Panattoni to speculatively develop £250 million, 1.3 million sq ft Avonmouth logistics development
Panattoni, the largest logistics real estate developer in Europe, is planning a £250 million speculative logistics development, which will include the UK’s largest-ever speculative logistics building, in Avonmouth, Bristol.
The development, called Panattoni Park Avonmouth, will be located on a prime, 73-acre site, Central Park, which Panattoni has just acquired in an off-market deal.
Panattoni will commence speculative development of 1.3 million sq ft of consented space in two units of 406,000 sq ft and 882,000 sq ft, which will be the UK’s largest-ever single speculative logistics building.
Panattoni expects to start construction shortly, with the intention of completing the development in the third quarter of 2023. Panattoni Park Avonmouth is strategically positioned for local and national distribution via the M32, M48, M49, M4 and M5 motorways. Major occupiers in the area, include Amazon, The Range, Lidl, DHL, Tesco and Davies Turner.
James Watson, Development Director at Panattoni, said: “Our new acquisition gives us the ability to deliver large-scale speculative units in an established logistics location. UK stock remains at an all-time low at a time when Bristol and the wider south-west and south-east markets are experiencing their strongest take-up for many years”.
Agents for Panattoni Park Avonmouth are DTRE, JLL & Colliers.