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Tag: logistics

Sustainability sacrificed in race towards tech

Posted on by Keith McKinley

The transport and logistics industry has work to do when it comes to sustainability, writes Stefan Spendrup, VP of Sales, Northern and Western Europe at SOTI. The sector became the largest emitting sector in 2016, and in 2019, it was still producing the same amount of emissions as it was in 2011 – and remains so to this day. Worldwide collaboration is happening to tackle how pollutive this industry is, but even if current and committed policies were to succeed, transport’s carbon emissions would still grow almost 20% by 2050. Highly ambitious policies could cut these emissions by 70% – but not to zero.

But there is also another trend affecting logistics, and many other industries too – and this is e-wastage, caused by the unnecessary disposal of electronics that are in perfect working order. The usual cause of this, according to SOTI’s research, is the perceived need for the latest technologies on the market. And with many logistics companies constantly turning to technology to further digitise their operations, such as 40% of companies offering a more digitised paperless delivery experience and 46% of companies have implemented automatic routing on new digital devices to help save resources and fuel, more hardware is entering the industry all the time. Optimising device’s lifetimes is another important step in tackling the current level of e-wastage being produced.

While device replacement is inevitable, nearly seven in 10 IT leaders of international corporations believe businesses are unnecessarily and prematurely disposing of digital devices. In the logistics and transport sector, tablets are the most popular digital device to streamline green supply chains, complete automated rerouting and deliver new jobs, but they are also amongst the most common devices to be disposed of unnecessarily.

The Need to Stay Ahead

SOTI’s research discovered 56% of IT leaders agree device management is an extremely important environmental issue but not enough is being done to tackle the problem. With global landfills filling up, businesses discarding devices unnecessarily will only amplify the problem. Many IT leaders acknowledge they replace their mobile phones, tablets, laptops and sometimes printers when a newer model enters the market or the device warranty expires. Further exacerbating the negative impact of e-waste, some companies believe having the latest mobile technology hardware makes their organisation more attractive for employees (62%).

Devices are not thrown away accidentally. Societal attitudes about personal technology encourage individuals to regularly replace their devices with the newest model or version on the market. For businesses, it should not be this simple. Both individuals and businesses should not dispose of mobile technologies to acquire a newer model, when the battery dies or because there is an expectation a battery will need replacing soon.

Over 34% of companies are changing devices after employees request an upgrade. This needs to stop if the amount of commercial e-waste is to be reduced. Business innovation is paramount, but not at the cost of unnecessarily disposing of and replacing devices. Businesses are sacrificing sustainability targets and wasting money.

Moving Towards A New Age

While some organisations have considerable financial resources dedicated to device replacement, very few corporate budgets are dedicated to extending the lifespan of devices. There are many cost-effective and sustainable ways to monitor and extend a device’s lifespan. The idea that replacing older devices with the most up-to-date devices attracts potential recruits or clients does not mean better business efficiency if the technology is not fully integrated with existing systems.

SOTI’s report shows 59% of companies have dedicated Enterprise Mobility Management (EMM) strategies to maximise the potential of their devices, but companies are not reaping the benefits of these solutions. EMM strategies can monitor device lifespan, downtime and battery life. More than 90% of IT leaders said their organisation’s devices have replaceable batteries. With these strategies, IT leaders can monitor a device’s battery and replace it when necessary for significantly less than the cost of replacing the hardware.

Battery recycling is becoming more advanced and widely available. Companies can continue to update devices without contributing to the global e-waste problem. With the ongoing global supply chain crisis, companies cannot obtain new technologies as easily as they previously could, so proper integration and device management is crucial. EMM strategies are even more critical in today’s market where organisations feel obligated to stay at the forefront of new technologies. They enable a company to stay up-to-date and in-line with its sustainability targets.

CLICK HERE to download a copy of SOTI’s inaugural sustainability report Reduce, Reuse, Rethink: From Discard Mentality to Tech Sustainability.

