speculative construction of a 190,000-sf shed close to the north circular in Enfield, north London.

The company also plans speculative starts at Kettering (425,000 sf), Stafford (550,000 sf), Coventry (200,000 sf), Stoke (255,000 sf) and Hemel Hempstead (156,000 sf) before the middle of next year.

Only last week, ProLogis announced it had plans to build 600,000 sf of units on 42 acres it had purchased from MEPC at South Marston Park in Swindon. The spate of development brings the company’s development pipeline to than 2.2 million sf over six months. Paul Weston, vice president of development at ProLogis, says: “We’ve been so successful in letting standing stock this year, we need to get more units up to capitalise on the opportunity for profit next year.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE 2020Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.