UK logistics specialist Peel Logistics Property has joined forces with Ivanhoé Cambridge to launch a new UK-focused logistics investment platform.

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Peel Logistics, Ivanhoé Cambridge launch UK logistics JV

Peel Logistics Property UK Logistics Venture (UKLV) will be 80%-owned by Ivanhoé Cambridge, with a 20% co-investment from Peel Logistics Property.

Peel Logistics, which was founded in 2015 by Macquarie Capital and Peel Group, said that the new platform will have 'significant investment capacity' for UK logistics property assets and will focus on institutional quality developments in key logistics hubs across the UK, the business partners said.

The platform will be seeded with an initial portfolio comprising three properties recently developed by Peel Logistics Property in Manchester and Liverpool and a prime development site in Sheffield with capacity for over 800,000 sq ft of lettable space.

UKLV is Peel Logistics Property’s first investment venture, according to Jeremy Greenland, Peel Logistics Property's CEO. 'With significant investment capacity and the ability to pursue development, value-add and core investments, UKLV will be well placed to capture the opportunities and strong long-term dynamics we see in the UK logistics property sector.'

Arnaud Malbos, senior vice president of Investments at Ivanhoé Cambridge Europe, added: 'This new partnership with Peel Logistics Property in the UK confirms Ivanhoé Cambridge’s commitment to increasing its investments in logistics property globally. We are pleased to be working with the Peel Logistics Property team and have great ambitions for the venture.'

Macquarie Capital (Europe) advised Peel Logistics Property on the establishment of UKLV.