Panattoni and Newport Logistics Fund to develop major facility in Milton Keynes

The partnership has just acquired the five-acre development site at Yeomans Drive im Milton Keynes from Tesa UK, the former occupier.

Panattoni will submit a detailed planning application for the development, to be known as Panattoni Milton Keynes 100, in the second quarter.

The development is the first for Newport Logistics Fund III, a pan-European fund which is part of the Panattoni Group and which was launched last August to finance the development, leasing and sale of modern, sustainable logistics properties.

All Newport projects meet strict sustainability standards with each facility designed in accordance with ESG goals and Article 8 of the EU SFDR regulation. In addition, all projects will be BREEAM certified, or to an equivalent standard.

Szymon Ostrowski, Newport Logistics Fund MD, said: “This first development for Newport Logistics Fund III reflects our commitment to creating sustainable, high-quality logistics assets in key European markets.

“Milton Keynes is a prime location with strong occupier demand, and this investment aligns perfectly with our strategy to deliver modern facilities that meet evolving ESG standards and generate attractive returns for our investors.”

James Watson, Panattoni head of development, Southern England & London, added: “Panattoni is offering clients modern, high-quality, sustainable space in a prime location. This investment aligns with our strategy to deliver best-in-class facilities to meet occupier demand.” 

Panattoni and Newport Logistics Fund III were advised by Savills on the acquisition.