Panattoni has acquired a 23-acre development site at Wakefield Europort, West Yorkshire, from Delin Property for an undisclosed price.
The company intends to deliver a 500,000 sq ft speculative cross-docked logistics and warehousing development on the site called Panattoni Wakefield 500 in a joint venture with Newport by Panattoni.
The facility will feature 56 dock doors, eight level access doors, yard depths of up to 50m, 62 HGV spaces, 384 car parking spaces and a power supply of 2.5 MVA. Panattoni is targeting a BREEAM Outstanding rating for the development and will achieve net zero carbon in construction.
The Wakefield Europort site offers direct access to Junction 31 of the M62 and connectivity via the M1 and A1(M), providing comprehensive motorway coverage across the North, Midlands and beyond.
Andrew Preston, senior development director at Panattoni, said: “Wakefield Europort is one of the strongest logistics addresses in Yorkshire, and this acquisition reflects our conviction that demand for large-format, high-specification space in this market is not being adequately served by existing supply. The combination of M62, M1 and A1(M) connectivity is rare at this scale, and the presence of a rail freight terminal adds a further dimension that is increasingly relevant to occupiers with sustainability commitments.
“We look forward to starting on-site this quarter and bringing this speculative warehouse for occupation as quickly as possible. Panattoni Wakefield 500 reflects the company’s continued commitment to big box speculative development, supply-constrained markets, bringing forward high-specification, sustainable assets aligned with long-term occupier demand.”
Daniel Raemy, chief executive officer of Newport by Panattoni, added: “This acquisition further strengthens Newport Fund III’s strategy to invest in strategically located European logistics assets with strong long-term occupier relevance. Wakefield 500 expands our UK exposure into the big-box segment, combining scale, excellent motorway connectivity and intermodal potential in one of the country’s most established logistics corridors.
“The project reflects the type of institutional-quality development we continue to target – assets aligned with evolving supply-chain requirements, sustainability standards and future liquidity expectations. Together with Panattoni’s UK proven delivery platform, we believe this investment supports the fund’s strategy of building a resilient, future-oriented logistics portfolio across Europe.”
