Gazeley and LGP enter 2010 with major deal

Dubai, February 15, 2010 - Economic Zones World's fully owned subsidiary, Gazeley, global provider of sustainable logistics space, has kick-started 2010 with a deal to develop a state-of-the-art warehouse at G. Park Crick, one of the most sought-after distribution parks in the Midlands, which will be forward funded by investment manager Legal & General Property (LGP) on behalf of its Managed Pension Fund. 

The warehouse will provide the Headquarters for Butcher's Pet Care's UK operations, as well as a manufacturing and distribution facility for the Company which currently occupies a building on another part of the site. The deal will see Butcher's Pet Care Ltd, the leading UK family owned dog food business, take on a 20-year lease.

The 260,000 sq ft warehouse will be situated on strategically located G. Park Crick, a 95 acre site close to the M1 in the heart of the logistics 'Golden Triangle' which can access the majority of the country within a 4.5 hour drive time.

Bruce Topley, Development Director at Gazeley, comments, "It is fantastic to be starting 2010 on a high note with a major deal delivering a bespoke manufacturing and distribution facility in the UK. We are really pleased the Gazeley Team can offer Butcher's the bespoke solution they require. Gazeley's trusted record in delivering to customers the very best in, sustainable logistics warehousing within tight time frames, is key to our ongoing business success.  This transaction delivers the infrastructure to release the balance of the site where we can deliver up to 1.1M sq ft in a single unit for our customers".  

Charlie Walker, Senior Fund Manager at LGP commented "We are delighted to be funding this opportunity with Gazeley, following the recent successful funding of the John Lewis distribution facility in Enfield at the end of 2009.  The opportunity reflects the Managed Fund's continuing strategy to secure investments with exceptional location, specification and income profile. Development fundings are once again offering value to investors in a stock starved market - providing the edge on yield which had all but disappeared in the bull market. Institutions can provide a natural partner in a reluctant banking environment."

Work on the £38m project will begin on the site in April 2010 and it will be operational in 2011.  

Graham Baker, Founder of Butcher's Petcare Ltd added "We have a small but successful continental European business and believe our investment in UK manufacturing over the coming years will support a growing export business. We will produce around five million cans a week in our new facility to meet this growing demand. Butcher's has always wanted to keep our business in the Midlands where local people have helped us to grow the company to what it is today."

As is standard for Gazeley projects, the warehouse at G. Park Crick will be developed with sustainability at the heart of its design. It will incorporate a number of environmental measures, such as rainwater harvesting and recycling, energy efficient lighting, solar panels, low water use appliances and the use of FSC approved timber.

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About Gazeley
Gazeley is a global provider of sustainable logistics space. To date it has built over 60 million sq ft (5.6 million sq m) of quality warehouses and distribution parks across the globe. 

The company is part of Economics Zones World (EZW), a Dubai World company; Gazeley is integrated into EZW's vision of being the leading global provider of sustainable industrial and logistics infrastructure. Gazeley has a global reach, giving them the opportunity to serve customers both locally and globally.

The company provides state of the art buildings to accommodate some of the world's largest companies and third party logistics operators. Customers come from across the retail, manufacturing and pharmaceutical sectors including Asda/Wal*Mart, BT, John Lewis, Procter & Gamble, Toyota, Volkswagen, Morrisons and DHL, Geodis, Norbert Dentressangle.

Gazeley has consistently built efficient, sustainable warehouse space reducing considerably its customers operating costs and improving the performance of their facilities. The recent development for Wm Morrisons Supermarket PLC at Sittingbourne will deliver carbon savings of 585,830kg per year through a range of eco-friendly technologies including solar heating, a grey water system, vertical wind turbines and efficient lighting control systems.

In 2009 Gazeley has won a multitude of Sustainability Awards including the 'Best Sustainable Development' at the LEAF Awards, Industrial Agents Society Awards, UK Commercial Property Awards and HANSE Global.

For further information please visit www.gazeley.com

About Butcher's Pet Care
Butcher's is the second largest player in the UK dog food market.

It is a family owned British business from the heart of the farming and meat industries in the Rugby area. Since 1987 the company, famous for its strapline, 'Fit as a Butcher's Dog' has built a turnover of £65m and a staff of 200 people by feeding generations of British pets.

Butcher's products are stocked by all major multiples including Sainsbury's, Tesco, Asda and Morrisons as well as suppliers in the independent marketplace.

For more information, please contact:
Adeti Changulani
World View Communications
Dubai  World
Mob: +971 50 429 5576
Email: adeti.changulani@wvc.ae

© Press Release 2010