Panattoni has acquired a prime logistics site near Heathrow Airport to develop a speculative 80,000 sq ft last-mile logistics project.
The net zero carbon development, which will be called Panattoni Poyle 80, is located west of London Heathrow and close to junction 14 of the M25 on a 3.2-acre brownfield site, which Panattoni has just acquired from CBRE Investment Management.
Panattoni is aiming to submit a planning application for the facility in Q2 2023, with a view to achieving practical completion in Q2 2024. The facility will benefit from enhanced ESG credentials, including PV roof and be built to BREEAM ‘Excellent’ with an EPC A rating.
Poyle is the second South East site to be acquired by Panattoni in the last 3 months, following a 12-acre site at Brighton City Airport. The site acquisitions are part of Panattoni’s strategy for 2023, which will focus on speculative development in areas where there is a critical shortage of space and significant rental growth potential.
Tony Watkins, Head of Development at Panattoni, said: “This is a rare opportunity to acquire a prime logistics site near Heathrow Airport, which will provide direct access to London; it will also drive forward our ESG agenda for occupiers who are looking to upgrade and future proof their facilities”. Tony adds “…we will continue to selectively purchase key developments that offer value-add opportunities within core markets in London and the South East, where we can drive forward rental growth”.