Panattoni secures letting on 240,000 sq ft spec build

panattoelement on December 17, 2019

Panattoni secures letting on 240,000 sq ft spec build

Panattoni, the UK’s largest speculative developer of industrial warehousing, has secured a tenant, NWF Group plc, for its 237,734 sq ft speculatively built warehouse at Crewe Commercial Park.

NWF Group, a specialist distributor of fuel, food and animal feed across the UK, have exchanged contracts to lease the new warehouse for a 12-year term with Boughey Distribution Ltd, a wholly-owned subsidiary of NWF Group company, operating the facility.

Boughey Distribution Ltd, one of the UK’s leading ambient grocery distribution and storage specialists, will provide a new consolidation hub for a major new customer contract.

Dan Burn, Development Director at Panattoni, said “We are delighted to have secured a letting to NWF Group plc, so soon after practical completion.  This is a significant deal for the North West market and underpins the resilience in demand for well-located, speculatively built warehousing.”

Rob Andrew, Company Secretary at NWF Group said, “NWF are delighted to have worked with Panattoni to negotiate the letting of Crewe 240. The high bay, high specification unit provides a strategically located distribution facility for the expansion of the Boughey business, with the proximity to the M6 and our existing main warehousing hub at Wardle being a key driver to our decision-making process.”

Matt Pochin, Director at Legat Owen, who acted for Panattoni said “The success of Crewe as a prime business and distribution location continues with over 500,000 sq ft of space taken in the town over the last 12 months. NWF Group are a major part of this success along with Panattoni who have had the vision to invest in Crewe.”

Legat Owen acted as joint agents on the scheme with CBRE and Burbage Realty. Avison Young acted for NWF Group.

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Panattoni complete the largest development in Basildon for 10 years

panattoelement on November 26, 2019

Panattoni complete the largest development in Basildon for 10 years

Panattoni, Europe’s largest developer of logistics facilities, has completed the construction of a 117,000 sq ft unit suitable for headquarters, warehousing, manufacturing or distribution in Basildon.

Basildon 117 occupies a prominent position in an established distribution/industrial area at the heart of the Thames Gateway, one of the key industrial centres in the eastern M25 region.

The warehouse offers a 12.5-metre clear internal height, two-level access doors and ten dock levellers. It also features a 50 kN/m2 floor loading and over 10,000 sq ft of high-quality office accommodation.

Basildon 117 includes parking for 92 cars, 23 HGV’s and has yard depth of 35m. It is also built to BREEAM rating of ‘Very Good’ and has an EPC rating of ‘A’.

James Watson, Development Director of Panattoni, commented: “We are pleased to announce the completion of Basildon 117. The building is the largest currently available in the area.

“The 117,000 sq ft warehouse is a detached unit on its own secure site offering security and peace of mind to any occupier. Potential occupiers will be in good company with Amazon and Costa Coffee distribution units close by and will benefit from extremely easy access to major connecting roads.”

The warehouse overlooks the A127 near its junction with the A132, approximately a 12 minutes’ drive from junction 29 of the M25. Central London, roughly 30 miles to the west, is easily reached via the A127, A12 and A13 in just over an hour.

Via the A132 and A13, Basildon 117 also connects to Tilbury Docks in about 20 minutes’ drive and London Gateway in 16 minutes.

The A130 is within close proximity providing access to North Essex, making it an ideal location for UK businesses that need to connect with European supply chains via Felixstowe, which is just two hours away.

The proposed Lower Thames Crossing, a Highways England development to connect Thurrock and Essex to Kent through a tunnel underneath the River Thames will aim to reduce the traffic at the Dartford Crossing by 22%. In 2017 it was reported that 180,000 vehicles used the Dartford Crossing, and while the plan is only proposed, it would drastically improve drive times to vital connectivity hotspots near London.

John Allan, Director of Avison Young said: “Basildon 117 will give local and regional occupiers the chance to scale up, grow and expand without having to leave the area.

“An opportunity at this kind of scale hasn’t been seen in Basildon for a very long time.”

