Amazon is increasing its warehousing footing in UK
Updated on June 18th, 2020 at 14:56 IST
Amazon is driven on taking more than 5 million sq ft of space than it did in 2018 and has acquired more space in UK market so far in 2020 than it did in the whole 2019. And given the number of deals and acquisitions in the pipeline, Amazon could almost double the amount of space it has already acquired in 2020.
According to Gerald Eve’s latest Prime Logistics report Amazon, by their own acquisitive standards, were fairly subdued in 2019, committing to just three buildings totalling just over 3 million sq ft. This is a significant reduction on the 5 million sq ft the online retailer took in 2018.
However the report continues: “They have started 2020 on a more acquisitive footing however and have secured a site at Follingsby Park in the North East to potentially develop another large fulfilment centre.??
“The company also has a handful of other buildings in the planning process which are likely to help increase their UK occupancy in 2020, despite the negative impacts of the spread of Covid-19.??“The online retail sector is one of the few sectors to see some short and longer term benefits from the lockdown measures in place in early 2020. It seems that Amazon is going to continue to invest in its own property portfolio by purchasing land for development and continue to develop tall, multi-storey facilities for occupation.”
??Logistics manager understands that Amazon has leased, acquired or been linked to more than 5 million sq ft of space so far this year. Follingsby Max could provide 2.5 million sq ft of space, alongside a further 2 million sq ft at Gateway 45 in Leeds. The company has also leased or acquired nearly 500,000 sq ft across seven sites in the UK for use as delivery stations.