 

 

Northants logistics units attract growing businesses

Posted on by Keith McKinley

St. Modwen Logistics, one of the UK’s leading logistics developers and managers, has announced that two growing businesses – bespoke freight company Transglobal and leading paper merchant Premier Paper – have moved into St. Modwen Park at Stanton Cross, Wellingborough, bringing much needed local investment and jobs.

St. Modwen Park at Stanton Cross, Wellingborough is located within the logistics “Golden Triangle”, offering easy access to the A14 and A45 for east to west country connectivity, and quick links to the A1 and M1 road network. Stanton Cross is a flagship mixed-use development district for Northamptonshire which is gaining more than £1bn of investment in Wellingborough by Stanton Cross Developments LLP. Once finished it will feature 1.5 million sq ft of high-specification industrial, logistics, leisure, retail and office space, in addition to opening up access to modern transport links and infrastructure. Furthermore, it will provide 3,650 new homes along with community facilities – offering a large local workforce for businesses looking to operate in or relocate to the area.

St. Modwen Park at Stanton Cross, Wellingborough offers 314,500 sq ft of sustainable warehouse space, initially comprising three buildings – 96,000 sq ft, 43,500 sq ft and the development of a further 175,000 sq ft speculative unit, which will start in Q3 2022. The initial phase has been delivered by principal building contractor, MCS Group.  Future developments of 600,000 sq ft across three parcels of land will offer additional logistics space for the area.

Keir Edmonds, Group Managing Director of MCS Group, said: “We are very proud of this project. We have delivered two very high-quality warehouse units on time for St. Modwen, according to the 39-week programme, at this impressive development at Stanton Cross. As a result, we have a very happy client and two tenants who are now able to commence the fit-out process right on schedule.”

Transglobal signed an agreement for the 96,000 sq ft building, which is a multi-use warehouse used to provide freight solutions by land, sea and air. The move will aid its rapid business growth and accommodate its customers’ evolving needs.

The 43,500 sq ft building has been let to wholesale paper and materials supplier Premier Paper. The unit will allow the company to expand into a larger warehouse space, following the diversification of the business. It will also facilitate its growth, and continue providing stocks of paper, print substrates and packaging to customers across the UK.

The completed buildings, at St. Modwen Park at Stanton Cross, Wellingborough, come with sustainability benefits including features such as PV solar panels, electric vehicle (EV) charging points and will deliver BREEAM Very Good and EPC A accreditations. Infrastructure has been installed to accommodate up to 20% of the parking spaces, which will be served by EV chargers.

Polly Troughton, Managing Director at St. Modwen Logistics, said: “St. Modwen Park at Stanton Cross, Wellingborough, is set to become a thriving commercial hub and we’re delighted to have created the space to accommodate the needs of Transglobal and Premier Paper and offering larger warehouse space which will enable them to continue to grow and succeed.

“The park is set to deliver new job opportunities and provide sustainable warehouse space for rapidly expanded businesses such as these. We welcome them to Wellingborough, which will help to support the town’s wider regeneration.”

Steven Knight, Managing Director at Transglobal, said: “Moving into this additional facility at Wellingborough will not only support our business growth and expansion, but also help us to accommodate the growth of our clients.”

David Jones, Group Marketing Director at Premier Paper Group, said: “We’re pleased to have signed a deal with St. Modwen Logistics.  This new high quality and flexible warehouse facility becomes our latest “flagship” branch which will support our future growth further cementing our position as being one of the most successful businesses of our type in Europe.”

RCP launches new sustainability vision and roadmap

Posted on by Keith McKinley

Rubbermaid Commercial Products LLC (RCP), part of the Newell Brands global portfolio of brands, has launched its brand sustainability vision with a roadmap outlining global, tangible pledges the organisation is making as it continues its journey toward operating as sustainably as possible.

