- The real estate firm ends 2022 with 100% occupancy of its delivered properties.
- The acquisition of OAXIS GLP Park Madrid Villaverde and the development of Magna Park Tauro Illescas underpin the growth of GLP in Spain.
Madrid, 17 January 2023 – GLP has continued its growth trajectory in Spain during 2022. GLP has consolidated its ongoing business in the country and completed new acquisitions, along with achieving 100% occupancy of its existing properties. GLP doubled its leased surface area compared to 2021, along with a doubling of the land it has available for new projects.
New projects include the acquisition of the land for OAXIS GLP Park Madrid Villaverde, a new development which will be a future benchmark in terms of sustainability, energy efficiency, employee welfare and logistics efficiency. The site’s connection to the city of Madrid will make it one of the country’s best-located logistics parks.
Another major milestone for GLP was the signing of an agreement with a large distribution company for the development of its new state-of-the-art logistics warehouse. The company will use a 100,000 SQM building at Magna Park Tauro Illescas to service both its physical stores in Spain and its e-commerce platforms. Another 30,000 SQM of space will remain available for a possible turnkey agreement and a further 35,000 SQM project is currently being built and is expected to be delivered at the end of this month.
2022 saw the acquisition of approximately 400,000 SQM of land in Spain, which will facilitate the development of 250,000 SQM of state-of-the-art warehouse space over the next two years.
GLP also achieved 100% occupancy of its existing properties in Spain, totaling more than 115,000 SQM. GLP will therefore begin the construction of 177,000 SQM of additional space across six new properties, some of which are already leased.
GLP Spain’s first investment in stabilised real estate was completed with the acquisition of a 40,000 SQM warehouse in Vilanova i la Geltrú, Barcelona, which is leased to Venca – the project has good prospects for 2023.
Maintaining respect for the environment and local communities has been one of GLP’s objectives for years; the firm is a world leader in sustainability strategies and is one of the few real estate groups with 100% of its facilities to have BREEAM Very Good certification or higher.
In 2023, GLP Spain will launch its first logistics park incorporating wellness measures and certifications, which will also be the first of its kind in the Spanish market. GLP continues to invest in other projects, such as its first Net Zero building and renewable energy sources such as photovoltaic panels across all its projects.
Óscar Heras, Director of GLP Spain, said: “Despite challenges in the wider geopolitical and macro-economic environment, GLP has continued to grow its logistics activity in Spain considerably during 2022, demonstrating our resilience. We expect to drive similar momentum in 2023, despite the same uncertainties persisting, and we have a number of exciting projects already in the pipeline for the year ahead.”
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