The logistics developer and investor has let the whole first phase of its PLP Crewe logistics development to communications distributor Brightstar, comprising two units of 43,000 sq ft and 92,000 sq ft.
PLP Crewe is a 30-acre gateway logistics site linked to junction 16 of the M6. It was acquired in 2019 by PLP’s flagship investment vehicle UK Logistics Venture, whose majority investors are Ivanhoé Cambridge, Peel Group and MIRA Real Estate.
The developer said that the letting upon practical completion is likely to accelerate development of the schemes second phase, a fully-serviced 20-acre plot offered for design and build development of up to 500,000 sq ft in single or multiple units. The site has outline consent.
Keith Wilson, development director at PLP, said: “Letting both phase one units so quickly really demonstrates PLP’s capability to invest in key strategic locations and deliver high-quality urban logistics units for leading industry occupiers.
“In keeping with PLP’s sustainability commitment, both units were delivered to Carbon Net Zero Ready status which is already proving to be a significant point of difference for occupiers.”
Knight Frank advised on the deal. Terms of the transaction were not disclosed.