As of 2019, 59% of businesses claimed to have internal sustainability initiatives in place. Pressured by their customers and staff into being demonstrably ‘green’, without transparency and clear definitions of ‘green’, confusion about which practices are actually sustainable can frustrate businesses and consumers alike.

Scientists are increasingly focusing on what effect humans are having on extinction rates, the legacy of acid rain is manifest in acidic oceans and particles of plastic can now be found in human blood. People see these news stories every day and are pressuring businesses to do more.

Through its Love Sustainability Journey, RCP is creating transparent conversation around sustainable practices and goals. The Love Sustainability Journey charts a plan for progress.

“Our Love Sustainability Journey is the first step to engaging our customers, regarding everything that Rubbermaid Commercial Products is doing globally to ensure we operate as sustainably as we can,’’ explained Mike McDermott, CEO of the Commercial Group at Newell Brands.

RCP is dedicated to being part of a concerted sustainability effort across the business world not just through its products, but through vital education and sustainability tools.

As a global leader in the design, manufacturing and delivery of cleaning, hygiene and waste management products, RCP has a significant sustainability role to play at both ends of the process: protecting resources and reducing waste.

Mapping a path across five key areas – Products, Certification and Innovation, Packaging, Operations, Culture and Education – the Sustainability Journey begins the important process of outlining how RCP and other businesses can make incremental gains.

Identifying quantifiable and clear targets is key to RCP’s approach. In addition to aligning itself with Newell Brands’ Corporate Citizenship Goals, RCP is also committing to developing and tracking goals specifically related to its product portfolio, and the associated operations, packaging and certification.

Newell Brands’ packaging goals, for example, include a 2025 target for 100% of direct-sourced paper-based packaging to come from certified, verified or recycled sources.  This specific goal sits alongside six key sustainability actions for product design, which include ‘system efficiency’, supporting the reduction of resource waste throughout each phase of a product’s lifecycle.

Developing long-lasting products is also central to RCP’s Sustainability Journey. McDermott continued: ‘’RCP has a heritage of developing highly durable products that stand the test of time. This equates to less re-manufacture, less transport and less storage than lower quality alternative products that frequently need replacing. All of which is better for the planet. We know, as a manufacturing business, we can’t stop there.’’

Reducing waste to landfill by 90% is another ambitious Newell Brands 2025 target, which RCP plans to support at its own operations locations.

These tangible goals are underscored by RCP‘s Culture and Education Journey target to hold itself to account by issuing its first Sustainability Annual Report in 2023.  A very real way of monitoring progress, the Culture and Education Journey ensures that the team has a shared understanding of RCP’s sustainability goals: environmental education plays a vital role across the organisation.

McDermott concluded: “Newell’s Values constitute Truth, Transparency, Teamwork and Trust, all of which we intend to provide through our journey.

“Investing in sustainable solutions is not only the right thing to do, but is imperative to the long-term value and viability of our resources, our people, our communities and our business.”

CLICK HERE to download The Love Sustainability Journey.

 

 

FedEx Logistics Moves into new Singapore Office

Posted on by David Priestman

FedEx Logistics, a subsidiary of FedEx Corp. (NYSE: FDX) and provider of integrated solutions that facilitate global trade, announced the move of its office in Singapore to the city-state’s Changi Business Park, in the latest expansion of its Asia, Middle East, and Africa (AMEA) worldwide network.

“This move enables us to better serve our customers not just in the AMEA region but around the world,” said Patrick Moebel, President of FedEx Trade Networks. “Our local, regional, and global customers who trade with Singapore benefit from our global reach and the many integrated services and solutions offered by FedEx Logistics. We are continuing to deliver for our customers by helping them navigate global commerce with the guidance of local expertise.”

The FedEx Logistics Singapore office expansion further elevates the company’s overall global portfolio, providing one-source, end-to-end logistics solutions and delivering best-in-class services. FedEx Logistics Singapore operates a robust suite of supply chain services including air freight, ocean freight, customs brokerage, air and ocean consolidation service, multimodal transportation services of sea/air, air/sea and truck/air, and cross-dock services. The company also operates as the air and ocean gateway with its road freight network for Southeast Asian countries, including Malaysia, Thailand, and Singapore.

