Panattoni has acquired an additional 10-acre site at G-Park Sittingbourne from GLP taking its investment in the net zero carbon logistics park to £170m.
The developer is already on site at the park delivering the 645,000 sq ft first phase across two units of 440,000 sq ft and 205,000 sq ft. Completion of the units is expected in March next year.
Panattoni is preparing to submit a planning application for a 128,050 sq ft unit on the new site with construction of this second phase of development expected to start in the fourth quarter of this year, with completion due in the third quarter of 2025.
Panattoni Park Sittingbourne will offer 773,000 sq ft of BREEAM Excellent and EPC A-rated logistics space across a 36-acre site.
Tony Watkins, head of development for the South East and London at Panattoni, said: “This expansion of our site at Sittingbourne reflects the attractiveness of the location, which is suffering from an acute supply-demand imbalance. It is part of our strategy to acquire land in undersupplied markets in London and the South East that offers value-add opportunities.”
Panattoni was advised by JLL. GLP was advised by Avison Young.
