Landowning giant hails strong 12 months
PEEL Logistics has used the platform of the world property event MIPIM in Cannes to report on what says is a strong 12 months which have included the launch of Liverpool’s largest speculative development, L175.
Among its achievements is also the near-completion of a 280,000sq ft new warehouse facility for Culina Logistics at Port Salford, the UK’s first tri-modal distribution park.
Peel Logistics development director Matt Fitton said: “Peel Logistics is now a joint venture between Peel Land and Property and Macquarie Capital, currently approaching 500,000sq ft of warehousing space under construction with much more to come.
“We are investing heavily in our assets to create ‘oven ready’ land opportunities as we acknowledge that the occupational market is ever more demanding in terms of delivery timescales and we are reacting to that.
“We are currently in discussions with other logistics operators about new warehousing facilities across the Peel Logistics portfolio and we remain confident about the next 12 months.
“In June 2015, Peel Land & Property announced its JV with Macquarie Capital, the corporate advisory, capital markets and principal investing arm of the Macquarie Group.”
“We are also shortly to complete the 280,000 sq ft pre-let to Culina Logistics in April.”
Port Salford will become the UK’s first tri-modal inland port facility and Distribution Park accessible by road, rail and short-sea shipping, and is situated next to the Manchester Ship Canal, M60 and M62 motorways.
“Culina Logistics will utilise the Manchester Ship Canal to move containers from Liverpool2,” continued Fitton. “With the potential to offer close to five million sq ft of logistics warehousing space, Port Salford is a key development site in the Peel Logistics portfolio and offers the northwest the opportunity to create a tri-modal distribution park of national relevance.
“The Culina Logistics story is real proof of concept in the belief that Liverpool2 and moving containers along the Manchester Ship Canal will be transformational in how the supply chain will function in the future.”
L175 is the largest speculative development for a decade in Liverpool and is scheduled for completion in August 2016. Located at Liverpool International Business Park, close to Liverpool2, adjacent to John Lennon Airport and five minutes from Jaguar Land Rover, the 175,000 sq ft logistics warehouse is perfectly located to serve both the JLR supply chain and the wider logistics market.
Fitton also updated attendees on Knowsley 800, Peel Logistics’ site at Knowsley Business Park. Knowsley 800 has the ability to accommodate up to 800,000 sq ft with power up to 8MVA. The site is located next to Knowsley Rail Freight Terminal, 15 minutes to the M6 and just 10 miles to Liverpool2.
Fitton added: “Speculating, Developing, Preparing: these are the three planks on which we are building the Peel Logistics platform. With Port Salford, L175 and Knowsley 800 in our portfolio we are well-positioned to help occupiers meet both their current and future logistics warehousing needs.”
