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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Panattoni leases speculatively developed 515,000 sq ft logistics unit to JD Sports

panattoelement on July 22, 2021

Panattoni leases speculatively developed 515,000 sq ft logistics unit to JD Sports

Panattoni, the largest industrial real estate developer in Europe, has signed a lease agreement with JD Sports, the sports fashion retailer, for a 514,193 sq ft speculatively developed facility at Derby.

JD Sports has signed a 20-year lease for the facility, Derby 515, which is one of the largest single-unit speculative developments under construction in the UK.

With a BREEAM sustainability rating of ‘Very Good’ and an EPC rating of ‘A’, Derby 515 will have a 15m clear internal height, 56 dock doors and eight-level access doors, as well as parking for 185 trailers. It is expected to be completed in the fourth quarter of this year.

The building is part of Panattoni’s 900,000 sq ft development at Derby Commercial Park on Raynesway, two miles east of the city. The second unit at the park is Derby 370, which was let at the beginning of this year to Alloga UK on a 15-year lease term.

Derby Commercial Park is 11 miles from East Midlands Airport, the UK’s largest cargo airport, and within easy HGV reach of East Midlands Maritime, DIRFT and Hams Hall rail freight terminals and ports from Liverpool in the north west, Felixstowe on the east coast, London Gateway and Southampton.

Andy Preston, Development Director at Panattoni, said: “This letting reflects the strength of demand from occupiers for immediately available space and the location of the facility, which has excellent transport links and a very large, suitably skilled workforce in one of the UK’s centres for advanced logistics”.

Letting agents are Avison Young, CBRE and Burbage Realty.  CBRE acted for JD Sports.

 

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Panattoni underway with 345,414 sq ft speculative logistics facility in the Midlands

panattoelement on July 9, 2021

Panattoni underway with 345,414 sq ft speculative logistics facility in the Midlands

Panattoni, the largest industrial real estate developer in Europe, today announced its underway speculatively developing a 345,414 sq ft logistics facility at Tamworth.

The new facility, Tamworth 345 is located on the A5 connecting to the heart of the Midlands motorway network, just minutes from junction 10 of the M42. 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.

Construction of Tamworth 345 has now commenced and is expected to be completed in Q1 2022. Buckingham Group Contracting have been appointed main contractor on site.

The facility will benefit from 2MVa of power, 15m clear internal height, 32 dock doors and six-level access doors, a 50m deep yard and built to a BREEAM rating of ‘Very Good’. There will also be parking for 50 HGVs and 221 cars.

Simon Jenkins, Development Director at Panattoni, said: “This is a fantastic opportunity for us, as land in the West Midlands for building a logistics facility of this scale is very scarce. Our appetite for speculative development reflects the strength of demand from occupiers for immediately available space”.

The appointed agents on the scheme are JLL and Burbage Realty. For more information please visit this link.

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Panattoni signs up to RBLI VE day challenge

panattoelement on June 25, 2021

Panattoni signs up to RBLI VE day challenge

Panattoni, the world’s largest privately owned industrial developer, has signed up to the Royal British Legion Industries’ (RBLI) VE Day Highways Challenge.

As part of its £180m investment at Panattoni Park Aylesford in Kent, the company has commissioned RBLI’s social enterprise Britain’s Bravest Manufacturing Company (BBMC) to produce the site hoardings needed during the construction phase, as well as all the road and building signage.

BBMC employs more than 100 people – 70% of whom are veterans and people with disabilities. The team produce wooden products, such as pallets and fruit bins, as well as rail and road signs – including the majority placed around Kent.

RBLI’s Highways Challenge, which was launched in line with May’s anniversary of VE Day, aims to generate an extra £1 million of sales by Remembrance Day 2021, with the profits making it provide more employment opportunities to vulnerable veterans in need of work.

Panattoni’s purchasing decision is part of its commitment to source local products and services wherever possible to support the delivery of its recently approved plans to develop 1.9 million ft2 of logistics and distribution space next to the M20.

Tony Watkins, Development Director at Panattoni, said: “This is one of those occasions when we have been able to source high quality, competitively priced products and at the same time use a local business that’s doing important work supporting our veterans with employment, training and accommodation.”

Following an introduction by Tonbridge & Malling Borough Council, Panattoni shared its signage strategy for the 90-acre site with BBMC’s signage team based at the RBLI Village in Aylesford and agreed a programme of works.

Commenting on the deal with RBLI, Councillor Nicolas Heslop, Leader of Tonbridge & Malling Borough Council, added: “Panattoni is living up to its promise to purchase locally. It’s great to see them partner with Britain’s Bravest Manufacturing Company, and at the same time make progress on creating 3,000 new jobs for the borough on a site that’s been vacant for far too long.”

