Panattoni acquires 23-acre Wakefield site for 500,000 sq ft speculative build

Panattoni, the world’s largest privately owned industrial developer, has acquired a 23-acre site at Wakefield Europort, West Yorkshire, from Delin Property, where it will deliver Panattoni Wakefield 500 in joint venture with Newport by Panattoni, a 500,000 sq ft speculative cross-docked logistics and warehousing development. Construction is scheduled to commence this quarter.

The development will be delivered to a high specification, with 56 dock doors, 8 level access doors,  yard depths of up to 50 metres, 62 HGV spaces, 384 car parking spaces and a power supply of 2.5 MVA. The scheme will target BREEAM ‘Outstanding’ and will achieve net zero carbon in construction, aligning with occupiers demand for sustainable, future-proofed buildings.

This development comes at a time when supply of large-format logistics space remains severely constrained across the UK. Opportunities at the approx. 500,000 sq ft scale are particularly limited, with no units of this size currently under construction on a speculative basis in the Yorkshire region. Delivering the scheme on a speculative basis also provides occupiers with greater certainty around pricing and deliverability in an otherwise volatile market.

Wakefield Europort is one of West Yorkshire’s premier logistics destinations, offering direct access to Junction 31 of the M62 and connectivity via the M1 and A1(M), providing comprehensive motorway coverage across the North, Midlands and beyond. It is also home to a rail freight terminal operated by Maritime, offering occupiers an alternative to road-based distribution and supporting decarbonisation of supply chains. Wakefield benefits from a well-established logistics labour market and competitive occupancy costs relative to many comparable locations across the North.

Andrew Preston, Senior Development Director at Panattoni, said:

“Wakefield Europort is one of the strongest logistics addresses in Yorkshire, and this acquisition reflects our conviction that demand for large-format, high-specification space in this market is not being adequately served by existing supply. The combination of M62, M1 and A1(M) connectivity is rare at this scale, and the presence of a rail freight terminal adds a further dimension that is increasingly relevant to occupiers with sustainability commitments. We look forward to starting on-site this quarter and bringing this speculative warehouse for occupation as quickly as possible.

Panattoni Wakefield 500 reflects the company’s continued commitment to big box speculative development, supply-constrained markets, bringing forward high-specification, sustainable assets aligned with long-term occupier demand.”

Daniel Raemy, Chief Executive Officer at Newport by Panattoni, said

“This acquisition further strengthens Newport Fund III’s strategy to invest in strategically located European logistics assets with strong long-term occupier relevance.

Wakefield 500 expands our UK exposure into the big-box segment, combining scale, excellent motorway connectivity and intermodal potential in one of the country’s most established logistics corridors.

The project reflects the type of institutional-quality development we continue to target – assets aligned with evolving supply-chain requirements, sustainability standards and future liquidity expectations. Together with Panattoni’s UK proven delivery platform, we believe this investment supports the fund’s strategy of building a resilient, future-oriented logistics portfolio across Europe.”