News: Automotive group to take massive new Rotherham warehouse
Work has only just begun on a massive new warehouse in Rotherham but the speculative development already has a tenant.
Alliance Automotive Group UK (AAG UK) has partnered with Europa Capital and Panattoni, Europe’s leading logistics developer, to build their new distribution centre.
Panattoni secured planning permission for two facilities adjacent to junction 1 of the M18 at Hellaby, one of 630,000 sq ft, which will be one of the largest-ever speculative logistics buildings in the north of England, and a smaller 80,000 sq ft facility.
AAG has signed a 25-year lease for the facility.
AAG UK, acquired by the American Genuine Parts Company in 2017, supply light and commercial vehicle parts to over 36,000 independent garages, franchise networks and public services throughout the UK.
Steve Richardson, AAG’s Managing Director said: “We’re delighted to partner with Europa Capital and Panattoni to secure this new facility for our FPS business. We’ve experienced significant growth since acquiring FPS in 2016 and this investment not only allows us to consolidate our 3 existing facilities in Sheffield, but also forms part of our wider programme to strengthen our distribution infrastructure to ensure we are prepared for future growth.
"This will be a purpose built, state of the art facility, integrating best in class logistics operations with advanced technologies to put us at the forefront of aftermarket distribution. As we move forward customers can expect an even wider product offering alongside market leading service and support. It’s an exciting next step in our journey and we expect the new facility to be operational in the first quarter of 2025”.
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Dan Burn, Head of Development for the North West and Yorkshire at Panattoni, said: “This major pre-let to AAG endorses our continuing commitment to a significant speculative development programme across the UK and our continued confidence in the logistics sector. We look forward to working with AAG over the coming months as we bring significant investment and employment opportunities to Rotherham”.
Rachel Hanke, Managing Director and Value Add Fund Manager at Europa Capital, commented: “Despite current headwinds, securing a pre-let with a tenant such as AAG at an early stage of construction is a testament to the resolve of the asset management team and strength of the fundamentals in the sector, especially for high-quality assets such as the Rotherham logistics park. We continue to experience a good level of occupier interest in the remaining unit and are focused on letting up this space.”
Letting agents are M1 Agency, Legat Owen and Knight Frank.
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Matt Pochin, Director at Legal Owen, said: "We were always extremely confident in the sites’ location during the acquisition process, so to have secured an effective pre-let of this scale underpins our advice and Panattoni’s commitments to Rotherham and Junction 1 M18."
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AAG UK website Panattoni website
Images: Cow & Cream / Facebook
Alliance Automotive Group UK (AAG UK) has partnered with Europa Capital and Panattoni, Europe’s leading logistics developer, to build their new distribution centre.
Panattoni secured planning permission for two facilities adjacent to junction 1 of the M18 at Hellaby, one of 630,000 sq ft, which will be one of the largest-ever speculative logistics buildings in the north of England, and a smaller 80,000 sq ft facility.
AAG has signed a 25-year lease for the facility.
AAG UK, acquired by the American Genuine Parts Company in 2017, supply light and commercial vehicle parts to over 36,000 independent garages, franchise networks and public services throughout the UK.
Steve Richardson, AAG’s Managing Director said: “We’re delighted to partner with Europa Capital and Panattoni to secure this new facility for our FPS business. We’ve experienced significant growth since acquiring FPS in 2016 and this investment not only allows us to consolidate our 3 existing facilities in Sheffield, but also forms part of our wider programme to strengthen our distribution infrastructure to ensure we are prepared for future growth.
"This will be a purpose built, state of the art facility, integrating best in class logistics operations with advanced technologies to put us at the forefront of aftermarket distribution. As we move forward customers can expect an even wider product offering alongside market leading service and support. It’s an exciting next step in our journey and we expect the new facility to be operational in the first quarter of 2025”.
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Dan Burn, Head of Development for the North West and Yorkshire at Panattoni, said: “This major pre-let to AAG endorses our continuing commitment to a significant speculative development programme across the UK and our continued confidence in the logistics sector. We look forward to working with AAG over the coming months as we bring significant investment and employment opportunities to Rotherham”.
Rachel Hanke, Managing Director and Value Add Fund Manager at Europa Capital, commented: “Despite current headwinds, securing a pre-let with a tenant such as AAG at an early stage of construction is a testament to the resolve of the asset management team and strength of the fundamentals in the sector, especially for high-quality assets such as the Rotherham logistics park. We continue to experience a good level of occupier interest in the remaining unit and are focused on letting up this space.”
Letting agents are M1 Agency, Legat Owen and Knight Frank.
/
Matt Pochin, Director at Legal Owen, said: "We were always extremely confident in the sites’ location during the acquisition process, so to have secured an effective pre-let of this scale underpins our advice and Panattoni’s commitments to Rotherham and Junction 1 M18."
/
AAG UK website Panattoni website
Images: Cow & Cream / Facebook
3 comments:
It should never have been allowed to be built in the first place but at least it's going to get used rather than ruining the area for nothing which I think a lot of people feared would happen.
Cant wait for the additional pollution this will bring to kill my kids!
More traffic
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