Panattoni, the largest industrial real estate developer in Europe, today announced it was working up plans to develop its biggest-ever speculative logistics building in the UK, a 630,000 sq ft facility in Yorkshire.
The 630,000 sq ft facility will be built along with a smaller 85,000 sq ft facility by junction 1 of the M18 at Rotherham on a 40-acre site, which Panattoni has recently acquired from Stretton Denman. Panattoni is aiming to submit a reserved matters planning application in the next few weeks, with a view to beginning construction in the first quarter of 2022.
The 715,000 sq ft development, called Interchange Park, is part of Panattoni’s commitment to a significant speculative development programme in the UK in 2021 in response to strong demand from occupiers for immediately available space. The acquisition of Interchange Park increases the size of Panattoni’s current speculative development programme to around 4.2 million sq ft across eight locations across the North and Midlands, the largest of which are at South Normanton, Derby, Northampton and Crewe.
Interchange Park is located in an established distribution location, immediately adjacent to junction 1 of the M18 and just two miles from junction 32 of the M1. Local occupiers include Great Bear, Clipper Logistics, DX and FedEx.
Letting agents at Interchange Park are M1 Agency, Legat Owen and Knight Frank.
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