Amazon is thought to be the main beneficiary of a recent planning approval at developer PLP’s Gateway 45 scheme in Leeds. The internet giant is believed to be the reason behind a reserved matters application proposing a single 2 million sq ft distribution warehouse at the scheme that recently scored
43 acres of commercial development land has just been bought by PLP’s UK logistics investments vehicle from the joint venture between Harworth Group plc and Evans Property Group for an undisclosed sum. The company will now work with AVL to begin earthworks and on and off-site infrastructure, alongside the submission of
BDC 319 : Aug 2024
Amazon is thought to be the main beneficiary of a recent planning approval at developer PLP’s Gateway 45 scheme in Leeds. The internet giant is believed to be the reason behind a reserved matters application proposing a single 2 million sq ft distribution warehouse at the scheme that recently scored approval from Leeds Council. The application was for a 2,001,543 sq ft facility with a footplate of some 464,809 sq ft with three further mezzanines on the 43.66 acre site owned by PLP. In the planning statement submitted as part of the application said: “The proposed development represents a major economic investment and will enable a significant number of jobs to come forward in a key site in the Aire Valley Leeds Enterprise Zone. A key aim of this Zone is to drive growth and investment in Leeds and the wider City Region.” PLP acquired the plot from Aire Valley Land, a joint venture between Harworth Group and Evans Property Group, earlier this year. At the time of the sale the plot had planning for up to 855,000 sq ft of industrial and distribution space. This is the second planning application for the site, previously PLP submitted plans for a scheme for four distribution units with sizes ranging from 59,000 sq ft to 400,000 sq ft to be developed on a speculative and pre-let basis. Joint letting agents are CBRE and Gent Visick. Gateway 45 is located next to Junction 45 of the M1 and extends to 166 acres, with outline planning consent for 2.64 million sq ft of commercial space. The PLP UKLV deal follows three previous separate disposals totalling 55.5 acres, generating a total consideration of £30.3m. Gent Visick advised on the sale of the plot. There has been no comment for the parties involved.
43 acres of commercial development land has just been bought by PLP’s UK logistics investments vehicle from the joint venture between Harworth Group plc and Evans Property Group for an undisclosed sum. The company will now work with AVL to begin earthworks and on and off-site infrastructure, alongside the submission of a ”reserved matters” planning application to Leeds City Council for 850,000sqft of industrial and distribution space across 4 units. “We are very excited about this acquisition, which provides a clear opportunity for PLP to deliver high-quality logistics space in a variety of configurations for occupiers. Beyond this and our other three recent acquisitions, we continue to look for prime logistics developments and assets in key markets,” said Jeremy Greenland, CEO of PLP. Once the planning is approved, construction work will begin on the new units in Summer 2020. In addition to this purchase, PLP has also acquired a few other assets at Sheffield, Crewe and Knowsley, which will take the value of UKLV’s managed assets to £500m (€579.4m) on a completed basis. “This is an excellent outcome for all concerned which will deliver a significant proportion of the jobs promised when the Enterprise Zone was initially created. AVL’s focus now is to assist PLP to get on-site as quickly as possible so that thousands of new jobs can be delivered for the City Region to benefit from,” commented James Pitt, development director at Evans Property Group. Leader of Leeds City Council councillor Judith Blake also commented on the purchase, saying: “This deal is very welcome as it brings significant new investment into Leeds and the Leeds City Region Enterprise Zone, enhancing economic growth, job creation and innovation in the area and the city.” Established in 2015, the PLP platform is owned by Macquarie Capital, Peel Group, Ivanhoe Cambridge and its senior management team.
