Gazeley, a GLP company and leading investor and developer of logistics warehouses and distribution parks, has signed 3.8 million sq ft (351,000 sq m) of lease agreements of approximately in the first six months of the year. The leases were signed across Northern and Southern Europe as well as the UK.
Gazeley continues to focus on the development of its prime landbank, with approximately 5.4 million sq ft (498,000 sqm) under construction across Europe, including three significant build-to-suit developments. In Germany, Gazeley is working with one of the world’s largest ecommerce companies to deliver a 1.3 million sq ft (123,000 sqm) logistics and distribution warehouse in Westfalia. In the UK, Gazeley is working with B&Q to develop a 377,000 sq ft (35,000 sqm) warehouse in Swindon, and partnering Conforama in France to develop a 1.9 million sq ft (177,000 sqm) logistics warehouse near Paris.
In the UK, Gazeley also announced its intention to develop the UK’s first three storey logistics facility -G Park London Docklands. The site, located in Silvertown, will comprise 426,000 sq ft (40,000 sqm) of space and will be used as a ‘last mile’ logistics hub for e-commerce, distribution and logistics customers. The development is the first of its kind in the UK and reflects the growing demand for innovative space to support the digital economy.
The period of significant activity follows GLP’s acquisition of Gazeley announced in December 2017 to establish the company in a key market which continues to benefit from long-term, structural trends in the European logistics market.
Nick Cook, Chief Executive Officer, Gazeley, said: “The past six months have been hugely positive for Gazeley. Ownership by GLP has made our business stronger than ever and we are in a great position to capitalise on the ongoing opportunities in the evolving European logistics real estate market. We are proud of these recent leasing successes and remain focused on delivering high-quality, innovative and sustainable property solutions to our customers and investors.”