Panattoni has obtained planning approval for an 80,000 sq ft last-mile logistics project in the coveted Heathrow region.
Panattoni will commence speculative development in January 2024 of Panattoni Poyle 80, a net zero carbon development that will be built to a BREEAM sustainability rating of ‘Excellent’ and an EPC rating of ‘A’.
This achievement follows their acquisition of the site in early 2023. Completion is expected in the third quarter of 2024.
Panattoni Poyle 80 is strategically located on Horton Road near junction 14 of the M25. Poyle is one of Greater London’s most established logistics locations, offering direct access to the M25 and close proximity to Heathrow Airport’s passenger and cargo terminals alongside convenient last-mile connectivity with Europe’s largest consumer market, London.
Panattoni Poyle 80 is one of three significant sites in the south east that Panattoni has acquired this year for a combined £350 million, providing value-add development opportunities in core markets, where Panattoni can drive rental growth.
Alex Mitchell, Development Manager, South East and London, at Panattoni, said: “Panattoni Poyle 80 is a rare ultra-urban, last-mile opportunity, providing immediate access to the UK’s largest cargo terminal at Heathrow Airport, and is one of very few opportunities available in this market.
“The development of Panattoni Poyle 80 reaffirms our ongoing commitment to our speculative development programme and the broader logistics sector, which continues to benefit from strong occupier demand for well-located, high-quality assets with enhanced sustainability credentials. We have been encouraged by early interest and look forward to starting this development next year”.
Stephen Vickers, Commercial Delivery Director at Panattoni, said: “We are pleased to be moving forward on the delivery of the new site, with planning now secured to deliver a sustainable facility for occupiers. Panattoni has reviewed the supply chain to make sure we are reducing our carbon output and delivering a net zero carbon development in construction. The facility will deliver a highly sustainable scheme to an excellent specification in a desired prime location”.
Click here to receive CRE Herald’s weekly newsletter, news alerts and insights!
