Panattoni has started construction of a speculative 45,000m² state-of-the-art logistics complex on an old industrial brownfield site in Beauvais, to the north of Paris, together with French property developer ADM. The total investment volume of Panattoni’s third development project in France is around €40m. The construction materials of the existing buildings will be recycled where possible and a Very Good BREEAM sustainability certification is being targeted. The site’s existing biodiversity will be protected with a view to achieving a BiodiverCity® label. Delivery of the complex is scheduled for the summer of 2023.
Salvi Cals, Managing Director of Panattoni France, said: "This redevelopment is the only large logistics facility under construction in the Ile-de-France region north of Paris. Redevelopments are generally completed in shorter timeframes than new-build developments, are located near urban agglomerations and labour, and benefit from existing infrastructure. At the moment we see low vacancy rates in the Paris logistics real estate market, confined to around 2%, and this project demonstrates the ability of the Panattoni France team to revitalize a brownfield site with an integrated environmental approach in a record space of time."
Marceau Pinault, CEO and Founder of ADM, said: "This redevelopment project which we are co-developing with Panattoni exemplifies our unique strategy in the French market, which is based exclusively on the regeneration of obsolete industrial sites at the end of their lifecycle. This example of urban revitalisation will offer a state-of-the-art logistics facility in an attractive, densely populated region without the need to sacrifice a greenfield location."