17-acre site acquired for speculative logistics development
Specialist logistics developer and investor PLP has acquired a 17-acre site at Sheffield’s Smithywood Business Park, and secured planning consent for a 343,000 sq ft logistics unit.
PLP will speculatively develop the property, which will be one of the largest warehouses in the Yorkshire region. Construction will start this year with completion in autumn 2020.
Smithywood Business Park, next to Junction 35 of the M1, is a well-established commercial location and home to occupiers such as DPD, Cutting and Wear and Arthrex.
PLP have bought the site from joint owners St Paul’s Developments and The Norfolk Estate.
David Newton, managing director of St Paul’s Developments, said: “We always believed in Smithywood’s location, being so close to J35 M1, and this encouraged us to invest in the site to create a fully serviced, strategic land holding.
“PLP’s decision to purchase and develop 17 acres is exactly the type of deal we felt we could attract, and I am sure it will be a successful project for them.”
Matthew Fitton, development director at PLP, said: “Given the proximity of the site to the M1 motorway and Sheffield, PLP Smithywood will offer great accessibility and market connectivity. PLP has the confidence here to speculatively build one of the largest warehouses in the region.
“In line with PLP’s long term sustainability policies, we’re installing roof mounted solar panels, multiple electric charging points for vehicles and the infrastructure to augment these post construction. We are also making a significant investment in the local ecology of the site, improving the biodiversity of the surrounding area.’
“PLP Smithywood is likely to appeal to local and national businesses alike. Following our recent leasing success at PLP Bessemer Park in Sheffield, we look forward to delivering further investment in the Sheffield City region and the creation of up to 500 new jobs once the unit is occupied and fully operational.”
CPP have been appointed as leasing agents for the scheme.
