GAZELEY ANNOUNCES COMPLETION OF 102,000 SQ FT NEW DEVELOPMENT FOR UK MAIL IN MAGNA PARK, MILTON KEYNES
27th November 2017
November 2017 – Gazeley, a leading investor and developer of logistics warehouses and distribution parks, announces today that is has completed construction on a 102,000 SQ FT facility in Magna Park, Milton Keynes.
Construction on the build-to-suit warehouse began in early June and Gazeley was able to deliver the project within 23 weeks, highlighting its ability to fast track developments on behalf of its customers. UK Mail had early access to fit out the warehouse within Gazeley’s build programme thus making it a highly effective turnkey solution for the customer.
The site will be used by UK Mail part of Deutsche Post DHL one of the most trusted brands in global logistics as the depot for local distribution in the surrounding areas. Magna Park already employs 4,500 people and the new warehouse will be delivering a further 120 jobs to the area. The acting agents on the development were Savills, JLL & Burbage Realty.
Magna Park, Milton Keynes is one of the most prominent logistics and distribution hubs in the UK and Europe and is already home to some of the largest brands in the UK, including John Lewis, Waitrose, and River Island.
Located between J13 and J14 of the M1, the site is within a 4½ hour HGV drive of 45.8 million people in the UK, meaning it is perfectly situated for companies, such as UK Mail, looking to deliver goods to the whole of the UK.
Bruce Topley Senior Development Director at Gazeley: “Our ability to provide this logistics center within 23 weeks of our customer’s‘ decision to proceed, highlights our highly efficient process when delivering sites on behalf of our customers. This building will provide an excellent transport base from which UK Mail will be able to reach its own customers throughout the region. This is an important first transaction with UK Mail for Gazeley and we look forward to developing our relationship further.“
Paul Hutchinson Head of Property at UK Mail: „It has been a pleasure to work with Gazeley on this project and they have been able to deliver the facility quickly and to our exact specifications. Their flexible approach allowed us early access which in turn has meant that we have been able to start operating immediately upon completion of the building.”
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Gazeley, the European division of global logistics company Gazeley, is a leading investor and developer of logistics warehouses and distribution parks with a 33 million square foot portfolio concentrated in Europe’s key logistics markets, namely the UK, Germany, France and the Netherlands. It comprises 17 million square feet of existing assets, which are 98% leased, and a development pipeline of 16 million square feet.
On 2 October 2017, GLP, the leading global provider of modern logistics facilities, announced the acquisition of Gazeley from funds managed by Brookfield, the global alternative asset manager. The transaction is set to complete by year end.
The full announcement released on the Singapore Stock Exchange (SGX) can be found at:
For further information about Gazeley please go to www.gazeley.com
For further information about GLP please go to www.glprop.com
For further information about Brookfield please go to www.brookfield.com