PLP is pleased to announce that construction has started on L175
PLP is pleased to announce that Eric Wright Construction has started on L175, its 175,000 sq ft speculative industrial and logistics facility at Liverpool International Business Park.
Scheduled for completion in August 2016, L175 will be the largest speculative warehouse building in Liverpool for almost a decade. The project is the first speculative logistics development to be brought to market by PLP following the announcement of its joint venture with Macquarie Capital in June 2015.
L175 was launched to the region’s industrial agents at a breakfast event in central Manchester, where Matthew Fitton, Development Director of PLP, commented:
“The commitment by PLP to the 175,000 sq ft speculative development at Liverpool International Business Park is further evidence that the joint venture between Peel Land and Property and Macquarie Capital is quickly developing a track record in the delivery of Grade A logistics warehousing facilities.
“This track record is further evidenced by the excellent progress being made at Port Salford, where the construction of the 280,000 sq ft facility pre let to Culina Logistics is well advanced, with completion scheduled for March 2016.”
Liverpool International Business Park is located five minutes from Jaguar Land Rover’s Halewood plant, adjacent to John Lennon Airport and 12 miles from Liverpool2, Peel Ports’ new £300m deepwater container terminal at the Port of Liverpool. Existing tenants at Liverpool International Business Park include B&M Retail and Prinovis, both of whom were attracted by the site’s exceptional connectivity.
Fitton said:
“L175 will be attractive to a number of occupational sectors, for example its proximity to the Jaguar Landrover plant at Halewood makes it an ideal location for the automotive sector serving the JLR supply chain, particularly given the 30 minute just in time principle for the delivery of parts to the Halewood plant. In addition we are witnessing high levels of take up in the region from the ecommerce sectors whilst the move to on-shoring by the UK’s resurgent manufacturing sectors will make L175 appealing to occupiers.
“Finally, the impact of Liverpool 2, Peel Ports’ £300 m investment in a new deep sea container terminal, will have a transformational effect on the logistics market in the North West. Again L175 is well placed to satisfy this predicted occupier demand for new warehousing space.”
Peel announced its joint venture with Macquarie Capital in June 2015 and the Culina Logistics development at Port Salford was the partnership’s first project. Port Salford is situated next to the Manchester Ship Canal, M60 and M62 motorways and will become the UK’s first tri-modal inland port facility and distribution park accessible by road, rail and short-sea shipping.