Panattoni has agreed a deal to acquire a 10-acre logistics development site on the North Feltham Trading Estate near Heathrow Airport for an undisclosed price.
Ahead of submitting a planning application for Panattoni Park Heathrow, the company is seeking build-to-suit pre-let agreements to deliver flexible, purpose-built facilities of up to 250,000 sq ft.
Alex Mitchell, development manager at Panattoni, said: “This acquisition at Heathrow represents a significant opportunity to provide much-needed, high quality logistics space in a critically important and supply-constrained market. Panattoni Park Heathrow represents one of the latest significant development sites near the airport, offering occupiers the chance to secure sustainable, bespoke buildings in a market defined by limited availability.
“The park will cater to the strong demand from businesses looking to capitalise on Heathrow’s connectivity for both London and international operations. We are excited to bring this project forward and further solidify our presence in the UK’s key logistics corridors.”
Panattoni was advised by JLL on the acquisition.
