Panattoni has unveiled plans to deliver a £135m speculative logistics development in Coventry on land acquired from L&Q Estates.
The site has outline planning consent for 600,000 sq ft of logistics space and Panattoni intends to deliver a 540,000 sq ft unit there. It also has the opportunity to develop two further units of 40,000 sq ft and 20,000 sq ft.
The net zero carbon development, called Panattoni Park Coventry, will be located on a 47-acre site by junction three of the M6. There is an additional eight-acre parcel of land as part of the outline planning consent, which has been acquired by Taylor Wimpey.
Gregg Titley, head of development East and West Midlands at Panattoni, said: “This is a rare opportunity for us to acquire a prime development site in the Golden Triangle. There is a lack of supply of large logistics units of 500,000 sq ft plus in the region, while demand remains strong.”
L&Q Estates and the landowners were advised by Holt Property.
