DP World is set to fast-track the delivery of a speculative 119,000 sq ft green warehouse at London Gateway’s logistic park to meet unprecedented demand for space at the freeport site.
The company has planned to complete its second speculative warehouse in less than a year at London Gateway as a growing number of businesses take advantage of the financial incentives which come with being part of a freeport.
Oliver Treneman, park development director at DP World in the UK, said: “We have seen the best year for new business in a decade as demand for premium warehousing space in the Southeast of England has reached unprecedented levels.
“We are very confident that LG11P (Plot 4040) will be of interest to some of the dozens of retail, manufacturing and logistics businesses looking to expand or establish new operations who have contacted us to take advantage of the unique opportunities on offer since our freeport status was announced.”
Incentives of Thames Freeport include zero stamp duty on leases, significant savings on employer national insurance contributions, accelerated capital allowances and a five year business rates holiday.
The fast-tracked delivery of a second speculative warehouse follows the announcement two months ago that a 108,973 sq ft unit at the site had been leased to OASIS Group, which provides information management and document storage services.
Trenerman continued: “At London Gateway, we have the space, infrastructure and vistion to support customers as they grow.
“Our partnership approach, logistics expertise, digital solutions and intermodal connectivity, particularly rail, help us to solve logistical challenges and give our customers more control over their supply chains.”
At the size of 400 football pitches, the rapidly expanding port-centric logistics park is the biggest of its kind in Europe and will become home to a workforce of around 10,000 within the next seven years.
The new facility will be ready for occupation at the end of Q3 and will be one of the most sustainable warehouses yet built, with a BREEAM ‘Outstanding’ classification, delivering a 30% carbon reduction during construction and 40% reduction in operational carbon emissions.