Prologis chosen to develop East Midlands logistics park
Prologis has been selected by Manchester Airports Group (MAG) as its partner to take forward the development of a new industrial logistics and advanced manufacturing park near East Midlands Airport, which will result in a £1 billion investment and the creation of 2,000 jobs.
MAG owns and operates East Midlands Airport (EMA) in Leicestershire, which is the UK’s second-largest air cargo hub behind Heathrow Airport and is scaling up its cargo operations to meet rising demand. Prologis research forecasts that EMA’s cargo volumes will grow by 54% between now and 2043.
“Our partnership with MAG aims to realise the full potential of this strategic hub for international logistics,” said Paul Weston, regional head, Prologis UK. “Our shared vision is to leverage the Freeport status and central location of EMA to create a high-impact gateway that drives economic growth, innovation and employment opportunities across the Midlands. By bringing our expertise in logistics developments to the table, we are confident that our partnership will unlock significant benefits for both the local community and the broader UK economy.”
The new logistics park is a designated East Midlands Freeport tax site which is designed to stimulate economic growth, investment and employment in the region, helping to unlock of investment in and around the airport.
The park will be part of a “corridor of innovation” around MAG’s airports across the North, Midlands and South-East England in key growth-driving sectors including life sciences and advanced manufacturing. The development site, south of the airport, will offer operators the option of various tax and customs relief and simplified import & export procedures.
The new park will incorporate industry-leading standards of sustainability in its design, construction, and management. During construction, embodied carbon will be measured, reduced and mitigated. In operation, the buildings at the park will have a net-zero regulated energy use in line with an EPC A+ rating.
As part of the partnership, Prologis will also build a dedicated centre for logistics job training and education in Leicestershire. The centre will host the Prologis Warehousing and Logistics Training programme, providing local people with the skills and experiences needed to begin and progress their career in the sector.
MAG is looking to work in partnership with Prologis to establish its three major airports as economic anchors within a growing corridor of innovation across the North, Midlands and South East England. This will stimulate key economic sectors identified in the Government’s Industrial Strategy such as life sciences and advanced manufacturing. Prologis has developed logistic parks at some of the world’s largest international airports including London, Amsterdam and New York.
“This investment in East Midlands Freeport is a clear demonstration of the UK’s strength as a hub for innovation, will create thousands of new jobs driving growth in the region and strengthen the UK’s position as a leader in advanced manufacturing and logistics,” the UK’s Chancellor of the Exchequer Rachel Reeves said when announcing the partnership as part of the UK Government’s plan to kickstart economic growth.
Reeves also announced plans to create an Oxford-Cambridge Growth Corridor, which she said could add up to £78 billion to the UK economy by 2035. The plan is focused on fast-tracking the building of new homes and the development of new laboratories in and around Cambridge, as well as a direct fast train link between the two cities. The area has the “potential to be Europe’s Silicon Valley”, the Chancellor said.