The enhanced office demonstrates the company’s role in expanding global trade, building supply chain solutions, and facilitating the transportation of local products and services to customers around the world. FedEx Logistics AMEA region works within the global FedEx network to provide customers with logistics solutions to more than 220 countries and territories.

FedEx Logistics plays a key role within the FedEx portfolio with its comprehensive suite of integrated logistics solutions. The company provides air and ocean freight forwarding, supply chain solutions, customs brokerage, and trade management tools and data from a single trusted source.

Prologis Park Hams Hall fully occupied

Posted on by David Priestman

Prologis, one of the UK’s leading developers of logistics property, has successfully preleased all of speculatively built Prologis Park Hams Hall with final unit, DC4, being let to West Midlands-based AMG Logistics on a 15-year lease.

The full occupancy of the Park, ahead of practical completion later this summer, demonstrates the site’s strength and broad appeal particularly to both automotive and logistics sectors.

Spanning 85,000 sq ft, DC4, like all Prologis units, has sustainability built into the fabric of the building; Net zero carbon in construction, BREEAM-rated ‘Excellent’ and a projected EPC A rating.

This transaction follows on from Britishvolt recently preleasing Hams Hall DC2, a customer leading the way in sustainable, low-carbon battery innovation, and Hams Hall DC3 being snapped up by international multi-modal logistics operator, LTS Global Solutions.

Located only 10 miles from Birmingham city centre and one mile from M42 Junction 9, Prologis Park Hams Hall is strategically located to offer its customers prime accessibility in and around the Midlands, and further afield.

Andrew Griffiths, Managing Director, AMG Logistics, said: “We are delighted to secure DC4 Hams Hall to help facilitate our growth plans and take our business to the next level. Operating from a highly sustainable unit was a key factor for our customers and Prologis Park Hams Hall ticked all the boxes in that regard. It has been great to work with the Prologis team to get the deal over the line.”

Tom Price, Director, Capital Deployment and Leasing, Prologis UK, added: “Letting DC4 prior to its completion is testament to appetite within the market for top quality, well-located logistics property in and around the Midlands. Reaching full occupancy is a landmark moment for Hams Hall and we’re all looking forward to welcoming AMG Logistics and our other new customers to the park once the buildings are complete.”

Danny Nelson, Head of Industrial, Logistics and Distribution, Winvic Construction Ltd, concluded: “Our team has been working hard on site to deliver a further three high quality industrial facilities at Hams Hall for our client, Prologis. We are delighted to see the last unit, DC4, has been let and we are looking forward to handing over this sustainable facility to AMG Logistics at the end of the summer.”

 

M&S acquires Gist

Posted on by David Priestman

Marks and Spencer Group plc has announced it is to acquire Gist Limited, the principal contract logistics provider to M&S Food, from Storeshield Limited, a subsidiary of The BOC Group Limited.

M&S Food says it has restored an industry-leading position in volume growth over the past four years, developed bigger stores and entered new channels through the investment in Ocado Retail and through franchise partnerships, including over 2,500 Costa stores. However, there is a substantial opportunity to create a more efficient and effective supply chain through investment in the network to reduce the cost to serve, update legacy systems and improve automation.

Gist provides the majority of M&S Food logistics services via a network of eight primary and 10 secondary distribution centres located across the UK and the Republic of Ireland, including a number of freehold warehouses. The existing arrangement has a higher cost legacy contract which expires in 2027. The acquisition will generate immediate benefits to M&S through the elimination of contractual fees and costs and the implementation of aligned operational processes. Through acquiring Gist, M&S can also take control of and invest in the network, building on the successful implementation of its “Vangarde” supply chain optimisation programme.

