Panattoni has commenced the development of Panattoni Park Luton. Located on one of the most prominent sites on the southern M1, and immediately adjacent to the newly built junction 11A, the scheme will benefit from fast access via the M1 to the A5 north of Dunstable. The development consists of two units, one of 345,000ft² and one of 69,000ft², with a GDV of €93.2m (£80m). The completion is expected for Q4 2019.
Luton is an established industrial and logistics location and has already attracted a variety of prestigious companies, with Panattoni’s development located immediately north of Vauxhall Motor’s logistics facility. Luton Airport is also just seven miles away and the site is within easy HGV drive times of major UK ports including Felixstowe, London Gateway, Southampton and Dover. In addition, there are proposals for a new link road from junction 11a of the M1 to the A6. This will improve the scheme’s access to the A1, bringing the east coast ports closer and opening up the East Midlands.
James Watson, Development Director of Panattoni UK, said: “We are dedicated to providing only the best quality buildings in the best locations and Panattoni Park Luton fulfils these ambitions. We expect to attract occupiers looking for a close connection to London, the Midlands and international markets – given the proximity of London Luton airport and easy HGV drive times to leading UK ports.”