Activities taking place inside logistics buildings owned and managed by Prologis in the UK are making a “major contribution” to the economy, with goods flowing through the buildings equivalent to approximately 2.6% of UK GDP1.
A report by Oxford Economics, showed that activities carried out by customers operating across the entire Prologis UK portfolio make a “significant contribution” to the national economy, and help employ 32,500 UK people
The Prologis estate which includes 22 parks in the Midlands, South East and London, has also helped generate approximately 2.6% of UK GDP1 by distributing goods across the country.
Robin Woodbridge, head of capital deployment at Prologis UK, said: “This global study confirms the importance of the logistics sector to economies around the world, not least here in the UK, where the value of goods flowing through the buildings on our industrial parks have an estimated economic value equivalent to 2.6% of UK GDP.
“The study also comes at a critical time, with the volume of goods ordered online in the UK increasing significantly during the pandemic, pushing demand for logistics services to unprecedented levels.”
He added: “Based on the demand we are currently seeing for warehouse and other distribution facilities; we expect the economic contribution of our estate and its activities to continue to increase.
There has been a seismic shift in the nation’s shopping habits during the pandemic and many experts believe that things are unlikely to return to pre-COVID levels.”
“This has led to a spike in demand for logistics space. To avoid a shortfall in the future, we’re already working hard to identify land and property suitable for conversion or development in the areas where it is most needed, for example, areas earmarked for industrial logistics development in London.”