Basildon is the largest and fastest-growing economy in Essex and the second largest in the Thames Gateway area: there are over 91,000 people economically active in Basildon.

Over 1.5 million people live within a 45-minute drive to work time of Basildon 117 and earnings by place of work in Basildon are £28.80 less than in Chelmsford.

Matthew Byrom, Managing Director of Panattoni commented: “Our portfolio contains large distribution buildings in strategic locations and smaller units located to serve regional markets and the metropolitan conurbations such as London, Birmingham and Manchester.”

The joint agents for Basildon 117 are Avison Young, Knight Frank and JLL.

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Panattoni submits exciting plans for further development at Crewe Commercial Park

panattoelement on October 9, 2019

Panattoni submits exciting plans for further development at Crewe Commercial Park

Fresh from completing the construction of a 240,000 sq ft speculative warehouse at Crewe Commercial Park, Europe’s largest developer of logistics buildings, Panattoni, has submitted plans for a further single warehouse of 305,000 sq ft on the adjacent 14-acre plot.

The developer has submitted a reserved matters application for a warehouse of 291,239 sq ft, along with 13,864 sq ft of integrated three-storey offices and a security gatehouse.

The site occupies a prominent position adjacent to the A500, offering easy access to J16 of the M6.  Once built, the development will add £3m per year into the local economy and bring over 300 full-time jobs.

Dan Burn, Development Director at Panattoni, said: “We have been hugely encouraged with the interest that we have received to date for our 240,000 sq ft speculative unit.  By submitting this application, we will ensure that we can respond immediately to occupier’s requirements and give ourselves the option of a further phase of speculative development at the appropriate time”.

Matthew Byrom, Managing Director of Panattoni, added: “As a result of its strategic location between the North West and West Midlands conurbations, Crewe has always attracted a strong list of occupiers.  With proposals for the town to become a hub for HS2, we are confident of robust demand”.

CBRE, Burbage Realty and Legat Owen are the retained agents on the scheme.

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Panattoni sign off large-scale spec development of 1 million sq ft in Northampton

panattoelement on July 26, 2019

Panattoni sign off large-scale spec development of 1 million sq ft in Northampton

This second phase of development at the Park comes after we successfully spec developed and let 625,000 sq ft of space to Eddie Stobart Logistics. The new units will be developed over two phases, 250,000 sq ft and 480,000 sq ft to start on site in December 2020, followed at a later date by 380,000 sq ft. The consented buildings will have 18 metre clear internal height.

Build to suit opportunities are available during the development process, together with the option for an occupier to combine the two larger proposed warehouses into a single 800,000 sq ft unit.

Northampton sits in the so-called ‘logistics golden triangle’, long regarded as UK’s most strategically important location for distribution. Located at J16 of the M1, Panattoni Park Northampton is only 20 miles from the M6 and A14.

The completed buildings will be built to a BREEAM rating of ‘Excellent’ and have an EPC ‘A’ rating. Local services have been improved on site as part of the development, with the Red Lion Truck Stop parking area being expanded to accommodate more vehicles, as well as an HGV filling station being added to the existing set of pumps. The road leading to the truck stop and main development has also been improved to give better access to the motorway.

Oliver Bertram, Development Director at Panattoni, said: “We’re delighted to be continuing the development in Northampton, after only recently completing the three units for Eddie Stobart. This park gives businesses an ideal base to serve key markets across the UK, with direct access to the country’s major motorways. Market interest remains high in this area and we are committed to providing the right spaces for businesses to expand their operations. The new units at Panattoni Park Northampton will do just that.”

Matthew Byrom, Managing Director at Panattoni, added: “This next phase of development in Northampton demonstrates the success of our high-level business strategy in the UK and the speed and scale at which we work. There are very few developers who are able to deliver a 1 million sq ft spec option and it’s an important build for industry as a whole and one that we anticipate will be let quickly.”

A spokesperson for Northamptonshire County Council, said: “This new development will boost the Northamptonshire’s economy, not only providing by jobs but also encouraging businesses to move to the area. We are pleased to be working alongside a business that has a vision for our community and will offer support to ensure the units are let quickly. The benefits of this development will be clear and last long after construction has been completed.”

