Prologis, the UK’s leading developer of logistics property, has reached a landmark £250 million investment milestone in Hemel Hempstead. Over the past 20 years, Prologis has been supporting the local economy and jobs market with a sustained programme of investment and growth into industrial and logistics parks, providing much-needed modern warehousing for both large national companies and local businesses looking to grow.
This package includes £135 million at Maylands Business Park, championing 1,000 jobs, and a continued development programme at Prologis Park Hemel Hempstead, which has supported the creation of 750 new jobs. Recently, the property company has also acquired a further 11.6 acres of land to expand Prologis Park Hemel Hempstead to cope with growing demand. Work has now begun on a 234,000 square foot logistics facility with completion expected towards the end of the summer.
In March last year, despite the global pandemic, Prologis also acquired a 138,000 square foot industrial estate on Eastman Way from Cubic Holdings for £26 million. This site is now Prologis Park Eastman and there is currently one remaining unit of 13,065 square feet available to lease.
Paul Weston, Prologis UK regional head, said: “Hemel Hempstead is one of our most important locations, striking a perfect balance between proximity to London and the last-mile market, and access to the motorway network and the rest of the UK.
“Over the last 20 years, we’ve underwritten our commitment to Hemel Hempstead with a sustained investment programme, which has job creation and community benefits at its heart. As demand for logistics space accelerates, this important location will continue to be a key market for us and enable us to provide our customers with the space they need to deliver on their promises and realise their ambitions for growth.
“I’m delighted that we have just started work on a 234,000 square foot industrial logistics building at Prologis Park Hemel Hempstead, which will be available for occupation towards the end of the summer. This is one of our most successful
parks in the UK and was 75 per cent occupied before the initial buildings had even been completed.”
Jean McLeish, chair of the board of the Hemel Hempstead Business Ambassadors, said: “As a long-term investor, Prologis continues to provide outstanding facilities, across all its developments in Hemel Hempstead. This increasing investment in Hemel
Hempstead is providing space for both large businesses, growing or relocating, and, equally importantly, small businesses looking to expand and plan for future growth. Their commitment to the environment and to local community projects supports the
vision of Hemel Hempstead as the perfect place to live, work and do business.”