Specialist logistics developer and investor PLP (Peel Logistics Property), has bought a 17 acre development site at Smithy Wood Business Park in Sheffield from St Pauls Developments and the Norfolk Estate where it will speculatively build a 343,000 sq ft warehouse.

The site was sold subject to planning and having received it, the new owner intends to get started on a speculative build as soon as possible. The facility will be one of the largest warehouses in the Yorkshire region. Construction will commence this year with completion in Autumn 2020.

Smithy Wood Business Park, adjacent to Junction 35 of the M1 motorway in Sheffield is a well established commercial location and home to occupiers such as DPD, Cutting and Wear and Arthrex.

Matthew Fitton, development director at PLP, said: “Given the proximity of the site to the M1 motorway and Sheffield, PLP Smithy Wood 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.’’

David Newton, MD of St Pauls Developments, said: “We always believed in Smithy Wood’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.”

The PLP platform is owned by MIRA Real Estate, Peel Group, Ivanhoé Cambridge and its senior management team.

CPP have been appointed as leasing agents for the scheme.