Speculative warehouse for Heathrow area
08 February 2024
Logistics real estate developer Panattoni has begun speculatively developing a 78,908 ft2 last-mile logistics development in the sought-after Heathrow area in the Southeast.
By Liza Helps Property Editor Logistics Matters
KNOWN AS Panattoni Poyle 80, the facility is being built as a net zero carbon development targeting a BREEAM Excellent and an EPC A rating. The building will have 68,9000 ft2 of warehouse space as well as 8,646 ft2 first floor Cat A offices. The warehouse will have 12.5 m eaves, five dock and two level access doors as well as 500KvA of power. Contractor Winvic expects to see practical completion in the third quarter of 2024.
Panattoni Development Manager, South East & London Alex Mitchell, said: “Early interest in the development demonstrates strong occupier demand for the highest quality logistics space in well-connected locations. We are looking forward to completing the development later this year as we continue to execute our speculative development programme”.
The 3.2 acre brownfield site was purchased from CBRE Investment Management in the first quarter of 2023. It is located on Horton Road near junction 14 of the M25 motorway. It was one of a plethora of site acquisitions by Panattoni last year which saw the developer spend £350 million. Other site acquisitions included a site in Milton Keynes to deliver two speculative units of 350,000 sq ft and 450,000 ft2 as well as a 26-acre site in Sittingbourne Kent which has planning for two units of 439,228 ft2 and 205,320 ft2. Panattoni acquired the Sittingbourne site from Abrdn. Panattoni were advised by JLL on the deal while Avison Young and Savills acted for Abrdn.
Agents at Panattoni Poyle 80 are DTRE and ACRE Capital Real Estate.