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Panattoni secures Pre-Let of 69,000 sq ft unit at Panattoni Park Luton to DETA Electrical

panattoelement on July 3, 2019

Panattoni secures Pre-Let of 69,000 sq ft unit at Panattoni Park Luton to DETA Electrical

Panattoni, has been working with DETA Electrical, a company who are already based in Luton, to provide a 69,000 sq ft distribution and head office facility.

DETA Electrical celebrated the company’s 60th anniversary in 2018. DETA is well established as a leading supplier to the UK electrical wholesale sector from its central base in Luton and has a strong presence in export. With its head office and distribution centre located in Luton, Deta’s dedicated and long serving team remain passionate and focused on maintaining its highly prized reputation as the number one specification of choice amongst the UK’s leading new build developers.

Gerry Barnett, Managing Director of DETA commented “This new build Distribution Centre will provide the platform for Deta’s future growth. This exciting facility will allow our Team to optimise the advantages for providing our customers with continued highest levels of service, and a growing product portfolio, many of which are already in the pipeline. We have worked closely with the Panattoni team to ensure this facility is exactly what we require. Our staff are looking forward to working in a modern building.”

Panattoni Park Luton is located on one of the most prominent and advantageous sites on the southern M1, immediately adjacent to the newly built junction 11A. The development comprises two units, one of 345,000 sq ft and the one that is Let to DETA. Both Units are under construction and will be available for occupation in Q4 of 2019

DETA have committed to the area which has served their business well and from which it supplies throughout the UK.  It is expected that the 345,000 sq ft unit  will appeal to other occupiers for the same reasons. Panattoni Park Luton benefits from excellent road connections. Central London is merely 36 miles away and the M1 / M25 intersection is 17 miles to the south.

Furthermore, Luton Airport is eight miles away and the site is within easy HGV drive times of major UK ports including Felixstowe, London Gateway, Southampton and Dover.

Occupiers can also take advantage of a skilled warehousing and logistics workforce within easy driving and cycling distance. The site will also benefit from its own new dedicated bus route and bus stop.

James Watson, Development Director of Panattoni UK, said: “We are pleased to welcome a key local company to Panattoni Park Luton. We have worked  closely with the DETA team to deliver for their specific requirement.”

Agents for the scheme are Savills and M1 Agency.

For more information about Panattoni visit www.panattoni.co.uk

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Panattoni’s big spec bet pays off

panattoelement on June 26, 2019

Panattoni’s big spec bet pays off

Industrial developer Panattoni is on the verge of securing its biggest UK letting deal since embarking on an ambitious speculative building programme two years ago.

Third-party logistics provider Eddie Stobart is in advanced talks to take long leases on three speculatively built units of 310,000 sq ft, 222,000 sq ft and 93,000 sq ft at Panattoni Park Northampton. It is thought the deal will be completed in two weeks’ time.

The deal would be by far the biggest letting Panattoni has achieved since it merged with First Industrial and launched its vast speculative programme in the UK in September 2017.

“All eyes have been on Panattoni since it entered the UK with ambitious spec plans to see whether it would back them up and attract occupiers,” said one senior industrial and logistics figure. “The fact that it has got the ball rolling on letting its large spec schemes is a great sign for the market.”

Panattoni has committed to 6.5m sq ft of speculative development on 16 UK sites. Its previous largest letting of spec space was 100,000 sq ft to Travis Perkins in Birmingham.

It had also made three sub-100,000 sq ft lettings, at Belvedere in south-east London, Nottingham and Luton.

The three spec units at its Northampton park are expected to be completed towards the end of this year. The second phase will comprise build-to-suit units ranging in size from 260,000 sq ft to 780,000 sq ft.

Panattoni has been one of the most aggressive buyers of UK industrial land in the past 18 months, securing sites in Borehamwood, Luton, Basildon, Swindon, Reading and Slough.

Earlier this month, it beat stiff competition from residential developers to buy the former AkzoNobel manufacturing plant in Slough.

