Prologis buys 32 acre development site in Dunstable14th September 2012

Prologis has bought 32 acres of industrial development land at Boscombe Road, Dunstable from ICP Asset Management. The transaction is Prologis’ first land acquisition in the South East of England since 2007.

The new site, which is close to the existing Prologis Park Dunstable, already has planning consent for a 755,000 sq ft unit. However, in line with market demand on the southern M1 corridor, Prologis will shortly be submitting a new planning application to Central Bedfordshire Council for two distribution units of 300,000 sq ft and 360,000 sq ft respectively. Both buildings, which may be built speculatively, have been designed to achieve BREEAM 2011 Very Good accreditation and the best EPC rating possible for their size.

“This transaction is excellent news for the market and for Dunstable,” said Andrew Griffiths, managing director, Prologis UK. “We continue to invest in strategic locations with the aim of offering our customers the best range of distribution opportunities in the UK market. There is a shortage of new facilities in this size range in the South East market and we are pleased to have secured a deliverable site on the M1 corridor, which we anticipate will be of great interest to our customer base. We will make a decision on speculative development once the revised planning application has been approved. Our decision will also be subject to ongoing pre-let discussions.

“Prologis Park Dunstable has proved to be a great success bringing many new employment opportunities to the town and we would expect this new development could bring around 700 further jobs to the community.”