Property letting, sales and investment case studies - BNP Paribas Real Estate UK
Prologis (UK) LtdMaximising profit for ProLogis in excess of £85m through strategic acquisitions 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
- Contact Nick Waddington, +44 (0)121 234 6869
- 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 generating a substantial profit for Prologis.
- The purchases helped the client to meet its ambitious acquisition/investment targets.
- 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 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 sq ft and 545,000 sq ft.
- Within three 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.