News: Huge Rotherham warehouse development now fully let
80,000 sq ft of prime logistics space at Panattoni Park Rotherham has been let to Alliance Automotive Group (AAG), the leading distributor of passenger and commercial vehicle parts that already occupies the large Hellaby development.
Panattoni secured planning permission for two facilities adjacent to junction 1 of the M18, one of 630,000 sq ft, which was one of the largest-ever speculative logistics buildings in the north of England, and a smaller 80,000 sq ft facility.
AAG signed a 25-year lease for the large facility in 2022 and has now comitted to the remaining unit on a long-term lease, expanding AAG’s existing presence to more than 710,000 sq ft and bringing the overall asset to 100% occupancy.
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. It is supported by a top-tier logistics network comprising over 850 outlets and distribution centres.
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Scott Meakin, Development Surveyor at Panattoni, said: “AAG taking the final unit is a strong conclusion to the development at Panattoni Park Rotherham. Having initially committed to the adjacent 630,000 sq ft building, their decision to expand into Rotherham 80 means AAG will now occupy the entire park. This reflects the continued growth of its UK operations, giving the business the scale and flexibility to support rising order volumes and deliver faster service to its customers across the UK.
“One of the strengths of our development platform is our ability to deliver across both the mid-box and big-box sectors. This gives our customers the opportunity to grow within the Panattoni portfolio as their requirements evolve, whether through larger facilities, additional neighbouring space, or a combination of the two.
“We remain committed to developing a range of unit sizes in the UK’s strongest logistics locations, giving occupiers the flexibility to expand, consolidate, and adapt their property requirements as their businesses grow.”
Steve Richardson, Managing Director AAG Group UK & Ireland, said: “AAG are pleased to have worked with Panattoni to expand our presence at the Rotherham location, securing additional capacity for the continued growth of our distribution operations. Taking the full campus helps us further strengthen our network efficiency and expands our future growth capabilities.
“Most importantly, this investment reinforces our commitment to customers. By increasing capacity and streamlining our distribution network, we will be better positioned to offer market leading product availability, support dependable deliveries and provide the high level of service our customers rely on.”
In July, Europa, the pan-European real estate investment manager, secured an £89.1m green loan from HSBC UK to finance two recently developed and stabilised UK logistics assets in prime locations along the M1 distribution corridor - Panattoni Park Rotherham and Panattoni Park South Normanton.
James Keast, Director at Europa, said: “AAG’s further expansion at Panattoni Park Rotherham is a strong endorsement of the asset, its location and the quality of the occupier experience we seek to provide across the portfolio. It is encouraging to see an existing customer commit to additional space, and ultimately the entire park, demonstrating the long-term appeal of well-specified logistics assets which reinforces our conviction in the sector as a key driver of sustainable income growth for the Fund.”
AAG UK website
Panattoni website
Euopra Capital website
Images: Europa / AAG
Panattoni secured planning permission for two facilities adjacent to junction 1 of the M18, one of 630,000 sq ft, which was one of the largest-ever speculative logistics buildings in the north of England, and a smaller 80,000 sq ft facility.
AAG signed a 25-year lease for the large facility in 2022 and has now comitted to the remaining unit on a long-term lease, expanding AAG’s existing presence to more than 710,000 sq ft and bringing the overall asset to 100% occupancy.
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. It is supported by a top-tier logistics network comprising over 850 outlets and distribution centres.
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Scott Meakin, Development Surveyor at Panattoni, said: “AAG taking the final unit is a strong conclusion to the development at Panattoni Park Rotherham. Having initially committed to the adjacent 630,000 sq ft building, their decision to expand into Rotherham 80 means AAG will now occupy the entire park. This reflects the continued growth of its UK operations, giving the business the scale and flexibility to support rising order volumes and deliver faster service to its customers across the UK.
“One of the strengths of our development platform is our ability to deliver across both the mid-box and big-box sectors. This gives our customers the opportunity to grow within the Panattoni portfolio as their requirements evolve, whether through larger facilities, additional neighbouring space, or a combination of the two.
“We remain committed to developing a range of unit sizes in the UK’s strongest logistics locations, giving occupiers the flexibility to expand, consolidate, and adapt their property requirements as their businesses grow.”
“Most importantly, this investment reinforces our commitment to customers. By increasing capacity and streamlining our distribution network, we will be better positioned to offer market leading product availability, support dependable deliveries and provide the high level of service our customers rely on.”
In July, Europa, the pan-European real estate investment manager, secured an £89.1m green loan from HSBC UK to finance two recently developed and stabilised UK logistics assets in prime locations along the M1 distribution corridor - Panattoni Park Rotherham and Panattoni Park South Normanton.
James Keast, Director at Europa, said: “AAG’s further expansion at Panattoni Park Rotherham is a strong endorsement of the asset, its location and the quality of the occupier experience we seek to provide across the portfolio. It is encouraging to see an existing customer commit to additional space, and ultimately the entire park, demonstrating the long-term appeal of well-specified logistics assets which reinforces our conviction in the sector as a key driver of sustainable income growth for the Fund.”
AAG UK website
Panattoni website
Euopra Capital website
Images: Europa / AAG
2 comments:
This warehouse opening, the existing warehouse and if the planned housing across from them gets the go-ahead, the exit off Cumwell Lane onto Bawtry Road will be fun!
I wonder how Cumwell Lane got its name. For some reason they changed the name from Firingblanks Avenue
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