Pharmaceutical logistics provider Alloga has signed for a 230,000 sq ft unit at Panattoni Park J28 Central M1 in the East Midlands.
The park, which has been delivered by joint venture partners Panattoni and Europa, comprises two BREEAM Very Good and EPC A-rated units. The second unit is let to Chinese third-party logistics operator Super Smart Services.
Andy Preston, senior development director at Panattoni, said: “Reaching full occupation at Panattoni Park J28 is a significant milestone and reflects what we are seeing across the Midlands and nationally, as occupiers look to secure Grade A, sustainable accommodation in strategically important locations.
“It’s particularly great to be completing another deal with Alloga and to be working with them again to support the expansion of their pharmaceutical logistics operations. The M1 corridor continues to perform strongly, attracting a wide range of occupiers from e-commerce to pharmaceuticals. We remain actively focused on securing further prime opportunities along the corridor, where we can deliver Grade A buildings that meet occupier needs.”
James Keast, director at Europa, added: “This new letting reinforces our conviction in this asset class and highlights how high quality, well located logistics assets continue to draw interest even after a period in which many occupiers slowed decision making amid broader economic uncertainty. Recent strengthening demand for prime units along this established Midlands corridor, coupled with constrained Grade A supply, has supported sustained rental growth. At J28, the combination of the asset’s high-spec build, strong sustainability credentials and excellent connectivity have appealed to a diverse range of occupiers, such as Alloga, enhancing the tenant mix and income profile.”
Aqil Nagji, director, fund manager, at Europa, said: “Europa has a long-established track record in the logistics sector, with this asset and the wider UK platform forming part of a diversified pan-European industrial and logistics portfolio managed on behalf of our institutional investors and their stakeholders. The successful completion of this new lease underscores the strength of our asset management capabilities and our ability to deliver compelling propositions to high quality occupiers.”
The leasing agents at Panattoni Park J28 Central M1 are FHP, CBRE and Apex. Savills advised Alloga.
