Panattoni scores third Kent logistics scheme

By Liza Helps Property Editor Logistics Matters

THE DEVELOPER has acquired a 644,549 ft2 last-mile logistics scheme in Swale, from Abrdn which it will develop out specuklatively.

To be known as Panattoni Park Sittingbourne, the 26.1-acre plot has planning for two units of 439,228 ft2 and 205,320 ft2 respectively which will be built net zero carbon.

Panattoni's head of development for the South East and London Tony Watkins, said: "This third Kent acquisition exemplifies our dedication to a forward-thinking sustainable development plan in locations that offer direct access to the London market, facilitating robust rental growth.

"Panattoni will bring forward the development in the coming months, ready for practical completion next year, aiming to plug the gap in the lack of large logistics and distribution facilities.

"We will continue to selectively purchase key developments that offer value-added opportunities within core markets in London and the South East, where we can drive rental growth."

Panattoni  also has its 1.6 million ft2 Panattoni Park Ayelsford which is now fully let as well as an eight acre site in Wrotham near Sevenaoks.

The site is four miles from Junction 5 of the M2 motorway.

JLL acted for Panattoni while Abrdn was advised by Avison Young and Savills.