VPark

Industrial developer Panattoni is fast-tracking plans to open three new carbon zero warehouses in Basingstoke by next summer, predicting the development could create 215 full-time jobs.

Panattoni and Legal & General’s Industrial Property Investment Fund (IPIF) has bought an 11-acre site at V Park Basingstoke, which will accommodate three net carbon zero warehouses of 40,209 sq ft, 77,548 sq ft, and 96,302 sq ft, respectively.

The developer is promising the units will be "delivered at speed" and ready to be opened by the end of the second quarter of 2022.

The site is two miles from both the centre of Basingstoke and J6 of the M3 motorway. Unit One will have a total of 40,209 sq ft, with 12.5m clear internal height, 2 dock doors, 3 level access doors, 30 car parking spaces, and 5 HGV trailer spaces whilst Unit Two will offer 77,548 sq ft, with 12.5m clear internal height, 8 dock doors, 2 level access doors and space for 57 cars and 22 HGV trailers.

The third warehouse, Unit Three, will provide 96,302 sq ft, with 12.5m clear internal height, 8 dock doors, 3 level access doors and space for 72 cars and 28 HGVs, according to Panattoni.

The buildings will be built to a BREEAM rating of ‘Very Good’, and will have an EPC rating of ‘A’. They will also be designed to promote energy-efficient and low carbon operation, with 100% LED sensored lighting, 15% roof lights, and extensive electric vehicle charging points.

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In a statement this week, Panattoni said the site is in a prime location for the M3 corridor: "It is well-positioned on a pre-existing motorway access infrastructure route to take advantage of regional axis routes including the M25, A34, M27, and M4.

"It also has two million people living within 45 minutes by van. Almost 60% of the UK is accessible within a 4.5-hour HGV journey, offering the ability for delivery companies to reach millions of customers the same day."

Oliver Bertram, Panattoni development director,  added: "This location has excellent links to the M3 corridor which serves Europe’s largest consumer market. We are proud to start this new development which we believe will be in high demand. The Park is committed to deliver sustainable and future-proofed net carbon zero units allowing our tenants to benefit from the efficiency.

"V Park Basingstoke is being delivered at speed and we are looking forward to completing these ready for occupation by the end of Q2 2022. Demolition of the former Motorola factory is set to start in June this year. Once completed, the facilities could generate over 215 full time jobs.”

Jonathan Holland, senior fund manager of IPIF at LGIM Real Assets, said: “This new acquisition forms part of our investment strategy adding to our London and South East portfolio. With high demand in this strategically important location from e -commerce and last-mile occupiers, we believe this will be an excellent long-term opportunity."

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