Panattoni is drawing up plans for its biggest speculative logistics scheme in the UK, comprising two facilities in Yorkshire measuring 715,000 sq ft.
The developer is planning to build a 630,000 sq ft hub and a smaller 85,000 sq ft facility in Rotherham. These will be located on a 40-acre site, which Panattoni recently acquired from Stretton Denman.
A reserved matters planning application will be submitted in the next few weeks, with works expected to start in Q1 2022.
The development, called Interchange Park, will increase Panattoni’s speculative development programme to around 4.2m sq ft across eight locations in the North and Midlands, the largest of which are at South Normanton, Derby, Northampton and Crewe.
Local occupiers include Great Bear, Clipper Logistics, DX and FedEx.
Dan Burn, development director for the North West and Yorkshire at Panattoni, said: “Our continued appetite for speculative development reflects the strength of demand from occupiers for immediately available space. In the first quarter of this year, half of all take-up in the logistics sector was of speculative developments, driven by demand from e-commerce companies. And in the past 12 months alone, we have let more than six million sq ft of space.
“Having let our speculative Wakefield 515 development in May, we are delighted to have acquired this strategic site and look forward to bringing this nationally significant scheme forward over the coming months.”
M1 Agency, Legat Owen and Knight Frank have been appointed as the park’s letting agents.
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