Developer constructing 90,000 square metres of logistics and distribution space as demand soars
GLP has announced that it has begun developing more than 90,000m2 of logistics and distribution space across four sites in Bedfordshire, Northamptonshire and Milton Keynes.
The developments are said to be part of the largest programme of speculative logistics real estate development currently underway in the UK.
The company said the development programme has been launched to satisfy the significant demand in an increasingly supply-constrained logistics real estate market in the UK.
Demand for larger warehouses has significantly expanded in recent years, particularly among e-commerce occupiers in need of more storage space. According to Savills, online sales in December 2020 were 51% higher year-on-year, with this growth trajectory expected to continue.
The developments consist of three units at G-Park Bedford Wixams, a unit at G-Park Northampton, two units at G-Park Milton Keynes and a further unit at GLP’s flagship logistics park Magna Park Milton Keynes.
Bruce Topley, Managing Director, GLP UK, said: “The growth of e-commerce in the UK has been accelerated by the COVID-19 pandemic given the increased importance of home deliveries.
“As a result, we have seen a surge in demand for logistics real estate in the right locations. Customers are also seeking to reinforce their supply chains and increasingly require higher specification buildings and cutting-edge sustainability credentials. In response to this, we are excited to be bringing high-quality logistics space to the market.”