Panattoni submits plans for 715,000 sq ft speculative logistics development in Rotherham

panattoelement on January 10, 2022

Panattoni submits plans for 715,000 sq ft speculative logistics development in Rotherham

Panattoni, the largest industrial real estate developer in Europe, has submitted plans for a mega speculative development in the UK.

Panattoni has submitted a reserved matters planning application to Rotherham Metropolitan Borough Council for a 715,000 sq ft speculative development, Panattoni Park Rotherham, consisting of the 630,000 sq ft facility and a smaller 85,000 sq ft facility by junction 1 of the M18 at Rotherham.

The 40-acre Panattoni Park Rotherham is located in an established distribution location, immediately adjacent to junction 1 of the M18 and just two miles from junction 32 of the M1. Local occupiers include Great Bear, Clipper Logistics, DX and FedEx.

Letting agents are M1 Agency, Legat Owen and Knight Frank.

Dan Burn, Development Director for the North West and Yorkshire at Panattoni, said: “We look forward to working with all stakeholders through the planning application process with the aim of bringing forward this nationally significant development”.

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Panattoni, the largest industrial real estate developer in Europe, has submitted plans for a mega speculative development in the UK. Panattoni has submitted a reserved matters planning application to Rotherham Metropolitan Borough Council for a 715,000 sq ft speculative development, Panattoni Park Rotherham, consisting of the 630,000 sq ft facility and a smaller 85,000 sq ft facility by junction 1 of the M18 at Rotherham. The 40-acre Panattoni Park Rotherham is located in an established distribution location, immediately adjacent to junction 1 of the M18 and just two miles from junction 32 of the M1. Local occupiers include Great Bear, Clipper Logistics, DX and FedEx. Letting agents are M1 Agency, Legat Owen and Knight Frank. Dan Burn, Development Director for the North West and Yorkshire at Panattoni, said: “We look forward to working with all stakeholders through the planning application process with the aim of bringing forward this nationally significant development”.

Panattoni lets 250,000 sq ft of speculative logistics space in Northampton to 4PX Express

panattoelement on December 7, 2021

Panattoni lets 250,000 sq ft of speculative logistics space in Northampton to 4PX Express

Panattoni, the largest logistics real estate developer in Europe, has signed a lease agreement with 4PX Express, the global logistics company, for a 250,000 sq ft facility at Panattoni Park Northampton.

4PX Express has signed a 15-year lease for the facility, which was built speculatively, at the 1.7 million sq ft industrial park.

The letting follows the success of the first phase of 625,000 sq ft, which was let to Eddie Stobart Logistics. Panattoni has another 430,000 sq ft unit available to let and is expected to complete the final unit of 380,000 sq ft in February 2022, which could operate as 810,000 sq ft of space for a single occupier.

All buildings are built to a BREEAM rating of ‘Excellent’ and have an EPC ‘A’ rating.

Northampton sits in the ‘logistics golden triangle’, long regarded as the UK’s most strategically important location for distribution. Located at junction 16 of the M1, Panattoni Park Northampton is only 20 miles from the M6 and A14.

Oliver Bertram, Development Director for Panattoni, said: “Speculatively developing 1 million sq ft in one phase is testament to the importance of Northampton as a logistics location and the high level of occupier demand for the park. We are pleased to welcome 4PX to Panattoni Park Northampton and become our first tenant of phase 2”.

 

Letting agents for Panattoni are Savills and Burbage Realty. 4PX Express was advised by Altus Group.AC

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Panattoni secures first pre-let at 1.9 million sq ft Aylesford development to DHL

panattoelement on November 29, 2021

Panattoni secures first pre-let at 1.9 million sq ft Aylesford development to DHL

Panattoni, the largest industrial real estate developer in Europe, has signed the first pre-lease agreement at its 1.9 million Panattoni Park Aylesford development in Kent, with DHL, the global logistics company.

DHL has signed a 15-year lease for a 110,406 sq ft facility. With 12 dock doors, six-level access and a 50m yard, it will be a last-mile facility for DHL serving Greater London. Panattoni is already on site, carrying out pre-development work, and expects to complete the facility in July 2022.