Steve Sherry CMG OBE, Chief Executive of RBLI, said: “We are delighted to partner with Panattoni and look forward to see how Europe’s largest warehousing and logistics developers transforms the site over the next couple of years providing much needed economic regeneration in the area.

“Every sign and hoarding we produce will help transform the day to day lives of the people  that work at Britain’s Bravest Manufacturing Company and the rest of the veterans we support.”

The commitment from Panattoni sees the property developer join National Rail, road maintenance companies such as Amey, as well as residential and commercial developers and local authorities on BBMC’s customer list.

For further information on Panattoni Park Aylesford, please visit: www.panattoni.co.uk/aylesford

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Panattoni boosts speculative programme with 715,000 sq ft scheme in Yorkshire

panattoelement on June 24, 2021

Panattoni boosts speculative programme with 715,000 sq ft scheme in Yorkshire

Panattoni, the largest industrial real estate developer in Europe, today announced it was working up plans to develop its biggest-ever speculative logistics building in the UK, a 630,000 sq ft facility in Yorkshire.

The 630,000 sq ft facility will be built along with a smaller 85,000 sq ft facility by junction 1 of the M18 at Rotherham on a 40-acre site, which Panattoni has recently acquired from Stretton Denman. Panattoni is aiming to submit a reserved matters planning application in the next few weeks, with a view to beginning construction in the first quarter of 2022.

The 715,000 sq ft development, called Panattoni Park Rotherham, 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. The acquisition of Panattoni Park Rotherham increases the size of Panattoni’s current speculative development programme to around 4.2 million sq ft across eight locations across the North and Midlands, the largest of which are at South Normanton, Derby, Northampton and Crewe.

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 at Panattoni Park Rotherham are M1 Agency, Legat Owen and Knight Frank.

Dan Burn, Development Director for the North West and Yorkshire at Panattoni, said: “Our continued appetite for speculative development reflects the strength of demand from occupiers for immediately available space. In the first quarter of this year half of all take-up in the logistics sector was of speculative developments, driven by demand from e-commerce companies. And in the last 12 months alone, we have let more than 6 million sq ft of space.

“Having let our speculative Wakefield 515 development in May, we are delighted to have acquired this strategic site and look forward to bringing this nationally significant scheme forward over the coming months”.

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Final speculative unit underway at Panattoni Park Northampton, UK

panattoelement on June 8, 2021

Final speculative unit underway at Panattoni Park Northampton, UK

Panattoni, the largest logistics developer in Europe, has revealed it has started construction of the final unit at the 1.7 million sq ft industrial park in Northampton.

Panattoni Park Northampton is already home to three former Panattoni buildings totalling 625,000 sq ft, which were developed speculatively and let to Eddie Stobart Logistics.

In March this year, Winvic Construction began construction with two speculative units being 250,000 sq ft and 430,000 sq ft. These units are available for occupation from August and September 2021 respectively.

Works for the final 380,000 sq ft unit will begin this month, which will be last phase of the project. The unit will comprise of 15m clear internal height, 50m yard depth, 34 dock doors, four level access, 68 HGV trailer spaces and 296 car parking spaces with EV charging.

The three latest buildings on the Park will be built to a BREEAM rating of ‘Excellent’ and have an ‘A’ EPC rating. The section 278 works have completed giving excellent access to the park with immediate access to J16 of the M1.

Once fully occupied, the Park could support over 1000 jobs.

Oliver Bertram, Development Director at Panattoni, said: “Work is forging ahead at Panattoni Park Northampton and we expect the final unit to be available by mid February 2022. We are delighted with progress so far on the site and look forward to completing the final piece of the jigsaw.”

Northampton sits in the so-called ‘logistics golden triangle’, considered to be the UK’s most strategically important location for distribution. Panattoni Park Northampton is only 20 miles from the M6 and A14.

Burbage Realty and Savills are the joint agents on the scheme.

For more details, visit this link.

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Panattoni Recruits Director of Finance and Operations in the UK

panattoelement on May 27, 2021

Panattoni Recruits Director of Finance and Operations in the UK

Panattoni, the largest logistics developer in Europe, is pleased to announce the appointment of Oliver Choppin as its Director of Finance and Operations for the UK, based at its London head office.

Oliver heads up the finance and operations platform for Panattoni in the U.K.  He is responsible for structuring of debt finance, maintaining lending relationships and deploying capital allocations, whilst also managing the operations of the UK development business.

Prior to joining Panattoni, Oliver has extensive experience in property finance, having spent 17 years in an FTSE Retail REIT in various treasury and accounting roles. During his career Oliver has been involved in over £7 billion of financing deals in both public and private debt markets.

