Wednesday, 23 March 2011

BMW Moves


ProLogis has agreed an unusual deal with car manufacturer BMW in which it is responsible for the maintenance and repair of a 42,548 sq.m. shed at Pineham, Northamptonshire. BMW is paying £59.18 a sq.m. for the unit on a 10 year lease which will become its regional distribution centre delivering parts for Rolls Royce, Mini and BMW. Given planning permission it could be completed by 2012. The car firm will move from Bracknell, which is now too small for its expanded UK operations. Recent DTZ research said the UK offers good value for logistics occupiers until 2012, despite higher occupancy costs compared with continental Europe. Simon Lloyd of DTZ said: “In the Birmingham market, rents are close to the European average but UK locations have increased total occupancy costs because of high property taxation. Furthermore, fuel duty will increase costs for all UK operations. On the other hand, costs and flexibility remain highly competitive.”

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