The Peel Group is set to unveil a new logistics division that will have the biggest logistics development land bank in the UK, according to one source. Peel development manager Matt Fitton said the group will pool its industrial sites with those owned by Peel Ports and Harworth Estates in order to form Peel Logistics to capitalise on the improving big sheds market.
Peel Logistics’ land bank will amount to 5,674 acres – with a potential developed value of £4bn. In total it could accommodate 60m sq ft of sheds.
Of the land that will be marketed by Peel Logistics, 50% is owned by Peel Group, with Peel Ports and Harworth each contributing the remaining 25%.
It is understood that Fitton will lead the new division. "The market for design-and-build sheds is coming back," he said.