Logistics property developer Prologis UK is looking to expand its industrial park in Hemel Hempstead.
The company has just acquired a further 11.58 acres of land next to its existing Prologis Park Hemel Hempstead.
The new site has been acquired from Aviva Investors and will allow Prologis to extend its current park to deal with growing demand.
Paul Hanley, leasing and development officer for Prologis, said: “Prologis Park is our newest industrial and logistics park in the South East and is attracting interest from both local and national companies thanks its proximity to London and the range of building sizes available.
“Seventy two per cent of the park is already leased, and we completed a trio of lettings before Christmas with Hermes Parcels, Riwal UK and Nile Trading signing leases before the park was complete.”
Prologis already owns four distribution buildings on the Maylands Industrial Estate.
Once completed, Prologis Park Hemel Hempstead will offer more than 750,000 square feet of industrial and logistics space.
Mr Hanley said it would give the company a development footprint of more than 1.4 million square feet in the area.
The announcement further underlines the company’s commitment to Hemel Hempstead, as
Gary Stringer of Hemel Hempstead Business Ambassadors, said the new announcement underlined the commitment of Prologis to Hemel Hempstead.
He said: “Over the past 20 years, Prologis has invested £100 million in the industrial logistics buildings on Maylands Business Park.
“Prologis Hemel Hempstead marks a new chapter in the company’s investment in the local economy which amounts to a further £80 million and the creation of 750 new jobs.”