Panattoni leases 305,360 sq ft facility in Crewe to AO
Panattoni, the largest industrial real estate developer in Europe, has signed a lease agreement with AO, the online electricals retailer, for a 305,360 sq ft logistics facility in Crewe.
AO has signed a 10-year lease for the facility, Crewe 305, which is the largest speculatively developed warehouse in the North West region to be completed this year. The facility is the second to be developed by Panattoni at Crewe Commercial Park, which is adjacent to the A500 dual carriageway and close to junction 16 of the M6.
The first unit of 240,000 sq ft was let to NWF Group last year on a 12-year lease.
Crewe 305 has been built to a BREEAM rating of ‘Very Good’ and an EPC rating of ‘A’ with many sustainability features, such as low energy office lighting and 15% roof lights. It also has a 15m clear internal height, 27 dock doors, five level access doors, a 50m yard with parking for 49 HGVs and up to 1.5 MVa of power.
The site will be AO’s fourth distribution warehouse in Crewe and sixth in total. The facility will be used to distribute to AO’s network of local hub depots across the country to ensure it has the capacity to manage increasing customer demand.
Dan Burn, Development Director at Panattoni said: “Panattoni have worked hard with AO and their team to provide them with immediate access to our new Crewe 305 facility upon practical completion of the building. It is great to have been able to provide the space for such a huge local occupier to expand their capacity while being able to stay local to their current operation. We are delighted to be a part of their continued expansion. Letting the building on practical completion further endorses our speculative development programme”.
Letting agents were Legat Owen, Burbage Realty and CBRE. Savills acted for AO.