Case studies
Prologis (UK) Ltd
How we helped Prologis acquire two developments Acquisition of two large employment sites – 24.3 ha (60 acres) in Stafford and 14.2 ha (35 acres) in Barnsley.- Location Stafford and Barnsley
- Key figures Total investment value in excess of £85m
- Additional Information Ranjit Gill, +44(0)121 237 1235
The results
- Prologis acquired two large speculative developments
- Early opportunities therefore Prologis were ahead of the market when bidding for the sites.
- The purchases helped the client to meet its ambitious acquisition/investment targets.
- Within 3 months of practical completion, the largest warehouse unit on the Stafford site (545,000 sq ft) had been let removing the biggest void on the site and generated a substantial profit for Prologis.
The challenges
- Prologis is a worldwide owner, manager and developer of distribution and light manufacturing facilities. It was looking to purchase and develop new sites in a very competitive market.
What we did
- Our agency team advised Prologis on the purchase of the Stafford and Barnsley sites and the construction of speculative warehouses on both sites.
- Both sites were procured with limited market exposure meaning there was minimal competition for the sites. In turn this meant that the transactions were carried out quickly and to the satisfaction of both vendor and purchaser.
- In Stafford, we advised Prologis on the purchase of the site and subsequently advised on the speculative development of four warehouses of 70,000 sq ft, 127,000 sq ft, 230,000 sqft and 545,000 sq ft.
- Within 3 months of practical completion we let the largest warehouse unit on the Stafford site (545,000 sq ft).
- In Barnsley, we advised Prologis on the purchase of the site and our planning team subsequently secured planning permission for a 530,000 sq ft cross dock warehouse. The property has since been let to ASOS, the internet only clothing retailer.
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