Panattoni, the largest logistics real estate developer in the UK and Europe, has begun speculatively developing 1.3 million sq ft of logistics space, which will include the UK’s largest-ever speculative logistics building, in Avonmouth, Bristol.
The £280 million development, Panattoni Park Avonmouth, comprises of two units a 406,000 sq ft and 882,000 sq ft. The larger of the two will be the UK’s largest-ever speculatively built warehouse. Both units are being built in one phase and are expected to be completed in September 2023. ISG has been appointed main contractor.
The units will be built to a targeted BREEAM rating of ‘Excellent’ and an EPC rating of ‘A’ and benefit from extensive 50m yards, 17m + clear internal heights, generous car and lorry parking, and 8MVA of power.
Panattoni Park Avonmouth is strategically positioned for local and national distribution, London and the wider south east markets, Avonmouth Docks, Royal Portbury Docks, Bristol Airport, Avonmouth Rail Freight Terminal and Bristol Parkway train station, given the quick access to both the M4 and M5 motorways. The development is located close to leading logistics occupiers such as Amazon, DHL, The Range, TESCO and Lidl.
James Watson, Head of Development Southern England & London, Panattoni UK, said: “We closed the purchase of this site despite the current macro-economic challenges, but have conviction the logistics occupier market will continue to perform. Our continued commitment to the ‘big box’ market is shown with this being the largest speculative development in the UK. We are glad to be on-site with construction, providing much-needed space for such a supply constrained market. Practical Completion of Panattoni Park Avonmouth is September 2023.”
Robert Dobrzycki, CEO & Co-owner Panattoni Europe and India, said: “Developing the largest-ever speculative logistics building in the UK is testament to our global strategy of scaling up our developments at the highest level of quality and reflects our continuing confidence in the logistics sector as well as our desire to provide much-needed space for our international client base. Quality and a proven investment model – not just price competitiveness – are becoming our distinguishing factors in the real estate market.”