Search

New property arm of Associated British Ports will explore opportunities in the East

An aeriel view of the Port of Ipswich, operated by Associated British Ports (ABP). Picture: ABP

An aeriel view of the Port of Ipswich, operated by Associated British Ports (ABP). Picture: ABP

ABP

A port operator which manages three East Anglian sites is planning big changes to its 2,372 acre land bank through its revamped £3.5bn property arm.

Port of IpswichPort of Ipswich

Associated British Ports (ABP) – which owns 21 UK ports including King’s Lynn, Lowestoft and Ipswich – has launched ABP Property to invest in and develop sites in “strategically significant” locations.

ABP Property owns sites in and around its parent company’s locations, with the capacity for up to 30 million sq ft of accommodation for new logistics, assembly, manufacturing and other business operations.

ABP’s property division operates an existing investment portfolio amounting to around £2bn.

The new property arm’s team will include developers and commercial agents and will be led by Huw Turner, group head of property at ABP.

“We have spent a significant amount of money in our East Anglian ports of late, building new facilities. It is a good example of how we are continuing to invest in our ports and property,” said Mr Turner.

“Whether our customers’ business is port related or not, the size of our estate will enable clients to grow and expand while remaining in the same location. At the same time, occupiers will have the opportunity to expand their reach with the creation of additional buildings across other port locations where land is available for development.”

He added: “Given the scale of our portfolio, there are opportunities at nearly all of our ports which can be progressed.”

ABP commercial director Jens Nielsen added: “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.”

ABP, which made pre-tax profits of £144.9m in 2016, is investing £2.2m on the Ipswich port estate to reduce its carbon footprint and has spent £3.3m on new warehousing and a crane at the Port of King’s Lynn.

The formation of ABP Property forms a cornerstone of the group’s commercial strategy and comes amid a company-wide five-year £1bn investment plan.

Its most recently filed accounts said it was “undergoing a programme of system and process transformation” to improve efficiency.

Other news

The tragic death of a woman in a crash on the A12 has sparked further calls for the road’s safety issues to be tackled.

16:24

A woman has died in a serious crash in north Suffolk – the second road fatality in the county during the past week.

18:00

It is the culmination of almost five years of hard work.

17:12

An army veteran who smothered his girlfriend with a duvet after an argument claimed he was ‘wiping away her tears’.

Most Read

16:24

A woman has died in a serious crash in north Suffolk – the second road fatality in the county during the past week.

Read more
Suffolk police
16:22

The 90-year-old man who was found with serious injuries at the Suffolk home where his wife’s lifeless body was discovered, has also died.

Read more
Suffolk police

The owner of the building whose alarm rang for five days in Lowestoft has apologised for the irritation - but blamed his former tenants for the disruption.

Read more
Lowestoft
07:47

A drink driver suffering short-term memory loss drove his Jaguar the wrong way down the A47 after following a satnav, a court has heard.

Read more
Great Yarmouth Magistrates' Court
Yesterday, 19:03

A serious crash closed the A12 in both directions between Wangford and Wrentham last night.

Read more
Suffolk Police

Autumn Supplement

cover

Click here to view
the Autumn
Supplement

View

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 15°C

min temp: 9°C

Show Job Lists

Digital Edition

cover

Enjoy the
Lowestoft Journal
e-edition today

Subscribe

Newsletter Sign Up

Lowestoft Journal weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy