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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Panattoni acquires key M1 corridor site in the UK

panattoelement on May 18, 2021

Panattoni acquires key M1 corridor site in the UK

Panattoni, the largest developer in Europe, has announced it has secured the purchase of a key 31-acre site at J28 of the M1.

Panattoni Park J28 Central M1 is the latest addition to the developer’s portfolio, having recently announced its commitment to over three million sq ft of speculative builds in the UK this year.

The site will accommodate two warehouses, a 345,000 sq ft and 230,000 sq ft unit, which are set to be completed in Q4, 2022.

Panattoni Park J28 is a significantly recognised leading logistics location within the northern part of the East Midlands. Being less than a mile from J28 of the M1, off the A38, it is just 16 miles and a 19 minute HGV journey to Nottingham, 19 miles to Derby and half an hour from East Midlands Airport. Local occupiers include Amazon, XPO, Co-op, Eurocell and Alloga UK who have recently taken a building from Panattoni at Derby370.

Both buildings at Panattoni Park J28 will be built to a BREEAM rating of ‘Very Good’, an EPC rating of ‘A’ and have 15m clear internal height and 50m yards. Unit 1 will total 343,185 sq ft, while Unit 2 will have 231,068 sq ft of warehouse space. Both will include office and hub spaces.

Work is expected to start at the site in Q1 2022, with over 900 jobs created.

Andy Preston, Development Director at Panattoni said: “We are delighted to announce this acquisition in this established location, which is positioned on the A38 trunk route just a three minutes’ drive to J28 of the M1.

“We are seeing strong demand for Grade A accommodation across the whole of the Midlands currently, and see Panattoni Park J28 as a perfect fit within our expanding portfolio, which currently includes sites at Derby, Nottingham and EMDC,” he added.

FHP have been appointed as agents on the scheme.

For more details, visit this link.

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Panattoni enters the Hungarian market with 2 large projects

panattoelement on May 10, 2021

Panattoni enters the Hungarian market with 2 large projects

Panattoni, Europe’s largest industrial developer, is entering a new market. The company has announced the opening of an office in Hungary, headed by László Kemenes. 

Panattoni’s expansion continues. The developer is already present in the US, Canada and the largest warehouse and industrial markets in Europe as Germany, the UK, Netherlands, Czech Republic, Poland and Spain. And now, in May 2021, the developer has announced the opening of its first office in Hungary and has already two projects secured in the Budapest market.

“Our clients are companies that operate on many European markets. We want to give them the best possible conditions for functioning in each of these markets, providing them with the highest class warehouse and production space,” explains Robert Dobrzycki, the CEO of Panattoni. As he goes on to add, one of the main reasons for this latest expansion is the strength and potential of the Hungarian market: “As with other countries of the region, the global pandemic has had little impact on the Hungarian real estate warehouse and industrial sector. The country is also set to benefit from new trends that were strongly evident last year, including the growth of e-commerce. It could also benefit from the fact that many Asian companies are looking for alternative locations for warehouses and production plants, since many automotive companies are now located in the country. In addition to that, Chinese finance is being used for the construction and modernisation of a high-speed railway between Budapest and Belgrade, which will connect the Balkans with a special transport route to the now Chinese-owned Piraeus seaport in Athens. Thus, Hungary is becoming an increasingly important bridgehead for the Chinese in Europe and a gateway into Western countries. Upon the completion of this project, the country will be in strong position to be able to compete with major logistics hubs across Europe.”

The Hungarian branch of Panattoni is to be headed by László Kemenes. He will be responsible for the development of speculative and big-box projects in Hungary, from the site acquisition and investment preparation, through to the commercialisation of the projects and their transfer to their eventual tenants.

László Kemenes has over 20 years of experience in developing, advising, leasing and selling real estate in the region. Over the last thirteen years (2006–2019), he held the position of country manager at Prologis in Hungary and also managed its Romanian office for several years. He was responsible for all the business and development activities of the company in both countries, including the identification of investment opportunities, new projects and client acquisition, along with overseeing its project and property management activities as well as the finance and legal departments. During his time at the company, he delivered almost 300,000 sqm of space to the Budapest market and was managing 700,000 sqm of assets.

Prior to this, he was employed for four years as a senior real estate advisor at CB Richard Ellis, where he was head of the industrial department and his duties involved leasing, sale and valuation of commercial and industrial real estate. László obtained a BA in business studies from the International Business School in Budapest and has been a member of the RICS (Royal Institution of Chartered Surveyors) since 2011. He is fluent in English and also speaks a little German.

Budapest is continuing to grow rapidly. The city and its surrounding area, where one fifth of the entire Hungarian population lives, are the country’s main logistics and distribution market. This has undergone significant growth, with record high demand together and an insufficient supply of modern space to meet it. At the end of the third quarter of last year, the industrial stock in this region amounted to 2.35 million sqm, with no new warehouse buildings delivered in Q3 2020. Total demand reached 176,900 sqm – a fall of 30%, but higher than in the same period of the previous year. The total demand over the January-September period also hit a record high in comparison to previous years, reaching 460,000 sqm. At the end of October, approximately 183,000 sqm was under construction.

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Panattoni announced largest logistics developer in the UK and Europe – 5th year in a row

panattoelement on May 4, 2021

Panattoni announced largest logistics developer in the UK and Europe – 5th year in a row

Panattoni, the largest developer in Europe, has, for the fifth year in a row, taken first place in PropertyEU magazine’s Top Logistics Developers ranking.

In 2018–2020, the company delivered 69 million sq ft of warehouse and industrial space to the market. Panattoni owes its strong position to its expert anticipation of market trends and its rapid response to the economic turmoil brought about by the pandemic.

 

 

Panattoni has topped PropertyEU’s ranking to secure the title of Top Logistics Developer. The survey ranks the largest European developers according to the amount of warehouse space they build. This year’s list covers the period from 2018 to 2020. During this time, Panattoni delivered to the European markets as much as 69 million sq ft.

Robert Dobrzycki, the CEO of Panattoni, said: “Earning the title of the largest developer in Europe for the fifth year in a row shows that our company has clearly been strengthening its position on the European market. It confirms that the development directions we have adopted were obviously the right ones.

“A major part in this has been played by the growth of e-commerce, which the Covid-19 pandemic has accelerated even further. Automated centres built for this sector already account for 35% of all our projects. The number of ‘last mile’ city parks we have developed in Germany, the UK and Poland is also growing,” he said.

“Around 25% of all our projects are highly technologically advanced production facilities. Panattoni specialises in the construction of this type of facility, tailored for a specific client. The disruption to supply chains caused by the pandemic has been leading many companies to consider relocating their manufacturing businesses or parts of them to Europe to be closer to their customers. The Central European markets in which we operate can only benefit from this.”

 

 

It is not only through an accurate analysis of the market trends that Panattoni’s success has been achieved. The company’s growth has also been fostered by its decision to implement a sustainable development strategy, which has put it at the cutting edge of the environmental changes in the sector.

As standard, the company provides warehouse and production facilities with environmental solutions that help to reduce CO2 emissions as well as energy and water consumption, while improving the well-being of the buildings’ eventual employees. The effectiveness of these measures is also confirmed by the company’s policy of obtaining BREEAM certification for each project. In an era when combating climate change is of paramount importance, such an approach is entirely in tune with the expectations of clients.

In its more than 15 years of activity on the European market, Panattoni has completed projects with a combined area of ​​more than 129 million sq ft. These include both BTS production facilities and more than 2,152,782 sq ft of specialised centres designed for major e-commerce players. The developer also provides a variety of space in its own parks in logistically attractive locations, including in cities. Panattoni is currently active in, among other markets, the UK, Poland, Germany, the Czech Republic, Slovakia, Spain and the Netherlands.

To view the full article, click here

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Panattoni leases one of the largest speculative developments in the UK

panattoelement on April 26, 2021

Panattoni leases one of the largest speculative developments in the UK

Panattoni, Europe’s largest developer of logistics facilities, has leased its East Midlands Distribution Centre building to Buy It Direct Group.

Panattoni has announced that the new lease has been signed for its 523,404 sq ft distribution centre situated in one of the most strategic logistics locations in the Midlands, which neighbours the 1 million sq ft Marks and Spencer DC. The site is located off J24a M1 and within 5 miles of both East Midlands Airport and the new Maritime Freight terminal.

The cross-dock facility, known as EMDC 525, comprises a giant 492,000 sq ft warehouse space, 18-metre eaves and two 50m yards. The building has been awarded a BREEAM rating of ‘Very Good and EPC rating of ‘A20’. The building demonstrates Panattoni continuous commitment to sustainability. This has been achieved by electric vehicle charging points, bicycle shelters and safe access for pedestrians to use sustainable transport. The building features 15% roof lights, LED censored lighting and sub-metering on energy use.

Buy It Direct, one of the UK’s leading eCommerce retailers, have immediately commenced with their fit out with the aim to start dispatching goods by the end of summer. They intend to use the facility to meet the continued demand for online products from across the UK.

Andy Preston, Development Manager at Panattoni said: “We are delighted to have secured the letting of this 523,404 sq ft facility to online retailer Buy It Direct, at such a strategic location near East Midlands airport and the M1, which we believe will serve them well.

“This lease demonstrates the demand in the logistics market for quality space, along with reinforcing the strength of Panattoni’s speculative programme throughout the UK. Panattoni have recently started on site at Derby 515. At 514,193 sq ft this cross-docked warehouse is set to be one of the largest single-unit speculative developments under construction in the country, closely followed by the 512,850 sq ft development at Panattoni Wakefield 515,” he added.

Panattoni is currently on-site at Derby515 will steels emerging in the coming weeks, the speculative development is expected to be available from Q4 2021. To keep up to date with progress on-site please view the live site camera here.

For more details on the site, visit this link.

Panattoni was represented by FHP, Gerald Eve and Savills.

 

 

 

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Panattoni acquires key M3 corridor site, south east of London

panattoelement on April 20, 2021

Panattoni acquires key M3 corridor site, south east of London

Panattoni, the largest developer in Europe, has completed the purchase of a development on the M3 corridor near to Farnborough, south east of London.

Panattoni Farnborough 170 is the latest addition to the developer’s portfolio, having recently announced its commitment to three million sq ft of speculative builds in the UK this year.

The prime positioning of this 8.33 acre site, which will accommodate for a building of 168,241 sq ft within an established logistics location (previously the Benthalls Warehouse), means it will offer the occupier a rare opportunity for those looking to serve Europe’s largest consumer market.

Panattoni Farnborough 170 is strategically located to the south east of London and is adjacent to J4 of the M3 at Farnborough. Just a 15 minutes’ drive to J12 of the M25, it has 15.6 million consumers within a 90-minute drive time. More than 60% of the UK is accessible within a 4.5 hours HGV drive time. It also sits within the top tier of locations, allowing delivery companies to reach millions of customers the same day.

Demolition of the old Benthalls unit is due to take place this month, with the building ready in Q3 of 2021. Completed the facility could generate over 170 employment opportunities.

The building will be built to a BREEAM rating of ‘Very Good’, with many sustainable credentials and an EPC rating of ‘A’. The facility will benefit from up to 2.5 MVa power. It will have 15m clear internal height, 12 dock doors, 9 level access doors for van deliveries, as well as extensive car parking, electric charging points and cycle spaces.

Tony Watkins, Development Director for Panattoni said: “This is a rare opportunity for the occupier to be near the excellent location of the M3 corridor region and be able to serve Europe’s largest consumer market. The specification of the building has been adapted to deliver on this ample power, loading provisions and direct M3 access. Panattoni Farnborough 170 will be delivered at speed, and the demolition of the Benthalls unit will shortly be underway on the site.

“There is high demand for this kind of building within this market and the 170,000 sq ft development offers a strong base for a variety of occupiers requiring excellent transport links,” he added.

TSL have been appointed main contractor on the site, and agents on the scheme are DTRE and Savills.

For more details, visit www.panattoni.co.uk/farnborough170

 

 

 

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Panattoni purchases Honda’s 370 acre Swindon Plant in the UK

panattoelement on March 26, 2021

Panattoni purchases Honda’s 370 acre Swindon Plant in the UK

Honda has today announced it has entered into a contract for sale of its Swindon site. Originally purchased by the Japanese car manufacturer in 1985, the site has been sold to Panattoni, Europe’s largest developer of new build industrial and logistics facilities.

In 2019, Honda Motor announced a restructuring of its global automobile manufacturing operations, which included the cessation of production at the UK plant in July 2021, at the end of the current model cycle of the Civic Hatchback. Following the closure announcement, Honda committed to leaving the site in a responsible way, with a sustainable legacy for Swindon.

Jason Smith, Director at Honda of the UK Manufacturing, said: “We are pleased to have identified a capable new owner of the site. From our engagement with Panattoni and initial discussions with Swindon Borough Council, we are confident that the new owner can bring the development forward in a commercially timely fashion and generate exciting prospects for Swindon and the wider community.”

Following the end of production on 30 July 2021, Honda will immediately commence the decommissioning of the Swindon site. The site is anticipated to be legally handed over in Spring 2022, and once the necessary consents have been obtained, Panattoni  will start regeneration and redevelopment shortly thereafter.

James Watson, Development Director for Panattoni, said: “Panattoni is committing to invest over £700 million into the site to attract new employers and provide for existing businesses looking to expand in Swindon. We will be working very closely with Honda and Swindon Borough Council, along with the community and its representatives to regenerate the site.”

Matthew Byrom, Managing Director of Panattoni in the UK, said: “The acquisition of the 370-acre Honda facility demonstrates our capabilities to work at scale. The re- development of this strategic employment site will deliver thousands of new opportunities in roles which underpin the operation of the local and regional economy.”

Susie Kemp, Chief Executive of Swindon Borough Council, said: “The new opportunities outlined by Panattoni will be a major step in Swindon’s rejuvenation following Honda’s exit. Their investment offers a significant boost to the local economy and we are excited by the prospect of this redevelopment creating thousands of jobs for Swindon and the surrounding area. We already have a strong working relationship with Panattoni following their recent development of the adjacent site, Symmetry Park, and look forward to working with them over the next year. We understand that Honda’s key aim was to identify a responsible new owner and I believe today’s announcement demonstrates that.”

As part of its continued efforts to leave a positive legacy in the local community, Honda will assess opportunities for small sections at the edge of the site that are not required for Panattoni’s development to be utilised by the neighbouring communities.

Panattoni will now commence all necessary planning work with Swindon Borough Council, with support from Honda.

For general media enquires please email swindon@panattoni.com or contact 0800 029 77 44.

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Panattoni committing to another half-million sq ft of spec in Derby 

panattoelement on March 22, 2021

Panattoni committing to another half-million sq ft of spec in Derby

Panattoni, the largest developer in Europe, has committed to speculatively develop 515,000 sq ft in Derby, at the heart of the UK’s major road and motorway network.

The developer is advancing its building portfolio with construction beginning on the site this month for the Derby 515 warehouse. At 514,193 sq ft, it is set to be one of the largest single-unit speculative developments under construction in the country, ahead of the Panattoni Wakefield development of 512,850 sq ft.

The building is part of Panattoni’s 900,000 sq ft development at Derby Commercial Park, on Raynesway, two miles east of the city. It is already home to the speculatively built Derby 370 unit, which has recently been let to Alloga UK on a 15-year lease term.

Derby 515 is expected to complete Q4 2021, with the potential for circa 500 jobs to be created.

The building will have 15m clear internal height, 56 dock doors and 8 level access doors, as well as parking for 185 trailers. It will be built to BREEAM ‘Very Good’ and EPC ‘A’ ratings.

Panattoni has also announced a new design to their portfolio which enables the buildings to be split to accommodate two operations. Derby 515 has been designed with a flexible envelope to accommodate a cross-split option, allowing the building to be sub-divided down its length for two occupiers. The cross-split will form two self-contained units of 226,497 sq ft and 287,416 sq ft. Each would have 28 dock doors, 4 level access doors, a secure self-contained yard, a car park and own gatehouse.

Andy Preston, Development Manager for Panattoni Derby 515 said: “The new warehouse will be built to our normal high specifications offering flexibility and energy cost savings to occupiers. This will be one of the largest single-unit spec builds in the country and will benefit from being in one of the UK’s centres for advanced manufacturing and logistics.”

Kuehne + Nagel’s decision to locate a 632,000 sq ft logistics unit for Drinkflow Logistics for Heineken and the 250,000 sq ft XPO logistics unit for Ted Baker at this location underpins the area’s importance as one of the Midlands’ leading logistics locations.

Other big-name occupiers in the area include Rolls-Royce and Bombardier, and many of their key suppliers.

Derby Commercial Park is 11 miles from East Midlands Airport, the UK’s  second 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.

Occupiers will have access to a large workforce experienced in logistics and transport services, with almost 140,000 people living within a 15-minute drive of the site.

The letting agents are Avison Young, CBRE and Burbage Realty.

For more information, please visit this link.

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