Peel Land and Property Group has joined forces with Macquarie Capital to launch a new UK logistics management platform targeting a size of up to £1 bn (€1.4 bn).
Peel Land and Property Group has joined forces with Macquarie Capital to launch a new UK logistics management platform targeting a size of up to £1 bn (€1.4 bn).
The joint venture, which will operate under the Peel Logistics brand, will be seeded with capital from both partners and will target the development of logistics facilities for long-term ownership.
In due course, Peel Logistics will seek institutional capital investment to support future growth with the ambition of reaching £1 bn of managed assets.
The Platform will also enjoy privileged access to Peel Group's land bank, which includes sites suitable for immediate occupation. It will initially focus on the existing 250 acres (100 hectares) of consented developable land.
The partnership’s first property will be the recently announced 26,000 m2 Port Salford development occupied by Culina Logistics next to the Manchester Ship Canal.
Peel Logistics has also submitted plans for a 16,000 m2 speculative development at Liverpool International Business Park.
'This exciting new partnership combines the complementary skills and expertise of Peel and Macquarie. Our shared vision is that Peel Logistics will evolve into a full service enterprise undertaking the development, ownership and management of logistics assets alongside institutional capital partners,' said James Whittaker, Development director for Peel Land and Property Group.
