British Land’s plans for logistics sites in London, Sheffield and Teesside Posted on: April 14th, 2021 Property development giants British Land has divulged further details of its plan to create a logistics portfolio. [emaillocker id=”71749″] The retail specialists today released a trading update report, ahead of the announcement of its full-year results on May 26, and in it outlined its wish to take advantage of the unrelenting growth in demand for warehousing. The report spells out the firm’s desire to develop logistics parks on Teesside and in South Yorkshire (Meadowhall). Together they would span more than 1million sqft and planning applications are expected to be submitted in the coming months. British Land has also paid £87m for a 200,000 sqft warehouse in Enfield which is currently fully let to Waitrose and Crown Records Management. The company intends to increase the density of warehouse space at the site. The report added: “Leveraging our skills in site assembly, planning and delivering complex developments in London and our strong relationships with retailers, we are also evaluating urban logistics development opportunities inside the M25, where we believe rental growth prospects are most compelling.” The report also gave an update on the company’s £3.3bn Canada Water development in South East London. Flexible planning applications have been granted and demolition work is due to start later this month. The mixed-use scheme will take 15 years to complete and it include offices, retail, leisure, residential and new public spaces. One of the public plazas that will be a feature of British Land’s Canada Water development [/emaillocker]