Under the transaction, M&S is acquiring the entire share capital of Gist for an initial consideration of £145m in cash. A further amount of £85m plus interest will be payable in cash from the proceeds of the intended onward disposal of freehold properties or, at the latest, on the third anniversary of completion. An additional profit share from the disposal proceeds of up to £25m plus interest will be payable under certain conditions. M&S has the ability to retain the freehold properties should it wish to do so in which case the full amount of £110m plus interest will be payable.

The Gist business being acquired generated a proforma EBITDA of c.£55m in the year ended December 2021, with the majority of profit reflecting management fees recharged to M&S under contractual arrangements, which will be eliminated upon consolidation to M&S. The transaction is expected to be earnings enhancing in its first full year and will be funded through existing cash reserves.

Stuart Machin, M&S Chief Executive, said: “M&S has been tied to a higher cost legacy contract, limiting both our incentive to invest and our growth. The last two years have shown what can be achieved by working collaboratively alongside our partners at Gist. This has given me confidence that now is the time to take action and remove an impediment to our growth. We have therefore acted decisively to acquire Gist, taking control of our Food supply chain for the first time in our history. This is the first step in a multi-year plan which will transform the entire supply chain.”

Gist also provides a limited number of logistics services for third parties, as well as freight forwarding for BOC. Its food service division will remain with BOC post-completion, with appropriate transitional service agreements in place to ensure business continuity. Gist has approximately 5,800 employees, led by an experienced management team, including CEO Michael Chambers who will continue to lead the business and report to the Commercial Director of M&S Food.

 

Blockchain technology as a transformational force

Posted on by Keith McKinley

The global logistics industry, worth $8.5tn, is the backbone of economies and thriving commerce, writes Anurag Bhatia (pictured), Senior Vice President and Head of Europe at Mphasis. Throughout the pandemic, the industry was relied on for the distribution of crucial vaccines, which proved a useful gauge of the effectiveness – and weaknesses – of supply chains. We also saw how the supply chain crisis throughout Europe in 2021 hit businesses and industry.

It’s vital that companies in the space adapt to the new digital era and stay agile enough to handle sudden market shifts or changes in demand. This necessitates adopting innovation to address industry challenges, instil greater transparency and optimise operations.

The advent of Web 3.0 signals the further evolution of distributed ledger technologies, most notably blockchain. The blockchain is ideally placed to resolve logistics and supply chain management pain points, and can have a transformational effect on business models and the future of logistics.

Addressing key supply chain challenges

One of the top challenges faced by the logistics industry is the lack of transparency and traceability involved in commercial freight. This not only causes inaccuracies and delays but can also lead to cost and reputational consequences for businesses.

As the market grows, so does the supply chain and its complexities when it comes to planning and maintaining the storage and delivery of goods to successfully meet the demands of the end customer. There’s a pressing need to implement more streamlined processes to optimise these activities, made all the more difficult by the many different geographies, local regulations and administration, payments and various other stages of getting goods from point A to B.

Ensuring on-time deliveries requires keeping on top of vast amounts of documentation, inventory management and route optimisation. In an increasingly digitalised world, as data sets become bigger, companies also face new threats such as data leakage, privacy concerns, fraud and the need to spot counterfeit goods fast. In fact, cargo loss is costing the industry $50bn per year globally.

Evidently something needs to change, and many logistics leaders are turning to the power of technological innovation to address roadblocks and boost operational and cost efficiencies, transparency and resilience in the face of a fast-moving market. Blockchain technologies can play a significant part in facilitating this much-needed change.

Blockchain brings compelling benefits

A core advantage of the blockchain is its ability to bring a previously unattainable level of efficiency and productivity in shipping and deliveries. It can aid the automation of manual activities and the entire procurement process, to eliminate the likelihood of human error and optimise workflows, thereby reducing the costs and time associated with cumbersome administrative processes.

