Prologis has been given the green light to develop its 35-acre site at Maylands Gateway in Hemel Hempstead. The developer has gained planning permission from Dacorum Borough Council for a 585,000ft² seven-unit scheme, including a £2m investment in local highway infrastructure on the site, which lies close to the M25 and M1. Maylands Gateway, which is part of Hemel’s new Enviro-tech Enterprise Zone, will be dubbed Prologis Park Hemel Hempstead and is expected to create more than 750 new jobs. […]
A property revaluation was responsible for scuppering the bottom line at Bradford-based Expect Distribution in the year to the end of November 2012. It was enough to turn the previous year’s profit before tax of £432,500 into a loss of more than £943,700, despite a 14% rise in turnover from £15.8m to £18.1m.
Total industrial and logistics floorspace take-up fell 22% last year due to weak economic conditions and a shortage of good quality stock, according to property consultancy Jones Lang LaSalle’s latest UK Industrial Property Trends Today report.
Construction has finished on Yusen Logistics’ latest warehouse at Prologis Park Wellingborough West, which gives the group a nationwide footprint of more than 2 million ft².