// British Land to turn empty shopping centres and car parks into hubs for same-day delivery services
// The company put the total value of its pipeline of urban logistics properties at £600m
// British Land said it had spent £189m on assets with “urban logistics potential”
British Land has announced plans to convert empty shopping centres and car parks into urban distribution hubs for online shopping and same-day grocery delivery services.
The property company, which owns shopping centres including Sheffield’s Meadowhall, put the total value of its pipeline of urban logistics properties at £600 million.
British Land said it had spent £189 million on assets with “urban logistics potential”, including in central London.
READ MORE: British Land enjoys rent collection boost after shops exit lockdown
The company is seeking to purchase more warehouses and add extra floors to existing warehouses to rent out to retailers wanting to deliver goods quickly to shoppers in the capital.
British Land said it had bought sites including an £87 million warehouse at Heritage House in Enfield, close to the M25 motorway, and a £20 million underground car park in Finsbury Square, central London.
It will add an extra floor to the Enfield space, which is currently fully let to tenants including the supermarket Waitrose. The Finsbury Square car park will be transformed into a logistics hub to serve the City of London.
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