Harris Lamb has overseen the sale of a significant Warwickshire land parcel to PLP to deliver a 440,000 sq ft logistics scheme.
Acting for Midlands Land Portfolio (MLPL), the property development and Land disposal arm of Severn Trent, the business undertook a structured marketing campaign for the 29.42-acre site at Longbridge Warwick.
The development site, adjacent to Junction 15 of the M40 motorway and located opposite Tournament Fields Business Park, has direct access to the M40 and A46, providing connectivity to Warwick, Leamington Spa and Stratford-upon-Avon as well as Coventry, Birmingham and the wider West Midlands.
Charles D’Auncey, Head of Harris Lamb’s Commercial Agency department, said: “Further to a strategic marketing campaign, interested parties engaged in a rigorous two-stage bidding process and interviews, with logistics developer and investment manager PLP eventually being selected as the preferred purchaser.
“The business will now deliver PLP Warwick, a scheme comprising of units ranging from 40,000 sq ft to 170,000 sq ft at the site. Construction is due to commence in Q4 2026, with practical completion targeted for Q4 2027.
“We are delighted to have successfully completed this sale, which illustrates the sustained confidence in the Midlands as a preferred location for UK industrial and logistics sites,” he added.
Hugh Chesterton, head of development at PLP, said: “PLP Warwick will deliver five best-in-class industrial and logistics buildings into one of the UK’s most sought-after industrial and logistics markets. The scheme will be highly attractive to a range of national and regional tenants, given its unique adjacency to both junction 15 of the M40 and nearby Warwick.
“The scheme will create many new employment opportunities and represents a substantial investment into the local economy and community.’’
Adam Tustain, senior development manager at Severn Trent, said: “We are delighted to have concluded the sale of this prime logistics site to PLP and now look forward to seeing them bring our planning permission to life. We are proud to be able to use our surplus land to deliver high-quality developments that will bring much-needed employment land and job opportunities to the local area that we serve.”
Lambert Smith Hampton acted for PLP.