Prologis UK has entered the North West market with the acquisition of an 8.66-acre regeneration site at Trafford Park in Greater Manchester for an undisclosed sum.
Trafford Park, Manchester
Prologis plans to transform the Barton Dock Road site into an all-electric, 200,000 sq ft, modern, sustainable facility built to BREEAM ‘Outstanding’ and EPC ‘A+’ ratings.
Paul Weston, regional head at Prologis UK, said: “The North West is one of the UK’s most important logistics markets, and Trafford Park gives us an excellent foothold in a region that has been identified as a strategic priority.
“This acquisition builds on our long-term commitment to the UK and demonstrates how foreign direct investment can fuel long-term economic growth.”
The acquisition is the latest step in Prologis’s plan to accelerate its growth in the UK. The company is planning considerable investment across the North West through development, regeneration and acquisition, to create up to 5m sq ft of prime logistics space.
This is in addition to the £5.6bn it has spent in the UK over the past decade and a £5.5bn investment plan for the coming years.
Trafford Park is home to more than 1,300 businesses and around 35,000 employees, offering access to Greater Manchester’s consumer population, the M60, M62 and M6 motorway corridors, the Port of Liverpool and Manchester Airport.
B8 Real Estate acted for Prologis and Cushman & Wakefield acted for the vendor on the Barton Dock Road site.
Prologis UK’s US sister company is currently embroiled in a long-running takeover battle with SEGRO.