In August, Panattoni completed the highly complex acquisition out of administration of the 90-acre former Aylesford Newsprint site in Kent. This has enabled Panattoni to take forward the development of 1.9 million sq ft of high-quality logistics space close to junction 4 of the M20 to serve London and the south east.

Panattoni Park Aylesford is a £180m investment in high-quality, sustainable logistics development, infrastructure, parking, landscaping and access, including the new £7 million Bellingham Way link road.

Anthony Watkins, Development Director at Panattoni, said: “Aylesford will be one of our largest logistics sites serving London and the Channel ports. When we acquired the site, we knew it would be enormously attractive to the logistics industry. The response from leading players has been fantastic, and the pre-let to DHL reflects that”.

 

The agents for the site are CBRE, Avison Young and JLL.

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Panattoni delivers £100m Ocado deal

panattoelement on November 8, 2021

Panattoni delivers £100m Ocado deal

Panattoni has completed the sale of Ocado’s new logistics facility in Luton for around £100m.

The net initial yield is circa 3.00%, an indicator of where pricing is for prime assets in quality locations outside of London.

The 346,132 sq ft facility was speculatively developed by Panattoni and let to Ocado Retail, the joint venture between Marks & Spencer Group and Ocado Group, on a 20-year lease in September this year.

James Watson, Development Director at Panattoni, said, “It was a pleasure working with Ocado to deliver this new logistics facility. The price achieved for the investment sale reflects the prime location and quality of the building.”

The transaction completes Panattoni’s exit from the wider park at Luton, which is adjacent to the newly built junction 11a of the M1. The first unit of 69,000 sq ft was let to Deta Electrical on a 15-year lease and sold to CBRE Global Investors for £16m.

Panattoni was advised by Savills. The buyer was represented by Acre Real Estate

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Panattoni leases 305,360 sq ft facility in Crewe to AO

panattoelement on November 3, 2021

Panattoni leases 305,360 sq ft facility in Crewe to AO

Panattoni, the largest industrial real estate developer in Europe, has signed a lease agreement with AO, the online electricals retailer, for a 305,360 sq ft logistics facility in Crewe.

AO has signed a 10-year lease for the facility, Crewe 305, which is the largest speculatively developed warehouse in the North West region to be completed this year. The facility is the second to be developed by Panattoni at Crewe Commercial Park, which is adjacent to the A500 dual carriageway and close to junction 16 of the M6.

The first unit of 240,000 sq ft was let to NWF Group last year on a 12-year lease.

Crewe 305 has been built to a BREEAM rating of ‘Very Good’ and an EPC rating of ‘A’ with many sustainability features, such as low energy office lighting and 15% roof lights. It also has a 15m clear internal height, 27 dock doors, five level access doors, a 50m yard with parking for 49 HGVs and up to 1.5 MVa of power.

The site will be AO’s fourth distribution warehouse in Crewe and sixth in total. The facility will be used to distribute to AO’s network of local hub depots across the country to ensure it has the capacity to manage increasing customer demand.

Dan Burn, Development Director at Panattoni said: “Panattoni have worked hard with AO and their team to provide them with immediate access to our new Crewe 305 facility upon practical completion of the building.  It is great to have been able to provide the space for such a huge local occupier to expand their capacity while being able to stay local to their current operation.  We are delighted to be a part of their continued expansion.  Letting the building on practical completion further endorses our speculative development programme”.

Letting agents were Legat Owen, Burbage Realty and CBRE. Savills acted for AO.

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Panattoni commence construction on three speculative units at V Park, Basingstoke

panattoelement on October 12, 2021

Panattoni commence construction on three speculative units at V Park, Basingstoke

Panattoni, the largest industrial real estate developer in Europe, and Legal & General’s Industrial Property Investment Fund (IPIF) have begun speculatively developing three targeted net zero carbon logistics facilities, totalling 213,350 sq ft, at V Park, Basingstoke.

V Park is located at Viables Industrial Park between junctions 6 and 7 of the M3, well positioned to take advantage of regional axis routes including the M25, A34, M27 and M4, serving the London, Southampton and south east markets. It is part of Panattoni’s commitment to a significant speculative development programme in the UK in response to strong demand from occupiers for immediately available space.

