Panattoni has acquired a prime c. 26.3-ha site on the Nottinghamshire/Yorkshire border with planning consent for more than c. 11.1ha.
The two-phase development, called Panattoni Central A1(M), by junction 34 of the A1(M), has been acquired from Mulberry Developments in an off-market deal. Panattoni will commence construction of what will be the largest-ever speculative logistics unit in the north of England, a building of 71,535m2 in the autumn. Practical completion is expected in September 2025.
Panattoni is targeting net-zero carbon development, an EPC rating of ‘A’ and a BREEAM ‘Outstanding’ sustainability rating – its second development in the UK with an ‘Outstanding’ rating this year. The cross-docked unit will benefit from 18m eaves, 55m service yards, EV van and car charging and 15% rooflights. Winvic Construction has been appointed as the contractor.
The remaining c. 11-ha plot, which already benefits from reserved matters planning consent for a 42,735m2 building, will initially be marketed on a build-to-suit basis.
Panattoni 770 Central A1(M) is in a strategic location with easy access to local and national distribution routes, including the A1(M), M1 and M62 as well as the east coast ports. Major distribution occupiers in the immediate vicinity include Culina, B&Q, Butternut Box and Daher Aerospace.
Dan Burn, Head of Development North West & Yorkshire at Panattoni, said: “This is a fantastic opportunity for us to acquire a prime logistics site in an established location by the A1(M). The development provides us with the opportunity to capitalise on the dearth of supply of XXL units across the country.”
Panattoni was advised by Cushman & Wakefield and Mulberry Developments was advised by M1 Agency.
Image provided by TAVISTOCK.
Europe Real Estate — an overview of real estate developments in European countries.
