Major new warehousing developments in Stoke on Trent and Dartford are promised, as two of the UK’s largest logistics property businesses declare their annual results.
Tritax Big Box Reit, the investment business, reported net asset value per share up 10% after a year in which they acquired 11 large warehouses with a total purchase price of £434.99 million. They now own 22.7 million sq ft of warehousing.
The report discloses that this includes a warehousing development site of 114 acres at Littlebrook, Dartford.
Harworth Group, the North and Midlands warehouse developer, , has reported a second year of double digit asset growth, up 12.5%, the same as in 2016.
The land business has secured planning permission for another 3 million sq ft of commercial floorspace, bringing their consented total to more than 12 million sq ft.
Attention will now turn to the 106 acre Chatterley Valley site near Stoke on Trent, where Harworth recently acquired the final 80 acres.
Harworth Chief Executive Owen Michaelson said: ”The big Midlands opportunity is Chatterley Valley where we could see up to 1M SF of new commercial floorspace. There’s a lot of technical work still to do on the late, but we are hoping that by late this year we will have level building platforms,”