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    GLP acquires 8-acre site in Crawley to develop 159,000 sq ft of mid-box space

    GLP acquires 8-acre site in Crawley to develop 159,000 sq ft of mid-box space

    3rd Únor 2021

    GLP, a leading investor and developer of logistics warehouses and distribution parks, today announces the acquisition of an 8-acre site in Crawley and plans to develop 159,000 SQ FT of mid-box warehouse space.

    The mid-box development will support GLP’s customers’ increasing requirements for last-mile logistics solutions, particularly in the South East. The growth of the mid-box market in the UK reflects the increasing need for smaller warehousing with proximity to key urban centres.

    The development will span three units comprising 87,000 SQ FT, 46,000 SQ FT and 26,000 SQ FT. GLP will commence development of all three units in November 2021, once planning permission is received, with construction expected to complete in July 2022.

    The site is located on Manor Royal, the premier industrial and business district in the South East. It is strategically located 1.5 miles from Junction 10 of the M23 motorway, 2 miles from London Gatwick Airport, and 10 miles from the M25 motorway. The sites proximity to London and position in the South-East makes it ideal for a range of logistics uses, including last-mile logistics.

    Adrienne Howells, Development Director, GLP, said: “The growth of ecommerce has fundamentally altered and expanded our customers’ distribution requirements. This acquisition and development will allow us to offer a different type of space to both existing and potential customers. We will continue to selectively target acquisitions of prime mid-box opportunities to meet this growing demand in addition to our extensive development pipeline of over 1 million sq ft of space currently underway in the UK.”

     

    Ends

     

    Press contact:
    Rob Yates
    +44 (0)20 3047 2546
    ryates@edelmansmithfield.com

    Investor Contact:
    Daan van den Hoven
    Head of Fund Management & Capital Deployment, Europe
    +31 615 880 183
    daan.vandenhoven@glp.com

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