European industrial real estate developer Panattoni has acquired an industrial site in Beauvais, near Paris, which is to be entirely revitalised in its first joint development with brownfield specialists ADM.
Financial details were not disclosed.
The 15 ha former production and storage site for automobile spare parts, located on the edge of the Ile-de-France region, comprises 10 ha of industrial site and 5 ha of agricultural and natural land.
The buildings, which fell into disuse several years ago, are to be demolished and recycled in situ this coming winter and the industrialised area is to be remediated. The whole project is to be carried out and developed by ADM and Panattoni.
Salvi Cals, managing director of Panattoni France, said: 'With this first project in collaboration with ADM, we have the opportunity to demonstrate the efficiency of Panattoni’s decision-making and our ability to work in a partnership.
'Our development strategy prioritises projects with a low environmental footprint, and brownfields allow us to tick all the necessary boxes for this.'
The disused buildings will give way to a new 45,000 m2, state-of-the-art logistics centre, developed with in a sustainable manner, with features designed for optimal environmental efficiency.
The target is to achieve BREEAM ‘Very Good’ accreditation for this logistics centre, whose construction will be launched in summer 2022.
Marceau Pinault, founder of ADM, said: 'This joint development with Panattoni is a reference project for ADM. It exemplifies the positioning and strong convictions that inspired the founding of ADM.
'Our strategy is to rehabilitate and convert derelict sites that have reached the end of their previous life-cycles, through real estate projects with high added-value. We hold these convictions for sustainable (re)development as a solution to the urban sprawl blighting our natural and agricultural areas.'
The parties were advised by JLL.
'In a context of scarcity of supply, the revitalisation of industrial wasteland makes it possible to develop an adapted land supply by responding to new environmental challenges,' added Fabrice Basnier, director of logistics transactions, SCLS, JLL France.
