23rd March 2018
First Panattoni has broken ground on Panattoni Park Nottingham, where it will speculatively build three warehouses totalling 714,000 sq ft as part of plans for over 3m sq ft of spec development in 2018.
The first two units (of 89,000 sq ft and 75,400 sq ft respectively) will be available for occupation in October, with the third and largest unit aimed at the major regional and national distribution market being a 550,000 sq ft cross docked unit which is due for completion in Q1 2019.
First Panattoni Development Director, Simon Jenkins, and John Proctor of FHP Property Consultants were joined by Nottingham County Councillor and Chairman of Broxtowe Borough Council’s Jobs and Economy Committee, Tony Harper, and Mayor of Broxtowe Borough, Councillor Halimah Khaled MBE, who led the ground-breaking ceremony.
Councillor Tony Harper said: “We are delighted that work has now begun on site. Panattoni Park Nottingham will bring a much-welcomed economy boost to Broxtowe Borough Council and this site is ideally situated on the main A610 trunk road with easy access to Nottingham and Derby and the M1. We wish the developers every success in this landmark development.”
Simon Jenkins, Development Director at First Panattoni, said: “We have been involved with this site for some time and are extremely pleased to have secured it as one of the first First Panattoni developments to come forward.
“Broxtowe have always been very supportive of our plans for Panattoni Park Nottingham and the hundreds of job opportunities it will create for the local area"
FHP Property Consultants will be acting as one of the agents working for First Panattoni on this development.
John Proctor, Director of FHP, said: “This scheme is highly significant both within a local, regional and national context. In distribution terms the East Midlands has traditionally focused its distribution activity around Northampton and the M1 / M6 triangle. Increasingly occupiers are seeking a location which is highly accessible with available labor at cost effective rates. Panattoni have identified that this park ticks all of the boxes and to have this scale and nature of scheme built in advance of occupiers being identified is a fantastic testament to the faith in the location that Panattoni are showing."
Lorraine Baggs, Head of Investment at Invest in Nottingham, said: “It’s great to see new high-quality employment space being built in Nottinghamshire and Panattoni Park Nottingham further enhances our offer to businesses looking to expand and relocate into the area. Logistics is an important sector and with increasing exports and e-commerce driving demand for space it’s fantastic to see First Panattoni building speculative space to meet that demand.”
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