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London

Jones Lang LaSalle help deliver first tenant to London Gateway project

Jones Lang LaSalle play a part in securing Marks & Spencer as first occupier in groundbreaking UK logistics park


Jones Lang LaSalle has advised DP World on a new 900,000 sq ft Marks & Spencer distribution centre at London Gateway, which will be one of the largest new logistics park development in Europe.  Subject to planning the development will start in 2014.

Marks & Spencer are the first occupiers  to be announced at the London Gateway site, which will be connected to a new 3.5m TEU deep-sea container port which is due to open in Q4 2013, located just east of London on the north bank of the Thames.
Jones Lang LaSalle was appointed to be sole property agents for the project in April.
 
Marks & Spencer alone will bring £200 million of investment to the area and will create around 700 jobs. The site was this week visited by Prime Minister David Cameron who described the area as an ‘emblem of ambition.’
 
Tim Johnson, Director in the National Industrial & Logistics team at Jones Lang LaSalle commented, “London Gateway will transform logistics across the country. It is fitting that the Logistics Park’s first confirmed occupier is Marks & Spencer, a world famous UK brand. The development has potential to transform UK supply chain by offering a solution which complements the more traditional Midlands locations  as it will offer reduced transport costs created from having warehousing at the port of entry and closer to key UK consumer markets. It is fantastic that Jones Lang LaSalle is involved in such an important project and will continue to play a part in ensuring that big retailers take up residence in the park.”
 
Philip Marsden, Director of Capital Markets and UK Board member at Jones Lang LaSalle commented, “There is a buzz about the development because of its high political and economic profile and the obvious cost savings to be had. There are currently a number of discussions and initiatives taking place which should soon lead to substantially more take up of the remaining 8 million square footage on offer.  Interested parties need to realize supply at London Gateway is not unlimited”