Developer Panattoni has bought a 31-acre site at junction 28 of the M1 in response to “strong demand” for warehousing in the area.
The site will house two new build warehouses, due to be completed by the end of 2022.
Dubbed Panattoni Park J28 Central M1, this is the latest addition to the developer’s portfolio and follows its pledge to develop three million sq ft of speculative builds in the UK this year.
The new site will accommodate two warehouses, a 345,000 sq ft and 230,000 sq ft unit, which are set to be completed in the final quarter of 2022.
- Panattoni set to develop 170,000sq ft logistics site near Farnborough
- Panattoni to develop another major spec warehouse at Derby Commercial Park
- Three new units to be built at Panattoni Park in Northampton
Both buildings at Panattoni Park J28 will be built to a BREEAM rating of ‘Very Good’, an EPC rating of ‘A’ and have 15m clear internal height and 50m yards.
Unit One will total 343,185 sq ft, while Unit Two will have 231,068 sq ft of warehouse space. Both will include office and hub spaces.
Work is expected to start at the site in Q1, 2022, which the developer says will create over 900 jobs.
Andy Preston, development manager at Panattoni said: “We are delighted to announce this acquisition in this established location, which is positioned on the A38 trunk route just a three minutes' drive to J28 of the M1.
“We are seeing strong demand for Grade A accommodation across the whole of the Midlands currently, and see Panattoni Park J28 as a perfect fit within our expanding portfolio, which currently includes sites at Derby, Nottingham and EMDC,” he added.