Panattoni lets 250,000 sq ft of speculative logistics space in Northampton to 4PX Express
Panattoni, the largest logistics real estate developer in Europe, has signed a lease agreement with 4PX Express, the global logistics company, for a 250,000 sq ft facility at Panattoni Park Northampton.
4PX Express has signed a 15-year lease for the facility, which was built speculatively, at the 1.7 million sq ft industrial park.
The letting follows the success of the first phase of 625,000 sq ft, which was let to Eddie Stobart Logistics. Panattoni has another 430,000 sq ft unit available to let and is expected to complete the final unit of 380,000 sq ft in February 2022, which could operate as 810,000 sq ft of space for a single occupier.
All buildings are built to a BREEAM rating of ‘Excellent’ and have an EPC ‘A’ rating.
Northampton sits in the ‘logistics golden triangle’, long regarded as the UK’s most strategically important location for distribution. Located at junction 16 of the M1, Panattoni Park Northampton is only 20 miles from the M6 and A14.
Oliver Bertram, Development Director for Panattoni, said: “Speculatively developing 1 million sq ft in one phase is testament to the importance of Northampton as a logistics location and the high level of occupier demand for the park. We are pleased to welcome 4PX to Panattoni Park Northampton and become our first tenant of phase 2”.
Letting agents for Panattoni are Savills and Burbage Realty. 4PX Express was advised by Altus Group.