Gazeley reports strong leasing and development activity in first half
18th Juli 2018
- 3.8 million sq ft (351,000 sqm) of leases signed in the period
- 5.4 million sq ft (498,000 sqm) of space currently under development across Europe utilising Gazeley’s existing landbank
18 July 2018 – Gazeley, a GLP company and leading investor and developer of logistics warehouses and distribution parks, has signed 3.8 million sq ft (351,000 sqm) 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.”
Rob Yates, Smithfield Consultants
0203 047 2546
Gazeley is a leading developer, investor and manager of European logistics warehouses and distribution parks with a 17 million square foot portfolio concentrated in the strategic logistics markets of the UK, Germany, France and the Netherlands. In addition to its operating portfolio, which is 96% leased to blue chip customers such as Amazon, UPS and Volkswagen, Gazeley has a prime land bank which allows for the development of an additional 16 million square feet. Gazeley is GLP’s Europe platform.
GLP is the leading global provider of modern logistics facilities and technology-led solutions, with over US$50 billion of assets under management across its real estate and private equity segments. The Company’s real estate fund platform is one of the largest in the world, spanning 62 million square meters (667 million square feet) globally.
For further information about GLP please go to www.glprop.com