Logistics real estate developer Panattoni is planning a £135m speculative logistics development in Coventry.

The net zero carbon development, called Panattoni Park Coventry, will be located on a 47-acre site close to the M6.

The site, which Panattoni recently acquired from L&Q Estates, has outline planning consent for 600,000sq ft of logistics space.

Panattoni will develop the largest unit of 540,000sq ft and has the opportunity to develop two further units of 40,000 sq ft and 20,000 sq ft.

Panattoni Park Coventry is located in the logistics Golden Triangle, adjacent to junction three of the M6 and with good communication links to the M1 and M69 motorways. There is an additional eight-acre parcel of land as part of the outline planning consent, which has been acquired by Taylor Wimpey.

The developer said the site acquisition is part of Panattoni’s strategy, which focuses on speculative development in areas where there is a critical shortage of space and significant rental growth potential.

Gregg Titley, Panattoni head of development East and West Midlands, said: “This is a rare opportunity for us to acquire a prime development site in the Golden Triangle.

”There is a lack of supply of large logistics units of 500,000sq ft plus in the region, while demand remains strong.”

Panattoni Coventry CGI[77276]

Panattoni Coventry CGI[77276]

L&Q Estates and the landowners were advised by Holt Property