European logistics property developer Panattoni is working up plans for a speculative 80,000 sq ft (7,400 m2) last-mile logistics development in the sought-after West London catchment.
The net zero carbon development, which will be called Panattoni Poyle 80, is located at Heathrow, on a 3.2-acre brownfield site, which Panattoni has just acquired from CBRE Investment Management.
Panattoni is aiming to submit a planning application for the facility in the second quarter with a view to achieving practical completion in the second quarter of 2024. The facility will benefit from enhanced ESG credentials, including photovoltaic roof panels, and will be built to a BREEAM sustainability rating of ‘Excellent’ and an EPC rating of ‘A’.
The site acquisitions are part of Panattoni’s strategy for 2023, which will focus on speculative development in areas where there is a critical shortage of space and significant rental growth potential.
Tony Watkins, head of Development at Panattoni, said: ‘This is a rare opportunity to acquire a prime logistics site near Heathrow Airport [..]. We will continue to selectively purchase key development sites that offer value-add opportunities within core markets in London and the south east, where we can generate rental growth.’
Panattoni was advised by DTRE and CBRE Investment Management was advised by ACRE Capital Real Estate.
