Amazon Knowsley DC completes
PLP, the specialist UK logistics developer and investment manager, has completed development of two fulfilment centres totalling nearly 3 million square feet that has been pre-let to Amazon.
THE FIRST scheme is an 850,000 sq ft distribution warehouse on a 37-acre site in Knowsley Business Park, in the Liverpool City Region. PLP acquired the site in 2018 and the completion and leasing of the development to Amazon is the successful culmination of a 4-year project.
The second, a multi-level building totalling 2 million square feet is located at PLP Gateway 45 in Leeds, immediately adjacent to Junction 45 of the M1.
Both warehouses are owned by PLP’s first in a series of develop-to-hold logistics funds, UKLV1, whose majority investor is Ivanhoé Cambridge alongside Peel L&P, Macquarie Asset Management and PLP senior management. UKLV1 is fully allocated with 8,757,806 sq ft of completed and under development prime logistics assets.
Earlier this year, PLP announced the formation of its second UK develop-to-hold logistics venture (“UKLV2”), which has over £750 million of investment capacity, in which Ivanhoé Cambridge is the majority investor. When fully deployed, the two ventures will result in PLP having over £2.5 billion of assets under management.
