PLP announces the leasing of PLP Smithywood to Advanced Supply Chain Group
PLP, the UK logistics developer and investment manager, has leased PLP Smithywood to Advanced Supply Chain Group, a third party logistics provider of end-to-end solutions predominantly to the UK retail sector.
Located at Junction 35 of the M1 in Sheffield, PLP Smithywood is a prime 17 acre gateway logistics site accommodating 346,300 sq ft of warehousing / logistics space. PLP Smithywood is one of the largest speculative warehousing developments in the Yorkshire region.
PLP Smithywood is one of the first completed Carbon Net Zero warehousing logistics developments in the UK. It was developed in accordance with the UK Green Building Council’s Net Zero Buildings Framework.
The carbon net zero framework combines carbon net zero construction with carbon net zero ready design to enable Advanced Supply Chain Group to achieve carbon net zero operation by utilising built-in renewable energy features and procuring appropriate renewable energy supplies.
The site was acquired by PLP’s flagship investment vehicle, UK Logistics Venture (UKLV), in October 2019. UKLV’s major investors include Ivanhoé Cambridge, Peel L&P and MIRA Real Estate.
Matt Fitton, Development Director at PLP said: ‘In welcoming Advanced Supply Chain Group to PLP Smithywood it is particularly pleasing that a fast growing end-to-end logistics provider has recognised both the locational qualities of PLP Smithywood and PLP’s commitment to carbon net zero warehousing facilities, we wish them well in the new facility.’
Richard Saul, Head of UK Asset Management, Ivanhoé Cambridge added: ‘This is an exemplar project for us following our and our partners drive towards net zero carbon for our logistics portfolio. We are delighted with the leasing success achieved at PLP Smithywood and our other sites in and around South Yorkshire. It is testament to the quality of the product and the spec build strategy we have adopted alongside our partners.’
Commercial Property Partners advised on the transaction.