The 30-acre site had attracted bids from housebuilders because of its residential development potential. A pre-planning application had been submitted for a scheme with 500 to 700 homes.

Panattoni’s success in landing the site highlighted the narrowing gap between industrial and residential land values.

The company plans to speculatively build industrial and logistics units in a range of sizes and is also open to interest from occupiers with build-to-suit requirements.

Burbage Realty and Savills are letting agents at Panattoni Park Northampton. All parties declined to comment.

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Panattoni acquires a prime 30-acre site in Slough

panattoelement on June 7, 2019

Panattoni acquires a prime 30-acre site in Slough

Panattoni, Europe’s largest industrial and logistics developer, has beaten off stiff competition to acquire a prime 30 acre site in Slough for the development of an industrial led scheme.

The developer has bought unconditionally the former ICI paintworks site in Wexham Road from AkzoNobel for an undisclosed sum.

Panattoni plans to speculatively build a number of high quality industrial and logistics units in a range of sizes and is open to interest from build to suit occupiers while it is going through the planning process.

The site is located two miles east of the Slough Trading Estate, home to several blue-chip occupiers including Mars, Telefonica O2, Ferrari, UK Mail, Lanes Group and UCB.

It is positioned in the prime west London corridor, within minutes of the M4 and M25, giving fast access to both Central London and Heathrow.

Potential occupiers will benefit from access to a large employment base with around 2.6 million people living within an hour’s drive.

Tony Watkins; Panattoni’s Development Director, commented: “Slough is going through a significant period of growth and there is an acute lack of space for commercial occupiers.  There is now very limited opportunity for expansion in the Slough Trading Estate and we have already been approached by a number of parties looking to move”.

Matthew Byrom; Panattoni’s UK Managing Director, said: “To bring forward a site of this nature takes experienced and committed counterparties to reach an agreement. We would like to thank AkzoNobel for their constructive and collaborative approach, which was critical to concluding the transaction”.

This deal is the latest in a number of significant transactions completed by Panattoni in the south of England over the last few months, these include acquisitions in Luton, Borehamwood, Basildon, Swindon and Reading.

Matthew Byrom added: “The market fundamentals of our sector and the region mean we have a continued appetite for further development opportunities in the UK and we look forward to making a number of further announcements shortly”.

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Demolition underway at Panattoni Park Borehamwood

panattoelement on May 31, 2019

Demolition underway at Panattoni Park Borehamwood

Panattoni, Europe’s largest developer of logistics facilities, is now on-site at Borehamwood in London. The super prime 17 acre industrial site was unconditionally acquired from Sainsbury’s in 2018, after a keenly contested bidding process, which set new record land prices for the North London Industrial Market.

Panattoni plans to speculatively develop a number of high quality industrial / logistics units ranging from 35,000 sq. ft to 130,000 sq. ft, although the site is capable of accommodating a single building of up to 335,000 sq. ft.

Tony Watkins, Development Director at Panattoni comments “…Borehamwood being only 12 miles north of Central London and 2.5 miles from the M25, represents a rare opportunity for occupiers to service a number of key affluent catchments and will likely appeal to the fast growth urban logistics market.” The first phase of buildings will be available for occupation in Q4 2020.

Matthew Byrom, Panattoni’s UK Managing Director said “…we’ve seen strong rental growth in many of the prime London sub-markets, which has underpinned our London Logistics Strategy to buy the very best sites and move on rents to match demand”.

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Panattoni begins development of new speculative logistics/manufacturing warehouses in Luton

panattoelement on April 5, 2019

Panattoni begins development of new speculative logistics/manufacturing warehouses in Luton

