Panattoni, the largest developer in Europe, has completed the purchase of a development on the M3 corridor near to Farnborough, south east of London.
Financial details were not disclosed.
Panattoni Farnborough 170 is the latest addition to the developer’s portfolio, having recently announced its commitment to three million ft2 of speculative builds in the UK this year.
The 8.33 acre site will accommodate a building of 168,241 ft2 within an established logistics location, replacing what was the Benthalls Warehouse.
Tony Watkins, development director for Panattoni said: 'This is a rare opportunity for the occupier to be near the excellent location of the M3 corridor region and be able to serve Europe’s largest consumer market.
'The specification of the building has been adapted to deliver on this ample power, loading provisions and direct M3 access. Panattoni Farnborough 170 will be delivered at speed, and the demolition of the Benthalls unit will shortly be underway on the site.'
Demolition of the old Benthalls unit is due to take place this month, with the building ready in Q3 of 2021.
The building will be built to a Breeam rating of ‘Very Good’, with many sustainable credentials and an EPC rating of ‘A’. The facility will benefit from up to 2.5 MVa power.
It will have 15m clear internal height, 12 dock doors, 9 level access doors for van deliveries, as well as extensive car parking, electric charging points and cycle spaces.
'There is high demand for this kind of building within this market and the 170,000 sq ft development offers a strong base for a variety of occupiers requiring excellent transport links,' added Watkins.
TSL has been appointed main contractor on the site, while agents on the scheme are DTRE and Savills.
