A major piece of land on the edge of Warwick has been sold for an undisclosed fee.

Business and logistics property firm PLP has acquired the site, which is next to Junction 15 of the M40, opposite Tournament Fields Business Park.

The 29 acres of "prime" land has been sold in two parcels and is set to become a business park.

The first was from Midlands Land Portfolio, the property development arm of Severn Trent, and the second from a private landowner.

Neil Dickinson, chief investment officer at PLP, said: "PLP Warwick is a prime example of PLP's investment thesis: prime, immediately deliverable and perfectly tailored product to an undersupplied market.

"The scheme will create many new employment opportunities and represents a substantial investment into the local economy and community.

"We look forward to delivering the completed scheme in the fourth quarter of 2027."

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.

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"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."

PLP was advised by property agents Lambert Smith Hampton, Harris Lamb acted for Midlands Land Portfolio, and Bromwich Hardy acted for the private landowner.

James Williams, of Moore and Tibbits Solicitors in Warwick, provided legal advice to the private landowner.

Tom Bromwich said: "PLP Warwick will deliver a prime industrial and distribution business park development of circa 440,000 sq ft in units of between 40,000 sq ft and 170,000 sq ft.

"Construction is targeted to commence in the fourth quarter of 2026 with practical completion 12 months later."