Panattoni, the world’s largest speculative logistics developer has commenced the development of Panattoni Park Luton, comprising Luton 345 and Luton 69. Panattoni Park Luton is located on one of the most prominent and advantageous sites on the southern M1, immediately adjacent to the newly built junction 11A which provides fast access via the M1 to the A5 north of Dunstable. The development consists of two units, one of 345,000 sq ft and one of 69,000 sq ft, with a GDV of £80m. Luton is an established industrial and logistics location, and has already attracted a variety of prestigious companies, with Panattoni’s development located immediately north of Vauxhall Motor’s long- established logistics facility. Panattoni Park Luton benefits from excellent road connections. Central London is merely 36 miles away and the M1 / M25 intersection is 17 miles to the south. Furthermore, Luton Airport is just seven miles away and the site is within easy HGV drive times of major UK ports including Felixstowe, London Gateway, Southampton and Dover. In addition, there are proposals for a new link road from junction 11a of the M1 to the A6. This will improve the scheme’s access to the A1, bringing the east coast ports closer and opening up the East Midlands. Occupiers can also take advantage of a skilled warehousing and logistics workforce within easy driving and cycling distance. There are 1.8 million people living within a 45 minute drive, with 9,000 skilled in transport and storage work. The site will also benefit from its own new dedicated bus route and bus stop. James Watson, Development Director of Panattoni UK, said: “We are dedicated to providing only the best quality buildings in the best locations and Panattoni Park Luton fulfils these ambitions. “We expect to attract occupiers looking for a close connection to London, the Midlands and international markets – given the proximity of London Luton airport and easy HGV drive times to leading UK ports.” Panattoni Park Luton will be ready for occupation in Q4 2019 and agents for the scheme are Savills and M1 Agency. Ground breaking event. From left to right: Danny Nelson, Director, Winvic Construction; Ben Shearman, Operations Manager, Winvic Construction; Andy Hall, Partner, M1 Agency; Sue Glantz, Business Investment Officer, Central Bedfordshire Council; James Watson, Development Director, Panattoni. For more information about Panattoni visit www.panattoni.co.uk Press contact information: Asgoo Pirbhai 0116 233 5565 or asgoo@reachmarketing.co.uk

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Panattoni starts work on speculative HQ warehouse in Basildon

panattoelement on February 5, 2019

Panattoni starts work on speculative HQ warehouse in Basildon

The site of the former Kongsberg Automotive Plant in Basildon is being redeveloped by Panattoni to provide a headquarters warehousing, manufacturing or distribution unit.

Known as Basildon 115, Panattoni’s 115,000 sq ft development will occupy a prominent position in an established industrial and distribution location in the heart of the Thames Gateway. It will include offices and parking for 92 cars.

The area has already attracted many household names including Tesco, Argos, Amazon, Costa Coffee and UK Mail.

Basildon 115, in Christopher Martin Road, overlooks the A127 near its junction with the A132, approximately nine miles from junction 29 of the M25. Central London is about 30 miles to the west, and is easily reached via the A127, A12 and A13. This dual carriageway also connects Basildon 115 to Tilbury Docks and London Gateway.

With the A130 also nearby, providing access to north Essex, Panattoni believes Basildon 115 is an ideal location for UK businesses looking to connect with European supply chains via the east coast ports of Felixstowe and Harwich.

Furthermore, the proposed Lower Thames Crossing will benefit occupiers in Basildon. The crossing will boost local, regional and national economies, and form an essential part of the UK’s transport infrastructure, improving connections across the country.

Agents for the development are GVA, Knight Frank and JLL.

GVA director John Allan said: “Larger, new warehousing is much-needed in the area. Basildon 115 will give a chance to local and regional occupiers to scale up, grow and expand without having to leave the area.

“An opportunity at this kind of scale hasn’t been seen in Basildon for a very long time.”

Matthew Byrom, the Chief Executive of Panattoni UK, said: “Basildon is the largest and fastest-growing economy in Essex and the second largest in the Thames Gateway area.

“It is an established centre of excellence for engineering and manufacturing and boasts some of the most advanced technical facilities in the UK.

“I am confident Basildon 115, due to its high spec finishes and efficiency performance will attract occupiers looking for a headquarters operation in close proximity to London and within easy reach of mainland Europe.”

Unusually for a logistics building it is available freehold as well as leasehold and will be ready for occupation in the fourth quarter of 2019.

Agents for the development are GVA, Knight Frank and JLL.

Panattoni, which operates in the UK, Europe and the US, has earned a reputation for delivering efficient buildings characterised by innovation, flexibility, speed, and convenience.

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