It can speed up and streamline the exchange and verification of documents, tariffs, payments and invoicing, verification of ownership, quality checks and more, providing a ledger of all relevant data. Previously, these processes fell to manual efforts and exposed supply chains to risks of fraud, mistakes, and delays. Through the application of smart contracts, blockchain solutions fully automate all supply chain agreements, which also helps with dispute resolution between parties.

Another principal benefit of the blockchain is that it enables end-to-end real time tracking of locations, product movement and fleet performance, through shared access to data and digital documents for all participants along the supply chain.

Further, the immutable nature of the blockchain, which is based on cryptographic algorithms, can facilitate verifiable, fully traceable transactions and has far greater security credentials than other networks. While other systems tend to be centralised – meaning they are left open to attacks and modification – blockchain-based solutions offer a decentralised and tamper-proof way to record important information on a distributed ledger. This maintains the integrity of data stored on the series of ‘blocks’ on the chain, which cannot be compromised or corrupted, boosting firms’ ability to manage risk and comply with data protection regulations.

Instilling trust & transparency into operations

By leaning on the power of the blockchain – particularly when paired with the capabilities of other innovations in AI, machine learning and IoT – logistics businesses can drive greater supply chain transparency. Through better access to information, and a verifiable record of each stage in the shipping and delivery process, they can spend less time validating goods, lower the cost implications of counterfeit or mis-placed products, reduce duplication and improve compliance and reporting.

Furthermore, businesses can maintain more control over data and better communication between multiple parties. This allows more attention to be directed to making the best use of data to identify opportunities for even greater efficiencies, and insights that can add real value to businesses. This can cultivate trust and a solid track record that reflects on customer satisfaction, thereby strengthening companies’ competitive edge and resilience.

In the global logistics and transportation industry, the blockchain market is set to grow by almost $889m by 2025 compared with 2021. Despite being at a fairly early stage of adoption within logistics, awareness of the benefits of blockchain is growing. Major players, including MAERSK and Amazon, have already integrated it into their operations to improve supply chain visibility and accelerate the shipping process, and the rest of the market should follow in due course.

Embracing blockchain has the potential to fundamentally transform the logistics industry, unlocking greater value and propelling it to the next level of its tremendous growth trajectory.

 

Young Logistics Professionals Award winners announced

Posted on by Keith McKinley

FIATA (the International Federation of Freight Forwarders Associations) and TT Club, the international freight transport insurer, have revealed this year’s regional winners of the Young Logistics Professionals (YLP) Award 2022.

The 2022 regional winners are:

Region Africa and Middle East: Ruvimbo Gukwe, SFAAZ, Zimbabwe – Dissertation: Growth by COVID

Region Americas: Karina Daniela Perez Perez, CIFFA, Canada – Dissertation: Resilient Solutions: The Future of Freight Forwarding and Logistics

Region Asia-Pacific: Avishkar Srivastava, FFFAI, India – Dissertation: Sustainability through efficiency Decarbonising trade lanes through sustainable logistics

Region Europe: Maximilian Druschler, DSLV, Germany – Dissertation: Logistics’ crucial role in the battle against the UN Global Issues

FIATA Director General, Dr Stéphane Graber, shared his congratulations to the four regional winners: “The YLP Award is of outmost importance for FIATA. It aims at developing the youth’s interest in the industry but also the soft skills that are crucial in the daily work of our demanding sector. I would like to extend my warmest congratulations to all the YLP Award 2022 candidates and most particularly to the four regional winners for their impressive dissertations. They have managed to put into words complex processes of the global supply chain while taking into account diverse parameters. The future of logistics is in the youth’s hands, and I could not be more proud.”

“All four regions were represented by a variety of impressive entries and the judges were struck by the high incidence of projects requiring close consideration of environmental factors and prioritising sustainability,” says Mike Yarwood, Managing Director Loss Prevention, TT Club and Chair of the Panel of Judges. “Multimodal solutions were to the fore and in addition to medical supplies, cargoes featured included insecticides, rail tracks, military ordinance, drilling rods and a satellite. We never tire of reading about the innovative approaches to logistical challenges employed by our young professionals. TT Club as ever is both proud and encouraged by the high levels of competence portrayed throughout the sector and is committed to maintaining its longlasting support for the awards.”

