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DP World: Agreement With 2nd Major Tenant In 3 Months; Demand At London Gateway Soars

London City Bond becomes the second leading business in three months to take advantage of the financial benefits of freeport status and locate at DP World London Gateway’s rapidly expanding port-centric logistics park.

The lease shows the extraordinary demand for space at London Gateway – where the speculative 146,000 sq ft green warehouse was fast-tracked for delivery – which has been given a further boost by its status as part of Thames Freeport, with the financial incentives for businesses locating there starting in November last year. London City Bond, which will take the facility on a long-term lease from March, is the UK’s leading tax warehousing company and specializes in storage for renowned drinks trade customers.

Oliver Treneman, Park Development Director at DP World in the UK, said: “We are delighted to welcome the latest tenant to our port-centric logistics park at London Gateway, where we have seen the best year for new business in a decade as demand for premium warehousing space in the South East of England has soared. By establishing a bonded warehouse on the park, London City Bond further consolidates our position as the premier destination for imported wines from the New World.”

“With international trade changing fast as we emerge from the pandemic, DP World – the leading provider of smart logistics solutions – has the space, infrastructure and vision to support our customers at London Gateway as they grow. Our partnership approach, logistics expertise, digital solutions and inter-modal connectivity, particularly rail, help us to solve logistical challenges and give our customers more control over their supply chains.”

Alf Allington, Managing Director at London City Bond, added: “We are delighted to have secured the opportunity to work in partnership with DP World to secure our latest warehouse within London Gateway – our sixteenth site to date.”

“The current shortage of quality warehousing is well documented, and it is therefore even more exciting to have secured this new unit within the freeport as we know from our past experience just what additional benefits this can bring to us as a tenant, whilst at the same time allowing us to offer bespoke port-centric solutions to our customers.”

“We are particularly pleased with the way DP World have managed the build and are on track to hand this over to us on time. We very much look forward to a long and rewarding partnership with them.”

The news marks the latest in a series of major steps forward for London Gateway, where the fast-growing logistics park is the size of 400 football pitches, is the biggest of its kind in Europe and will become home to a workforce of around 10,000 people. DHL, one of the world’s leading contract logistics providers, started construction of the largest warehouse to date on the park in May last year and OASIS Group, which provides information management services and document storage to clients across the UK and Europe, signed a long-term agreement on a 108,973 sq ft warehouse in October.

Source: DP World

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