Panattoni draws up plans for Heathrow last-mile scheme
Panattoni is working up plans for a speculative 80,000 sq ft last-mile logistics development in Heathrow, West London.
The developer is aiming to submit a planning application for the facility in the second quarter, with practical completion targeted for Q2 2024. This comes after Panattoni bought the 3.2-acre brownfield site from CBRE Investment Management.
The net zero carbon development, which will be called Panattoni Poyle 80, is located close to junction 14 of the M25.
Panattoni is working up plans for a speculative 80,000 sq ft last-mile logistics development in Heathrow, West London.
The developer is aiming to submit a planning application for the facility in the second quarter, with practical completion targeted for Q2 2024. This comes after Panattoni bought the 3.2-acre brownfield site from CBRE Investment Management.
The net zero carbon development, which will be called Panattoni Poyle 80, is located close to junction 14 of the M25.
The facility will include photovoltaic roof panels and will be built to a BREEAM Excellent standards and boast an EPC rating of A.
Poyle is the second site in the South East to be acquired by Panattoni in the past three months, after it bought a 12-acre site at Brighton City Airport.
The site acquisitions are part of Panattoni’s strategy for 2023, which will focus on speculative development in areas where there is a critical shortage of space and significant rental growth potential.
Tony Watkins, head of development at Panattoni, said: “This is a rare opportunity to acquire a prime logistics site near Heathrow Airport, which will provide direct access to London. It will also drive forward our ESG agenda for occupiers which are looking to upgrade and future-proof their facilities.
“We will continue to selectively purchase key development sites that offer value-add opportunities within core markets in London and the South East, where we can generate rental growth.”
DTRE advised Panattoni on the purchase, while ACRE Capital Real Estate acted for CBRE Investment Management.
To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews
