Developer Panattoni has completed the purchase of a development on the M3 corridor near to Farnborough, south east of London.
Panattoni Farnborough 170 is the latest addition to the developer’s portfolio, having recently announced its commitment to three million sq ft of speculative builds in the UK this year.
The prime positioning of this 8.33 acre site, which will accommodate a building of 168,241sq ft within an established logistics location (previously the Benthalls Warehouse), means it will offer the occupier a rare opportunity for those looking to serve Europe’s largest consumer market.
Panattoni Farnborough 170 is adjacent to J4 of the M3 at Farnborough. Just a 15-minute drive to J12 of the M25, it has 15.6 million consumers within a 90-minute drive time. More than 60% of the UK is accessible within a 4.5 hours HGV drive time. It also sits within the top tier of locations, allowing delivery companies to reach millions of customers the same day.
Demolition of the old Benthalls unit is due to take place this month, with the building ready in Q3 of 2021. When completed the facility could generate over 170 employment opportunities.
The building will be built to a BREEAM rating of ‘Very Good’, with many sustainable credentials and an EPC rating of ‘A’. The facility will benefit from up to 2.5 MVa power. It will have 15m clear internal height, 12 dock doors, 9 level access doors for van deliveries, as well as extensive car parking, electric charging points and cycle spaces.
Tony Watkins, development director for Panattoni said: “This is a rare opportunity for the occupier to be near the excellent location of the M3 corridor region and be able to serve Europe’s largest consumer market. The specification of the building has been adapted to deliver on this ample power, loading provisions and direct M3 access. Panattoni Farnborough 170 will be delivered at speed, and the demolition of the Benthalls unit will shortly be underway on the site.
“There is high demand for this kind of building within this market and the 170,000 sq ft development offers a strong base for a variety of occupiers requiring excellent transport links,” he added.
TSL have been appointed main contractor on the site, and agents on the scheme are DTRE and Savills.
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