PLP has submitted a reserved matters planning application for around 900,000 sq ft of urban logistics space at PLP Gateway 45, Leeds, with a completed project value of more than £150 million.
Subject to planning approval, PLP intends to deliver four distribution units on the 43 acre site with sizes ranging from 60,000 sq ft to 400,000 sq ft on a speculative and pre-let basis.
Speculative construction is expected to begin in the first quarter of 2020.
A spokesman said: “The company believes that PLP Gateway 45 is a key strategic site.
“It will be the only consented urban logistics development that is able to satisfy large scale occupiers of more than 300,000 sq ft within the Leeds City Region.
“It provides immediate and unrivalled access to both the M1 motorway via Junction 45 and the wider national motorway network.
“There is a strong labour pool with 2.5 million people living within the West Yorkshire metropolitan area.
“There is also a rapidly improving local infrastructure and housing supply.
“The site also benefits from Central Government Enterprise Zone status, offering further incentives to occupiers.”
The developers have also highlighted the site’s proximity to Leeds city centre via the recently upgraded A63 Pontefract Lane and the wider Leeds and West Yorkshire conurbations.
Hugh Chesterton, development director at PLP said: “PLP Gateway 45 is a prime example of the company’s ambitions to create nationally significant edge of conurbation logistics parks with immediate access to improving infrastructure.
“PLP looks forward to working with the Leeds planning department to deliver the last stage in a significant civic and urban effort to enhance and improve the urban economic fabric of one of the UK’s most vibrant local economies”.
Established in 2015, PLP is a specialist UK logistics and industrial property business. It develops, manages and owns prime-grade UK logistics real estate with in-house management expertise including acquisitions and sourcing, development, leasing and asset management.
The PLP platform is owned by MIRA Real Estate, Peel Group, Ivanhoé Cambridge and its senior management team.
In April, a deal was struck between Aire Valley Land LLP and PLP for the Gateway 45 scheme. Aire Valley, the joint venture between Harworth Group plc and Evans Property Group, made the sale in what has been described as one of the largest commercial transactions in the UK in 2019.