Peel Logistics Property announced last week that they have acquired a land site in a prime location. The new acquisition is a site that measures 48 acres and is located in Sheffield, South Yorkshire. The specialist logistics and industrial property company have acquired this site in order to transform it in to a flagship prime logistics park. The cleared and vacant site has been acquired by Peel Logistics from Outokumpu Group.
It is thought that this new site will be ideal for a logistics site because of its location. The prospective logistics park is situated in prime location directly adjacent to Junction 34 of the M1 motorway. The site for the proposed Park is also in close proximity of Sheffield City Centre and a number of retail offerings based at Meadowhall Shopping Centre. A planning application to develop the site is expected to detail more than 800,000 sq. ft. of space across a number of different standalone facilities. It is thought that the application will be ready to submit in the third quarter of 2017. Subject to the plans being approved it has been predicted that work will start on the site in 2018.
This prime location is a great asset to Peel Logistics Property, who have been established since 2015 and work towards offering a full service platform that can develop, manage and own prime UK logistics and industrial properties. The business aims to have properties that have in-house management expertise that covers all the vital capabilities like acquisitions and sourcing, development, leasing and asset management.
The Sheffield spot is in an ideal location so that there is the scope to offer services to national as well as urban logistics occupiers. The project represents a step towards growth for the logistics services company, who wants to be one of the leading logistics real estate development and investment management companies in the UK.