Prologis UK has recently acquired a 15.37 acre site in Uxbridge, London. The site, purchased from global healthcare company GlaxoSmithKline, is adjacent to Prologis Park West London and will enable the property company to expand this successful Park and further grow its presence in the West London market.
Whilst Prologis works with the London Borough of Hillingdon to secure planning permission, GSK will lease-back the site for a short period of time whilst it relocates employees from Stockley Park to its company headquarters, GSK House, in Brentford.
“We’ve been investing in London for the past twenty years and the acquisition of this new site further strengthens our commitment to this important market,” Paul Weston, Regional Head for Prologis UK explains. We expect that the expansion of Prologis Park West London will enable us to add a further 330,000 sq.ft to this high-quality scheme in response to growing demand from our customers.”
Prologis already owns £585M of assets in West London, comprising 23 buildings. Once complete, Prologis Park West London will provide over 750,000 square feet of industrial and logistics space, giving the company an operational footprint of over 1.9 million square feet in the West London market.
Last year, Prologis completed £3 million of regeneration work on and around Prologis Park West London. The work, which took over a year to complete, includes the rehabilitation of the canal footpath, the creation of mooring facilities and footpaths linking the canal to Horton Road, improving the water features on Ironbridge Road and rehabilitating 40 acres of derelict land within the borough. The parcels of land, which include a public park area, will be officially handed over to Hillingdon Borough Council this summer with an ongoing contribution towards their maintenance from Prologis.
Speaking about the regeneration work when he visited the site last year, Cllr Ray Puddifoot, Leader of Hillingdon Borough Council said: “This development is something that both Prologis and Hillingdon Council can be proud of. The amount of open space gained for Hillingdon residents, included in the total development of this site, is four times great than the greenbelt land taken up by the development. This is a truly impressive example of partnership working.”