V Park is expected to be completed in Q3 2022. Buckingham Group Contracting has been appointed main contractor on site and demolition has already commenced.

The three facilities of 39,500 sq ft, 77,550 sq ft and 96,300 sq ft will benefit from a market-leading specification, harnessing net zero carbon technology to reduce energy consumption and operating costs. They will be built to a BREEAM rating of ‘Very Good’ and an EPC rating of ‘A’ with many sustainable features. They will also benefit from 50m, self-contained yards, electric vehicle charging points, 12.5m clear internal height,15% roof lights and up to 2.5MVa of power is available.

Alex Mitchell, Development Associate at Panattoni, said: “V Park is a superb opportunity for all occupiers looking to service the London, Southampton and south east markets. It will be a net zero carbon development, which not only reflects our commitment to sustainable development but also provides superior energy performance for occupiers”.

The agents for the scheme are CBRE and Cushman & Wakefield. For more information, please click here

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Panattoni leases 346,000 sq ft speculative warehouse in Luton to Ocado Retail Limited

panattoelement on September 16, 2021

Panattoni leases 346,000 sq ft speculative warehouse in Luton to Ocado Retail Limited

Panattoni, the largest logistics real estate developer in Europe, has signed a lease with Ocado Retail Limited, the online grocer, for a 346,132 sq ft speculatively developed logistics facility in Luton.

Ocado Retail Limited, a joint venture between Marks & Spencer Group and Ocado Group, has signed a 20-year lease at Panattoni Luton 346.

James Watson, Development Director for Panattoni said: “We are delighted to welcome Ocado Retail Limited as a customer to Panattoni Park Luton. Their acquisition of Luton will support their wider plans and assist Ocado in satisfying their customer’s growing demand for online groceries.

The completion of this lease on a building of this scale also demonstrates the demand for high quality available warehouse accommodation in the UK, reinforcing the importance of our speculative development programme. ”

Michael Finnegan, Senior Real Estate Development Manager for Ocado said: ‘The leasing of this Customer Fulfilment Centre (CFC) marks the latest step in delivering Ocado Retail Limited’s ambitious national expansion plans.”

The letting to Ocado completes the leasing of the wider Park at Luton, which is located immediately adjacent to the newly built junction, 11a of the M1.  It is an ideal location from which to serve Greater London, the Midlands and wider south east.

The first unit at the Park of 69,000 sq ft was let to Deta Electrical on a 15-year lease.

Letting agents for Panattoni were Savills, M1 Agency and Adroit Real Estate. Gerald Eve advised Ocado.

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Panattoni enters the French market

panattoelement on September 7, 2021

Panattoni enters the French market

Panattoni, the largest industrial real estate developer in Europe, is continuing its expansion across the European market with the opening of an office at Paris. Salvi Cals has been appointed Managing Director for the French market.

Panattoni expands its foothold in Europe. Following its successful ventures in Germany, the United Kingdom, Netherlands, Poland, Spain, Hungary, the Czech Republic and Slovakia, Panattoni has decided to expand into another market. Its latest destination is France – a dynamic and strategic market for investors and one where the end-customer demand is high. In the first half of 2021, take-up in French logistics real estate reached 18 million sq ft*. “France represents an essential market for our customers. Located in the heart of Western Europe, it is the gateway to many of the European countries in which we are already present as well as markets that we wish to expand into. The services offered by its port, airport and road infrastructure are a key differentiator for the country,” explains Robert Dobrzycki, the Chief Executive Officer of Panattoni Europe.

“Our customers operate in many European markets. In each of these, we want to offer them the best possible conditions to work in, by supplying them with first-class logistics platforms and production space,” insists Robert Dobrzycki. The strength and potential of the French market are the main reasons for this expansion: “As in other European countries, the global pandemic has had little or no impact on warehouse demand. 3PL and retailer resilience, new consumer trends, in particular the rapid growth of e-commerce, have given us the positive signals we need to start building an experienced team of professionals in France right now,” he adds.

