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Logistics real estate developer Panattoni has let the final two units totalling more than 800,000ft2 at its 1.7 million ft2 Panattoni Park Northampton [.]
Panattoni and Legal & General’s Industrial Property Investment Fund (IPIF) are to speculatively develop a three-unit warehouse scheme in Basingstoke after acquiring an 11-acre site.
The new scheme on the former Motorola factory site, will accommodate three net carbon zero warehouses of 40,209 ft2, 77,548 ft2 and 96,302 ft2.
Known as V Park, the mid-box scheme is only two miles from both the centre of Basingstoke and Junction 6 of the M3 motorway.
Oliver Bertram, Development Director at Panattoni, said:
“V Park Basingstoke is being delivered at speed and we are looking forward to completing these ready for occupation by the end of Q2 2022. Demolition of the former Motorola factory is set to start in June this year. Once completed, the facilities could generate over 215 full time jobs.”
Panattoni is set to start work on the second phase of its 1.6 million sq ft industrial park in Northampton with the development of three further units totalling more than 1 million sq ft
This next phase sees the development of a 250,000 sq ft, a 380,000 sq ft and a 430,000 sq ft, at the park. The first phase saw Panattoni successfully speculatively develop and let 625,000 sq ft of space to Eddie Stobart Logistics.
Winvic Construction has begun construction on the three new spec units, which will be developed over two phases, the first being units 250,000 sq ft and 430,000 sq ft with steels emerging in the coming weeks. Finally, the 380,000 sq ft which will commence later in 2021.