Thursday, June 24, 2021

News: Leading developer buys Hellaby site

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Panattoni, the largest industrial real estate developer in Europe, is taking forward plans for a huge distribution centre development alongside the M18 motorway in Rotherham - its biggest-ever speculative logistics building in the UK.

Outline plans were approved for "Interchange Park" at Hellaby last year and applicants said that it could be home to over 1,000 jobs.

Those applicants, Stretton Property Group, has now sold the 40 acre site to Panattoni for an undisclosed sum.

Founded in the USA in 1986, Panattoni has grown to become the world’s largest privately owned industrial developer.

The outline plans enable a 630,000 sq ft facility to be built along with a smaller 85,000 sq ft facility by junction 1 of the M18. Panattoni said that it is aiming to submit a reserved matters planning application in the next few weeks, with a view to beginning construction in the first quarter of 2022.

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The development is part of Panattoni’s commitment to a significant speculative development programme in the UK in 2021 in response to strong demand from occupiers for immediately available space. The acquisition of Interchange Park increases the size of Panattoni’s current speculative development programme to around 4.2 million sq ft across eight locations across the North and Midlands, the largest of which are at South Normanton, Derby, Northampton and Crewe.

Dan Burn, development director for the North West and Yorkshire at Panattoni, said: "Our continued appetite for speculative development reflects the strength of demand from occupiers for immediately available space. In the first quarter of this year half of all take-up in the logistics sector was of speculative developments, driven by demand from e-commerce companies. And in the last 12 months alone, we have let more than 6 million sq ft of space.

"Having let our speculative Wakefield 515 development in May, we are delighted to have acquired this strategic site and look forward to bringing this nationally significant scheme forward over the coming months."

Letting agents at Interchange Park are M1 Agency, Legat Owen and Knight Frank.

Panattoni website

Images: Panattoni

2 comments:

Anonymous,  June 25, 2021 at 2:51 AM  

Destruction of environment for no reason,I've seen these warehouse developments all over country ,many standing empty long after being built,theres a large one just up road from Hellaby near junction 4 M18 being stood empty since being built bout 2 years ago.Planning permission shouldn't be given if there's no name of a client to take finished warehouse.

Anonymous,  June 25, 2021 at 5:32 PM  

Green spaces for the town centre and this abomination for the residents of Hellaby and Bramley. Great!

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