Global investment manager GLP has announced that it is commencing construction on 1 million sq ft (93,000 m2) of warehouse space in the UK in the largest programme of speculative logistics real estate development currently underway in the UK.
The logistics space is distributed across seven units and four sites in Bedfordshire, Northamptonshire and Milton Keynes and is expected to be available for occupancy in 2021
The development programme follows GLP’s completion of 1.25 million sq ft of speculative development at Magna Park South, Lutterworth in December 2020.
As part of the programme, GLP is developing three distribution units at G-Park Bedford Wixams; a 133,000 sq ft unit at G-Park Northampton, within the Moulton Park Estate; two units at its new G-Park Milton Keynes development and a 88,000 sq ft unit, Magnitude 88, at GLP’s flagship logistics park Magna Park Milton Keynes
Bruce Topley, managing director, GLP UK, said: ‘The growth of ecommerce 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.’