Both FIATA and TT Club are thrilled to continue recognising the inspirational and dynamic minds of the young logistics professionals’ community. As we slowly move away from the pandemic, FIATA and TT Club are looking forward to returning to the physical competition format. This year and if the conditions allow, the four regional winners will present their dissertations at the FIATA World Congress in Busan, South Korea, during a dedicated session with the final judging and announcement of the YLP Global Winner 2022. This will be a wonderful opportunity for the regional winners to fully immerse themselves in the freight forwarding community and meet their counterparts in Korea’s marine capital city.

AXA IM Alts acquires Spanish last-mile logistics asset

Posted on by Keith McKinley

AXA IM Alts, a global leader in alternative investments with €188bn of assets under management, has completed, on behalf of clients, the acquisition of a sizeable and newly developed last-mile logistics asset in Barcelona, Spain. The investment opportunity was sourced from Acciona, a global leader in providing regenerative solutions for a decarbonized economy, who acted as developer for the project and pre-let the facility to a leading global e-commerce operator on a long-term lease.

The c.58, 000 sq m asset comprises a bespoke last-mile logistics operating centre spread across 13,350 sq m of high-quality warehouse space alongside 44,540 sq m of parking, with capacity to accommodate more than 600 delivery vans. The asset will have a very strong covenant from day one, while its innovative design improves current best-practice distribution systems, supporting long-term value.

Located in central Barcelona, the second most populated city in Spain, the asset will benefit from a strategic logistics location with good transport connections due to its proximity to the main highways and ports. Additionally, the asset borders one of the main residential districts in the city centre, creating a genuine last-mile logistics network and supporting the growing demand for rapid e-commerce delivery time frames.

Due to the scarcity of vacant development land of meaningful size in the area, this acquisition presents a significant opportunity to increase AXA IM Alts’ exposure to high-quality last-mile logistics in Spain. This acquisition adds to the business’ portfolio of 158 European logistics assets located across key distribution hubs in 11 countries, and brings its European logistics assets under management to over €5bn, spread across c.5.5m sq m of high-quality primarily big box or last-mile urban logistics space.

Blackacre completes Ipswich logistics deal

Posted on by Keith McKinley

JMW Solicitors’ Real Estate team has advised Blackacre on a £13m deal with Lay & Wheeler that will see the development of a new 114,000 sq ft unit at Port One Logistics Park in Ipswich, UK.

The wine merchant has agreed a £13.85m senior development loan with Cain International to forward-fund the delivery of Unit 6.

Lay & Wheeler was founded in 1854 and remains one of Britain’s longest-standing fine wine merchants – it is a market-leading name globally and has won a multitude of awards.

Port One is a strategic development located close to Ipswich and Felixstowe Port, benefiting from direct access to Junction 52 of the A14, a major arterial route. Its proximity to Felixstowe makes it the most centrally located customs site within the Freeport East Zone. The Zone includes both Felixstowe and Harwich, making them, combined, the UK’s largest container port.

Simon Maddox, Real Estate Partner at JMW Solicitors, said: “We’re pleased to have been able to support Blackacre on this latest deal at Port One – it will no doubt prove an ideal location for Lay & Wheeler’s new warehouse and head office as the business continues to grow.

“There remains a significant shortage of industrial and logistics stock entering the market – with a record-breaking volume of space under offer at the end of Q1 2022, demand will remain high for high-quality, well-located schemes like Port One.”

Development work for Unit 6 is now underway on site and is expected to reach PC by November 2023.

JMW Solicitors is one of the UK’s leading full service law firms, with offices in Manchester, Liverpool and London.

 

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