Biggest speculative warehouse build in Liverpool for a decade
THE largest speculative warehouse project in Liverpool for a decade has been launched by Peel Logistics.
Eric Wright Construction has started work on L175, a 175,000sq ft industrial and logistics facility at Liverpool International Business Park.
Scheduled for completion in August, L175 has been brought to market by Peel Logistics in the first speculative development logistics 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 Peel Logistics development director Matthew Fitton said: “Our commitment to the development 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 went on: “L175 will be attractive to a number of occupational sectors, for example its proximity to the Jaguar Land Rover 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.
“The impact of Liverpool 2, Peel Ports’ £300m 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.”
After Peel announced its joint venture with Macquarie Capital, 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.
