Paul Hanley, Vice President Market Officer of Prologis UK Limited welcomed the Hemel Hempstead Business Ambassadors to the impressive Prologis Park Hemel Hempstead on Thursday 24 January for the Ambassadors first meeting of 2019.
Over the past 20 years, Prologis has invested £100 million in distribution buildings on Maylands Business Park, and Prologis Park Hemel Hempstead is its latest £80 million investment in the local economy, bringing a further 750 new jobs to the area.
Hanley commented: “The previous development was so successful, and we received such good feedback that in 2016 when Prologis had opportunity to acquire the much larger 35-acre plot, we jumped at the chance to strengthen our relationship with the area.”
Prologis recently acquired a further 11.5 acres of development land in Hemel Hempstead, enabling the property company to expand Prologis Park Hemel Hempstead to cope with the growing demand. “This particular scheme has only been completed circa 8 weeks,” said Hanley, “and yet over 75% is already let or under offer. We’re seeing such a high level of demand that we were delighted to announce recently that we have subsequently acquired a further 11.5 acres from Aviva which, subject to planning, will bring the land back into employment use without having any impact on the town centre.”
Hanley discussed in detail what attracts not only Prologis but its customers to Dacorum such as the excellent location and the great accessibility and connectivity this provides; the strong and ever expanding labour pool; and the benefits of being part of a well-established and forward-thinking business community.
Hanley concluded: “It’s important that we create a high-quality working environment for our customers and their employees, and we’re delighted to play a role in the growth and evolution of Hemel Hempstead. It’s our intention to maintain our commitment to providing high quality Prologis Parks where businesses can thrive, employees can flourish and local communities can grow.”
Sally Marshall, Chief Executive of Dacorum Borough Council gave an extremely informative presentation about the financial landscape facing the council and their budget proposals for 2019/20. Significant investment has already been made over and above the statutory core business of the council, to improve and encourage economic growth, including £30m of regeneration in the town centre; £1.5m for a splash park and play area to make the environment a good place for families to live and grow; and a £2m investment to tackle homelessness with a new hostel.
Of the national local government funding gap and funding review by the government, Marshall said, “We believe that by doing the simple things well we’ve been able to protect our front-line services in addition to delivering significant investment in the local area.
“We’ve improved our commercial approach around land and property transactions by renegotiating contracts and awarding new contracts to the private sector where it was viable to do so and continued focus on our efficiency.”
Marshall also outlined the evolving nature of the council and the partnership work already being undertaken with the growth and infrastructure strategy and South West Hertfordshire collaboration to deliver amongst other things, quality new homes to attract people to visit and live in the area and to support a vibrant economy. Marshall concluded, “Master planning in this way allows us to focus on generating high quality garden communities with local facilities and extensive open space with the necessary infrastructure behind it.”
For further information, visit www.investhemel.co.uk or contact Gary Stringer, Ambassador Place Manager, on tel: 01442 228808.