Panattoni has increased its investment in its net-zero carbon logistics park at Sittingbourne to €198.9m with the acquisition of an additional c. 40.5-ha site at G Park Sittingbourne.
Panattoni is preparing to submit a planning application for an 11,907m2 unit on the new site. Construction of this second phase of development is expected to start in the fourth quarter of this year, with completion due in the third quarter of 2025.
Panattoni is already under construction with the 59,838m2 first phase of development at the park, comprising two units of 40,877m2 (S440) and 19,050m2 (S205). Completion of these two units is expected in March 2025.
Panattoni Park Sittingbourne, which will total 71,437m2 on 14.57ha, is targeting net-zero carbon development with an expected BREEAM sustainability rating of ‘Excellent’ and an EPC rating of ‘A’. All units are to be developed with enhanced sustainability measures within the base specification, including the installation of roof-mounted photovoltaic panelling and electric vehicle charging points.
Panattoni Park Sittingbourne is strategically positioned between London and Dover, four miles north of junction 5 of the M2. The development provides convenient access to major national and international transport routes, with the port of Dover less than an hour away and easy connectivity to the M2, M20 and M25 motorways. Major occupiers in the area include Morrisons, Amazon, Evri and DHL.
Tony Watkins, Head of Development for the South East and London at Panattoni, said: “This expansion of our site at Sittingbourne reflects the attractiveness of the location, which is suffering from an acute supply-demand imbalance. It is part of our strategy to acquire land in undersupplied markets in London and the south east that offers value-add opportunities.”
Panattoni was advised by JLL. The vendor, GLP, was advised by Avison Young.
Image provided by TAVISTOCK.
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