Prologis buys Waltham Abbey site for £54.1 million
Developer investor Prologis has paid fashion retail giant Next £54.1 million for its Waltham Abbey site in Essex.
By Liza Helps, Property Editor, Logistics Matters
THE SITE off Dowding Way was originally acquired by Next plc in 2021 for around £40 million with the intention of consolidating two of its Regional Distribution Centres. Unfortunately proposals put forward for a 660,000 ft2 plus facility with multi-storey car park and photo studio were refused by Epping Forrest Council and then refused again at appeal in 2022.
Next said its ‘plans for our Distribution Centre network have changed, and we no longer plan to use this land’.
As a result, the land was sold to Prologis in a transaction which completed on 21 November 2025 generating net cash proceeds after costs of £54.1 million and an exceptional profit of £16.3m.
The 29.65 acre site is located just off Junction 26 of the M25 motorway to the south of Waltham Abbey. Its acquisition forms part of Prologis’s ongoing strategy to invest in prime locations where the supply demand fundamentals are strongest. The site provides an opportunity to deliver high-quality, sustainable, advanced manufacturing and logistics units that meets the evolving needs of modern supply chains.
Prologis UK Regional Head Paul Weston, said: “This acquisition underscores our conviction in the Greater London market. Waltham Abbey is already a well-established logistics location, and this site gives us the ability to bring forward sustainable, best-in-class space that supports our customers’ growth while creating employment opportunities and attracting investment for the local community.”
The site is allocated for employment use in Epping Forest Council’s adopted Local Plan. Master planning is underway, with a focus on sustainability, design and community integration.
JLL acted for Prologis while ACRE Capital Real Estate advised Next plc.
