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.