Panattoni increases speculative programme with over 200,000 sq ft scheme in Crawley, UK
Panattoni, the largest industrial real estate developer in Europe, is working up plans for a 202,200 sq ft speculative, last-mile logistics development in Crawley.
The development, called Panattoni Park Crawley, is located in the established industrial area of Manor Royal Business District on a 10-acre brownfield site on Fleming Way, which Panattoni has just acquired from Aberdeen Standard Investments.
Panattoni is aiming to submit an outline planning application in the fourth quarter of this year, with a view to beginning demolition and construction in the first half of 2022 and completing in the first quarter of 2023. Panattoni will aim to pre-let the space, which could either be one unit of 202,200 sq ft or two units.
The development is part of Panattoni’s commitment to a significant speculative development programme in the UK in 2021 in response to strong demand from occupiers for immediately available space. In the south, Panattoni has acquired or progressed nearly 10 million sq ft of developments since the onset of Covid in March 2020.
Panattoni Park Crawley is located in an established distribution location adjacent to London Gatwick Airport. It covers an area of 540 acres and is home to more than 600 businesses generating 30,000 jobs.
Tony Watkins, Development Director at Panattoni, said: “This is a rare opportunity to acquire such a well-located site, as land in the south east for building a logistics facility of this scale is very scarce. This is a great site for accessing London”.
Letting agents are JLL and Savills.