Oliver remarked: “I’m delighted to be joining a company with such an accomplished track record.  The appointment is a perfect fit for my experience and I’m excited to be working with such an entrepreneurial team”.

Matthew Byrom, Managing Director of Panattoni, added: “Oliver will bring a wealth of knowledge into the business and will greatly assist the UK team in optimising the financial return of projects and managing our expanding development platform.  We’re very pleased to welcome him onboard”.

Oliver is a member of the Association of Chartered Certified Accountants (ACCA).

In January 2021, Panattoni recruited Head of Capital Markets, Nick Cripps, who is responsible for investor relationships and managing the capitalisation of projects across the UK and Western Europe.

For more details on the Panattoni executive team, visit this link.

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Panattoni to speculatively develop three net zero carbon warehouses at key M3 corridor location

panattoelement on May 24, 2021

Panattoni to speculatively develop three net zero carbon warehouses at key M3 corridor location

Panattoni and Legal & General’s Industrial Property Investment Fund (IPIF) have announced the purchase of land in Basingstoke, Panattoni’s second M3 corridor development programme in just under a month.

The 11-acre site will accommodate three net zero carbon warehouses of 40,209 sq ft, 77,548 sq ft and 96,302 sq ft. The Park is located within an already established industrial area with strong public transport links and amenities.

V Park is only two miles from both the centre of Basingstoke and J6 of the M3 motorway. It is well positioned on a pre-existing motorway access infrastructure route to take advantage of regional axis routes including the M25, A34, M27 and M4. It also has two million people living within 45 minutes by van. Almost 60% of the UK is accessible within a 4.5-hour HGV journey, offering the ability for delivery companies to reach millions of customers the same day.

Oliver Bertram, Development Director at Panattoni, said: “This location has excellent links to the M3 corridor which serves Europe’s largest consumer market. We are proud to start this new development which we believe will be in high demand. The Park is committed to deliver sustainable and future-proofed net zero carbon units allowing our tenants to benefit from the efficiency.

“V Park Basingstoke is being delivered at speed and we are looking forward to completing these ready for occupation by the end of Q2 2022. Demolition of the former Motorola factory is set to start in June this year. Once completed, the facilities could generate over 215 full time jobs.”

Jonathan Holland, Senior Fund Manager of IPIF at LGIM Real Assets, said: “This new acquisition forms part of our investment strategy adding to our London and South East portfolio. With high demand in this strategically important location from eCommerce and last-mile occupiers, we believe this will be an excellent long-term opportunity.”

The buildings will benefit from a high standard specification, harnessing net zero carbon (NZC) technology to prioritise energy efficiency and reduce operating costs. The buildings will be built to a BREEAM rating of ‘Very Good’, with many sustainable credentials and an EPC rating of ‘A’. The buildings are designed to promote energy efficient and low carbon operation, with 100% LED sensored lighting, 15% roof lights and extensive electric vehicle charging points. The units comprise:

– Unit 1 will have a total of 40,209 sq ft, with 12.5m clear internal height, 2 dock doors, 3 level access doors, 30 car parking spaces and 5 HGV trailer spaces.

– Unit 2 will have a total of 77,548 sq ft, with 12.5m clear internal height, 8 dock doors, 2 level access doors and space for 57 cars and 22 HGV trailers.

– Unit 3 will total 96,302 sq ft, with 12.5m clear internal height, 8 dock doors, 3 level access doors and space for 72 cars and 28 HGVs.

The agents for the scheme are CBRE and Cushman & Wakefield.

For more details, visit this link.

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Panattoni agrees blockbuster sale in the UK

panattoelement on May 24, 2021

Panattoni agrees blockbuster sale in the UK

Panattoni is set to sell the second phase at Panattoni Park Northampton.

GLP has agreed terms to acquire the second phase, circa 1 million sq ft, which is currently being developed by Panattoni. GLP purchased the first phase of the site for around £85m in 2019.

The 250,000 sq ft unit 1 and 428,000 unit 2 are currently under construction with completion anticipated in Q3 2021, while construction of the 376,000 sq ft final building is to commence shortly and complete in February 2022.The site is located on the outskirts of Northampton overlooking Junction 16 of the M1 motorway.

Successful exit from Panattoni

Panattoni successful developed and sold the first three units at the Northampton site. The developer let circa 625,000 sq ft to Eddie Stobart, before selling the units to GLP.

Oliver Bertram, Development Director, Panattoni, said: “Following the acquisition of the site in we have seen continued demand from the occupational market which has led to pre-lets at the park. The decision to sell the balance of the park to GLP made sense given the strength of the market.”

For more details click on this link.

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