Panattoni acquires key M1 corridor site in the UK
Panattoni, the largest developer in Europe, has announced it has secured the purchase of a key 31-acre site at J28 of the M1.
Panattoni Park J28 Central M1 is the latest addition to the developer’s portfolio, having recently announced its commitment to over three million sq ft of speculative builds in the UK this year.
The site will accommodate two warehouses, a 345,000 sq ft and 230,000 sq ft unit, which are set to be completed in Q4, 2022.
Panattoni Park J28 is a significantly recognised leading logistics location within the northern part of the East Midlands. Being less than a mile from J28 of the M1, off the A38, it is just 16 miles and a 19 minute HGV journey to Nottingham, 19 miles to Derby and half an hour from East Midlands Airport. Local occupiers include Amazon, XPO, Co-op, Eurocell and Alloga UK who have recently taken a building from Panattoni at Derby370.
Both buildings at Panattoni Park J28 will be built to a BREEAM rating of ‘Very Good’, an EPC rating of ‘A’ and have 15m clear internal height and 50m yards. Unit 1 will total 343,185 sq ft, while Unit 2 will have 231,068 sq ft of warehouse space. Both will include office and hub spaces.
Work is expected to start at the site in Q1 2022, with over 900 jobs created.
Andy Preston, Development Director at Panattoni said: “We are delighted to announce this acquisition in this established location, which is positioned on the A38 trunk route just a three minutes’ drive to J28 of the M1.
“We are seeing strong demand for Grade A accommodation across the whole of the Midlands currently, and see Panattoni Park J28 as a perfect fit within our expanding portfolio, which currently includes sites at Derby, Nottingham and EMDC,” he added.
FHP have been appointed as agents on the scheme.
For more details, visit this link.