DP World starts work on new speculative warehouse at London Gateway
DP World in the UK announced that work has begun on a new speculative 119,000 sq ft green warehouse at London Gateway's port-centric Logistics Park, according to the company's release. The company has witnessed its best year for new business in a decade, with demand for premium warehousing space in the South East of England reaching 'unprecedented' levels and a record volume of cargo handled by its two UK logistics hubs at London Gateway and Southampton in the first half of the year. In response to customer demand, the new green warehouse is being fast-tracked for completion in Q3 2023.
In the last 12 months, four major new tenants have taken leases at London Gateway's Logistics Park. Transmec and Magnum, two leading logistics businesses, signed up earlier this year following the news that London City Bond, a leading UK bonded warehousing provider, and OASIS Group, a secure information and data storage service provider, would also locate there. In keeping with DP World's commitment to minimising the environmental impact of its operations, the new facility will be one of the most sustainable warehouses yet built.
It will have a BREEAM 'Outstanding' classification, with a target to deliver a 30 per cent carbon reduction during construction and a 40 per cent reduction in operational carbon emissions. DP World - which operates ports, terminals and logistics businesses on six continents - continues to make major investments in the UK. It announced last year a further GBP300m investment in a new fourth berth at London Gateway, which will lift capacity by a third when it opens in 2024.
Between January and June, London Gateway saw throughput of 1,013,000 TEU, a 10% increase on the previous best half-yearly performance set in the second half of 2021.
This performance contributed to a record volume of cargo for DP World's ports in the UK, with a combined total of 1,937,000 TEU when factoring in throughput at Southampton, Britain's second largest container terminal.