Friday, May 2, 2014

Prologis and DP World launch venture at London Gateway Logistics Park

Industrial real estate giant Prologis announced a 50/50 joint venture with DP World to develop a 316,000-square-foot distribution center at London Gateway Logistics Park. 

The company says 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. The target date completion is spring 2015.

"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."

The statement reports that the new facility, to be built on spec, will offer flexible distribution space. The single-sided, 50-foot-high unit will have a 180-foot yard and space for potential expansion. 

"The Prologis facility will go through the new London Gateway Local Development Order that is now in place to fast-track development," said Peter Ward, commercial director, DP World London Gateway. "The LDO massively reduces the planning process, saving huge amounts of time and money, whilst protecting the environment."

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