Panattoni expands Essex mid box warehouse scheme
Active industrial and logistics developer Panattoni has acquired an additional 10-acre plot at Horizon 120 Business Park in Braintree to deliver the next phase of its Panattoni Braintree scheme which it acquired last year.
By Liza Helps, Property Editor, Logistics Matters
PANATTONI PARK Braintree 2.0 will deliver an additional 164,000 ft2 across six units, all speculatively built in what Panattoni said is a “response to sustained occupier demand in the South East of England”.
Full detailed planning consent for the circa £50 million scheme has already been secured, allowing the developer to begin construction later this year. Practical completion is expected late next year.
The new plot purchase follows 12 months after the launch of the initial phase, which comprises four units, one of which is already under construction. The additional development brings the total scheme size to some 750,000 ft2.
Panattoni, Head of Development – Southern England & London James Watson said: “This acquisition represents an important next step in our long-term commitment to Braintree and the wider Essex logistics market. The area remains significantly undersupplied, particularly for occupiers seeking high-quality, sustainable accommodation within close proximity of Stansted Airport and the M25. Panattoni Park Braintree 2.0 will enable us to deliver additional capacity to meet that demand, continuing the successful rollout of our speculative development strategy.”
The buildings will be constructed to BREEAM ‘Excellent’ and EPC ‘A’ standards, with flexibility for semi-detached units to be combined into larger configurations if required.
Joint agents are CBRE and Coke Gearing.
