IDI Gazeley Announces Next Phase of Inventory Development in the U.K.

Two Logistics Warehouses of 185,742 SF (17,256 SQ M) and 297,320 sq ft (27,622 sq m) to Be Developed at Strategic Sites in Milton Keynes and Daventry in the Centre of the U.K. Logistics Heartland

Announcement follows the start of construction of a 97,952 SF (9,100 SQ M) warehouse at G.Park Enfield in North London.

Total volume of new inventory development currently under construction in the U.K. rises to 581,014 sq ft (54,000 sq m)

LONDON, March 25, 2015 – IDI Gazeley (Brookfield Logistics Properties), a leading global investor and developer of logistics warehouses and distribution parks, has today announced the intention to develop two further logistics warehouse inventory buildings of 185,742 SF (17,256 SQ M) and 297,320 SF (27,622 SQ M) to be developed at strategic sites in Milton Keynes and Daventry respectively, in the centre of the U.K. logistics heartland.

This announcement follows the start on site of a 97,952 SF (9,100 SQ M) inventory warehouse development at its G.Park Enfield development in North London, and forms part of a strategic programme of inventory development in the UK.

With the new developments announced today, the total amount of inventory space under construction by IDI Gazeley in the U.K. currently stands at 581,014 SF (54,000 SQ M).

Construction of both buildings has now started at the two sites and both are expected to be available for occupation by August this year. The developments feature the following specifications.

  • Magna Park Milton Keynes - a 185,742 SF (17,256 SQ M) development, featuring 174,160 SF (16,180 SQ M) of warehouse space with 11,367 SF (1,056 SQ M) of two storey office accommodation. It will feature 12.5m clear internal height, 17 dock doors and four level access doors, 69 HGV parking spaces and 161 car parking spaces.
  • G.Park Daventry - a 297,320 SF (27,622 SQ M) development, featuring 282,251 SF (26,222 SQ M) of warehouse space with 14,854 SF (1,380 SQ M) of two storey office accommodation. It will feature 12.5m clear internal height, 28 dock doors and three level access doors, 120 HGV parking spaces and 230 car parking spaces.

Speaking about the announcement, Nigel Godfrey IDI Gazeley Executive Director and U.K. Country Head said, “As we continue to receive strong demand for new, sustainable distribution space from our growing customer community, we are investing in the development of new inventory warehouse space in primary strategic locations throughout the U.K.

Both Milton Keynes and Daventry serve as highly attractive, proven locations for logistics, ideally situated for companies seeking to expand into space close to the M1/M6/M69 and major population centres located within the midlands and south. In the past 12 months, we have developed and leased in excess of two million sq ft of sustainable logistics space to customers across the U.K. and are confident that the development of these buildings will yield much interest.

Some of the U.K. and Europe’s most successful companies and well-known brands operate from within an IDI Gazeley warehouse and we look forward to welcoming more customers into our growing customer community."

Also commenting about the announcement, IDI Gazeley Europe & China Chief Executive Officer Pat McGillycuddy said, “This latest announcement represents another key milestone in the ongoing expansion of our activity in Europe and in the U.K. in particular. The strong demand from our growing customer base and from companies seeking to expand into additional warehouse space is supported by our long term commitment to deliver prime warehouse assets and serve our growing customer community.

Across Europe, we are actively investing in bringing to market prime development sites situated in key strategic locations, to give our customers the space they need to expand and grow. Across our expanding portfolio in the U.K., France, Germany, Spain and Italy we have a land bank capable of accommodating up to 17 million SF (1,579,300 SQ M) of sustainable, logistics space.”

Magna Park Milton Keynes is IDI Gazeley’s flagship U.K. logistics and distribution park, strategically located between junctions 13 and 14 of the M1, offering upto 4.4 million sq ft of grade A, sustainable distribution space. It is home to the national distribution operations of leading U.K. retailers John Lewis and Waitrose together with soft drinks manufacturer AG Barr in over three million sq ft of space. In 2014 it received the much coveted award of “Best Overall Scheme” by the U.K. Industrial Agents Society (IAS).

G.Park Daventry is situated in an established industrial/distribution location on Royal Oak Industrial Estate. The site offers 18.5 acres and is capable of accommodating build-to-suit opportunities up to 297,320 SF (27,62 SQ M).

For further information please contact:
Nick Brown
IDI Gazeley Press Office
T: +44 (0) 207 901 4455
M: +44 (0) 759 007 6105
E: nick.brown@brookfieldlogistics.com

About IDI Gazeley
IDI Gazeley (Brookfield Logistics Properties) is one of the world’s leading investors and developers of logistics warehouses and distribution parks with 59 million square feet of premier assets under management and additional prime land sites to develop another 55 million square feet of distribution facilities near major markets and transport routes in North America, Europe and China. As part of Brookfield Property Partners, we belong to one of the world’s largest and most sophisticated owners, operators and investors in real estate.

For further information, please visit www.brookfieldlogisticsproperties.com

About Brookfield
Brookfield Property Partners is one of the world’s largest commercial real estate companies. Our goal is to be the leading global owner, operator and investor in best-in-class commercial property assets. Our diversified portfolio includes interests in over 100 premier office properties and over 150 best-in-class retail malls around the globe. We also hold interests in multifamily, industrial, hotel and triple net lease assets through a Brookfield-managed private equity fund.

For more information, please visit www.brookfieldpropertypartners.com.

Media Inquiry

North America
Reed Barrickman
+1.404.479.1626
reed.barrickman@idigazeley.com

Europe
Ged Brumby
Smithfield Consultants
+44(0)20 3047 2527
gbrumby@smithfieldgroup.com

Rob Yates
Smithfield Consultants
+44(0)20 3047 2546
ryates@smithfieldgroup.com