Associated British Ports (ABP) has launched a £3.5 billion ($4.6 billion) property division to develop its 2,372-acre land bank.
ABP Property owns sites in and around 21 UK ports, which could provide 30 million sq ft of accommodation for new logistics, assembly, manufacturing and other business operations offering the advantage of multimodal transport options – road, rail and sea.
Commercial director Jens Nielsen has assembled a specialist team, headed up by Huw Turner and comprising a range of property professionals.
Nielsen said: “ABP Property comprises a genuinely-significant land bank and we have put together an experienced team to ensure investors, occupiers and agents can fully capitalise on the opportunities that this space offers. Huw and his team across the UK have an impressive track record of delivering property solutions.”
Huw Turner, ABP Group head of property, added: “Our 21 ports serving key shipping, land and rail routes provide great opportunities to develop and utilise available land which offers accommodation solutions for the manufacture and distribution of goods locally, nationally and globally.
“We provide a full one-stop service: from the start to completion of a project and beyond as we create a development partnership with our clients. ABP Property has the land, development expertise and financial resources for the delivery of new accommodation from specification to construction.”
ABP is in the midst of a £1 billion, five-year investment programme designed to create world class facilities for customers.
Earlier in 2017, ABP opened a new vehicle terminal at the port of Southampton in the UK, as part of a £50 million investment which includes a multi-storey storage facility at its Pacific Terminal. This adds 3,400 additional parking spaces for vehicles being exported through Southampton. A second facility will be added as part of phase one developments at the terminal, bringing the combined capacity to 7,600 spaces.
ABP handles 1.5 million finished vehicles a year through its UK ports.