Panattoni commits to 1m sq ft in Northampton
Panattoni, the largest industrial developer in Europe, is set to start work on the second phase of its 1.6 million sq ft industrial park in Northampton.
Panattoni Park Northampton is already the home to three former Panattoni buildings and will see further units delivered at 250,000 sq ft, 380,000 sq ft and 430,000 sq ft, totalling over another 1 million sq ft at the park.
The second phase of development at the Park comes after Panattoni successfully speculatively developed and let 625,000 sq ft of space to Eddie Stobart Logistics. The three new units will be developed over two phases, the first being units 250,000 sq ft and 430,000 sq ft started in December 2020. The 380,000 sq ft will commence in 2021.
Each will benefit from the same prominent location based on junction 16 of the M1 motorway, which will see tens of thousands of cars pass the occupiers’ logos each day. The two larger units have additional planning consent for 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’, considered to be the UK’s most strategically important location for distribution. 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 ‘A’ EPC 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 a HGV filling station being added to the existing set of pumps. The section 278 road that leads to the truck stop and main development has also been improved to give better access to the motorway. Once fully occupied, the development could support over 1000 jobs.
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 shows that Panattoni has the confidence to deliver speculatively, knowing that the market needs more space.
“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 limited opportunities in the UK that will 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 soon be let quickly.”