ProLogis to Build 2.1MSF Rail-Centric Distribution Park in London
- Jan 04, 2008
ProLogis has just revealed plans for the development of ProLogis Park Howbury, a 2.1 million-square-foot environmentally-friendly distribution center complex in Southeast London. Development of the rail-served project dovetails with the U.K. government’s new strategy for facilitating sustainable distribution throughout the country, particularly through the conversion of road usage to rail usage wherever feasible. Sited on 158 acres off the vital M25 motorway about 12 miles from the heart of London, Howbury will encompass four industrial warehouses and a new intermodal facility. ProLogis expects to commence construction of the park early this year. Howbury will be just one of a bevy of rail-served distribution properties the company intends to develop near vital highway and rail intersections across the United Kingdom. Presently, ProLogis’ portfolio in the region includes two other owned rail freight interchange properties in the region; the 2 million-square-foot Daventry International Rail Freight Terminal and the 1.5 million-square-foot ProLogis Park Coventry in the West Midlands. And there is more to come, as the company also has land that can accommodate an additional 12 million square feet of rail-centered development. ProLogis is already the top provider of industrial properties in the United Kingdom, offering 17.4 million square feet of distribution space. The company also leads the pack on a global level with a portfolio of owned and managed industrial assets in 20 countries throughout North America, Europe and Asia, accounting for a total of 483 million square feet valued at an aggregate $34.4 billion.