Real estate developer Panattoni has acquired a site near Brighton for a 257,000sq ft speculative logistics development.
Panattoni Park Brighton is on a 12-acre site within the boundary of Brighton City Airport and with access onto the A27.
Speculative development of the park is due to start in the first quarter of 2023, with completion expected in the fourth quarter.
It will consist of seven units, ranging from 19,000 sq ft to 71,495 sq ft, which will be built to a targeted BREEAM rating of ‘Excellent’ and an EPC rating of ‘A’.
Tony Watkins, Panattoni head of development for the south east and London, said it had achieved the acquisition in a very supply-constrained market: “We continue to look for opportunities to acquire land, given that the need from occupiers for the development of new facilities remains great,” he added.
“Logistics still has value and we retain our strong commitment to the sector.”