Panattoni Spec Development secures tenant in Basildon
Panattoni, the largest developer in Europe, has agreed a 15-year lease with Swan Housing Association one of the UK’s leading modular home builders for its speculative development in Basildon. Swan will make the unit, named Basildon 117, its new headquarters in addition to its existing, adjacent factory.
Swan is a leading association and has provided high-quality, affordable homes to rent and buy since 1994. Today, it manages over 11,000 residential properties across Essex and East London and has 8,000 more secured in its development pipeline. The organisation aims to deliver an additional 10,000 homes by 2027. In 2020 Swan Housing was recognised to be in the Top 10 housing associations in the UK.
Swan will use the new warehouse, through its NU living development subsidiary, to manufacture light gauge steel modular housing and will operate Unit 117 alongside Swan’s existing Cross Laminated Timber volumetric system delivered in its existing factory. Through this expanded capacity, NU living will eventually be capable of delivering over 1,000 modular homes each year.
Basildon 117 is strategically located in the heart of the Thames Gateway, a key industrial area in the south east, close to the M25 motorway.
James Watson, Development Director for Panattoni, said: “It’s hugely promising to see Swan occupying this development on a long-term basis to support the growth of their company. The scheme is the largest to have been delivered in Basildon for over 10 years and will now give the organisation the space it needs to deliver on its targets. We’re proud to support an essential service and delighted to welcome Swan as a Panattoni customer.”
Matthew Byrom, Managing Director for Panattoni, added: “The speed at which this building was let confirms our strategy to build speculatively. We’re delighted to grow the business’s footprint in the London region and will continue to look for similar opportunities.”
Geoff Pearce, Deputy Chief Executive of Swan HA said: “Panattoni’s new facility is a key strategic move which will allow Swan to expand its production and meet key long-term housing delivery targets not just for Swan but also for its strategic and local authority partners. This is vital in a time when, having somewhere to feel at home, has never been more important. Basildon 117’s location opposite our existing factory, makes it an ideal location from which to continue to expand our offsite capability to include a steel framed approach and to increase the use of pre-manufacturing and componentisation.