Panattoni, an industrial and logistics developer in Europe, has acquired a prime 30 acre site in Slough to develop an industrial led scheme. The purchase price was not disclosed.
The developer has purchased the former ICI paintworks site in Wexham Road from AkzoNobel.
The site is located two miles east of the Slough Trading Estate, home to several blue-chip occupiers including Mars, Telefonica O2, Ferrari, UK Mail, Lanes Group and UCB.
It is positioned in the prime west London corridor, within minutes of the M4 and M25, giving fast access to both Central London and Heathrow.
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“Slough is going through a significant period of growth and there is an acute lack of space for commercial occupiers. There is now very limited opportunity for expansion in the Slough Trading Estate and we have already been approached by a number of parties looking to move,” said Tony Watkins, Panattoni’s Development Director.
“To bring forward a site of this nature takes experienced and committed counterparties to reach an agreement. We would like to thank AkzoNobel for their constructive and collaborative approach, which was critical to concluding the transaction,”said Matthew Byrom; Panattoni’s UK Managing Director.
“The market fundamentals of our sector and the region mean we have a continued appetite for further development opportunities in the UK and we look forward to making a number of further announcements shortly,” Matthew Byrom added.