Sunday, July 21, 2024

Logistics real estate developer acquires 65-acre site on Nottinghamshire/Yorkshire border

Panattoni, the logistics real estate developer, has acquired a 65-acre site on the Nottinghamshire/Yorkshire border with planning consent for over 1.2 million sq ft.

The two phase development, called Panattoni Central A1(M), by junction 34 of the A1(M), has been acquired from Mulberry Developments in an off-market deal. Panattoni will commence construction of what it says will be the largest-ever speculative logistics unit in the North of England, a building of 770,000 sq ft, in the autumn. Practical completion is expected in September 2025.

Panattoni is targeting net zero carbon development, an EPC rating of ‘A’ and BREEAM ‘Outstanding’ sustainability rating. The cross-docked unit will benefit from 18m eaves, 55m service yards, EV van and car charging and 15% rooflights. Winvic Construction has been appointed as the contractor.

The remaining 27-acre plot, which already benefits from reserved matters planning consent for a 461,000 sq ft building, will initially be marketed on a build-to-suit basis.

Dan Burn, Head of Development North West & Yorkshire at Panattoni, said: “This is a fantastic opportunity for us to acquire a prime logistics site in an established location by the A1(M). The development provides us with the opportunity to capitalise on the dearth of supply of XXL units across the country.”

Panattoni was advised by Cushman & Wakefield and Mulberry Developments was advised by M1 Agency.

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