The French arm of Panattoni will be led by Salvi Cals, who has been appointed Managing Director.

“Panattoni provides me with the opportunity to offer our customers and partners a wide range of services. The strength of Panattoni’s global platform enables the French team to move quickly and develop a diversity of assets, of all sizes and in all French regions where the supply can be limited,” explains Salvi Cals, Panattoni’s Managing Director for France.

Salvi Cals has the advantage of 15 years’ experience in commercial real estate in France, including more than 10 years at Prologis, where he oversaw its investment services team in Southern Europe from 2010 to 2014. Salvi then joined the capital deployment team in charge of the Paris and Le Havre markets until 2020, when he was promoted to Head of Capital Deployment for France. During his tenure, Salvi managed 3,552,090 sq ft of developments, including speculative and built-to-suit projects, acquired 645,834 sq ft of urban logistics assets in Paris, and secured 11 million sq ft of new development sites.

*Source: CBRE – France Logistics MarketView Q2 2021

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Panattoni leases speculatively developed 280,700 sq ft logistics unit in Bolton to UPS

panattoelement on September 2, 2021

Panattoni leases speculatively developed 280,700 sq ft logistics unit in Bolton to UPS

Panattoni, the largest industrial real estate developer in Europe, has signed a lease agreement with UPS, one of the world’s largest package delivery companies, for a 280,700 sq ft speculatively developed facility at Bolton.

UPS has signed a 10-year lease for the largest of the two facilities at the 360,700 sq ft Panattoni Park Bolton, which has a BREEAM sustainability rating of ‘Very Good’ and an EPC rating of ‘A’. The facility, which has a 15m clear internal height, 24 dock doors and five-level access doors, was completed in September. It is expected that more than 280 jobs will be created.

The first unit of 80,000 sq ft was pre-let in January to Hermes Parcelnet, one of the UK’s largest parcel delivery companies.

Panattoni Park Bolton is close to junction 6 of the M61, providing easy access to the key ports of Liverpool to the west and Hull to the east; the M6 is less than 15 minutes drive, providing access to Scotland, the wider north west and the Midlands.

Dan Burn, Development Director for the North West and Yorkshire at Panattoni, said: “Panattoni Park Bolton is the only development of its size and scale to have been built in Greater Manchester this year. The fact that we have let the two units to two global delivery companies reflects their confidence in this region.

“The town has the second highest employee base in Greater Manchester, yet with wages below the regional average labour costs remain attractive, as does the good mix of skills among the workforce. Employment in the logistics sector is considerably higher than both the regional and national average”.

DTRE, Savills and Knight Frank were the letting agents and TSL Projects was the contractor.

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Panattoni increases speculative programme with over 200,000 sq ft scheme in Crawley, UK

panattoelement on August 12, 2021

Panattoni increases speculative programme with over 200,000 sq ft scheme in Crawley, UK

Panattoni, the largest industrial real estate developer in Europe, is working up plans for a 202,200 sq ft speculative, last-mile logistics development in Crawley.

The development, called Panattoni Park Crawley, is located in the established industrial area of Manor Royal Business District on a 10-acre brownfield site on Fleming Way, which Panattoni has just acquired from Aberdeen Standard Investments.

Panattoni is aiming to submit an outline planning application in the fourth quarter of this year, with a view to beginning demolition and construction in the first half of 2022 and completing in the first quarter of 2023. Panattoni will aim to pre-let the space, which could either be one unit of 202,200 sq ft or two units.

The development is part of Panattoni’s commitment to a significant speculative development programme in the UK in 2021 in response to strong demand from occupiers for immediately available space. In the south, Panattoni has acquired or progressed nearly 10 million sq ft of developments since the onset of Covid in March 2020.

Panattoni Park Crawley is located in an established distribution location adjacent to London Gatwick Airport. It covers an area of 540 acres and is home to more than 600 businesses generating 30,000 jobs.

Tony Watkins, Development Director at Panattoni, said: “This is a rare opportunity to acquire such a well-located site, as land in the south east for building a logistics facility of this scale is very scarce. This is a great site for accessing London”.

Letting agents are JLL and Savills.

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