PLP has acquired Astley Business Park from Peel Waters for an undisclosed price.
The company has secured planning permission to deliver four logistics units offering 360,000 sq ft at the 19-acre site.
PLP will speculatively develop the PLP Astley scheme on behalf of its second flagship UK logistics investment vehicle (UKLV2), which is capitalised by institutional capital partners including Ivanhoé Cambridge, The Peel Group and Greater Manchester Pension Fund.
Matthew Fitton, development director at PLP, said: “The scheme will comprise four units of best-in-class urban logistics accommodation, ranging in size from 35,000 sq ft to 145,000 sq ft. The site benefits from excellent transport connectivity with direct access onto the A580 East Lancs, providing access to the M60 Manchester Orbital just three miles to the east and Junction 23 of the M6 to the west, providing occupiers with the opportunity to serve all major conurbations of the North West.
“We believe the scheme will be highly attractive to a range of occupational tenants given its proximity to central Manchester. The scheme is also expected to create a significant number of jobs when the units are occupied and fully operational, representing a substantial investment into the local community.
“In line with PLP’s long term sustainability policies, PLP are installing roof mounted solar panels, multiple electric charging points for vehicles and the infrastructure to augment this post-construction. We are also making a significant investment into both the ecology of the site and into offsite works through biodiversity net gain, contributing to improving the biodiversity of the local area.”
James Whittaker, managing director of Peel Waters, added: “After over 20 years of working on this site to bring forward investment and jobs we’re really pleased to have completed the land sale to PLP, to deliver 360,000. sq ft of high-quality employment space in Wigan and we’re looking forward to seeing it built out and let over the next few years.”
Ajay Phull, managing director, real estate, at Ivanhoé Cambridge, said: “This acquisition confirms our commitment to European logistics, a major focus of our strategic plan. We are developing cutting-edge logistics facilities near major urban centres and forging strategic partnerships to meet the rising demand for efficient delivery solutions. This investment aligns with our ESG goals, ensuring long-term resilience and value in our portfolio.”
Construction of the units is expected to commence immediately with completion targeted for March 2026. Gerald Eve and B8 Real Estate have been appointed as joint leasing agents for the scheme.
