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Pannattoni secures Coventry logistics site 

25 June 2024

Developer Panattoni has secured a 47-acre site to the north of Coventry to develop a new 600,000 ft2 logistics scheme. The price is undisclosed.

By Liza Helps Property Editor Logistics Matters

PANATTONI PLANS to build the £135 million net zero carbon logistics development called Panattoni Park Coventry, located on a site by Junction 3 of the M6 motorway, speculatively.

It will develop the largest unit of 540,000 ft2 and has the opportunity to develop two further units of 40,000 ft2 and 20,000 ft2.

It acquired the site from L&Q Estates following a call for best bids in November last year. There is an additional eight-acre parcel of land as part of the outline planning consent, which has been acquired by Taylor Wimpey to develop up to 73 homes of which 25% will be affordable.

It is thought Panattoni secured the site subject to the outcome  of a planning appeal which went in favour of L&Q estates last month. The initial submission for the plans which covered two local authorities, Nuneaton and Bedworth Council and Coventry Council, was only partially accepted, (by Nuneaton and Bedworth Council in March 2023) with smaller section of the wider scheme being rejected by Coventry Council’s planning committee members last October.

Following an appeal the planning inspector gave the go ahead for the scheme concluding that the proposed development would not unacceptably harm the living conditions and amenity of nearby residents. In  addition, the Inspector awarded L&Q Estates full costs against the council, citing the council’s unreasonable behaviour in not following the advice of its professional officers to approve the development.

L&Q Estates promoted the site, which was previously part of the greenbelt, through planning with the first scoping assessments taking place in 2019. A cross-boundary planning application to Nuneaton and Bedworth Borough Council and Coventry City Council was submitted in June 2020.

L&Q Estates Managing Director Adrian Clack, said: ““The site is perfectly situated for businesses involved in the logistics sector due to its proximity to the M6, which will help in turn to provide valuable employment opportunities and economic growth.”

The site acquisition is part of Panattoni’s strategy, which focuses on speculative development in areas where there is a critical shortage of space and significant rental growth potential. 

Panattoni Head of Development East and West Midlands Gregg Titley, said: “This is a rare opportunity for us to acquire a prime development site in the Golden Triangle. There is a lack of supply of large logistics units of 500,000 sq ft plus in the region, while demand remains strong”. 

L&Q Estates and the landowners were advised by Holt Property 

 
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