Panattoni fills up at Derbyshire estate
The industrial developer has reached full occupancy at Panattoni Park J28 Central M1, following a 230,000 sq ft deal with Alloga.
Panattoni Park J28 Central M1 is described by he owner as having established itself as a prime logistics location, benefiting from direct access to the M1 and strong connectivity to national distribution networks.
Chinese third party logistics operator Super Smart Service also operates from the park, in South Normanton.
Part of US-headquartered drug group Cencora, Alloga is a pharmaceutical supply chain specialist, and the deal marks Panattoni’s second building delivered to the firm.
Panattoni said that the deal reflects a rise in pharmaceutical occupiers taking space across the UK and Europe, where increasing regulatory requirements, more complex temperature-controlled supply chains and the need for GDP- and GMP-compliant facilities are driving demand for highly specified logistics real estate.
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.”
Within the region, Panattoni has recently acquired a development site in Worksop, which is set to deliver 462,000 sq ft speculative building, as well as a site in Northampton West with the potential for 1m sq ft of speculative development.
The firm has also secured 15 acres at Brackmills for a £75m, 340,000 sq ft single unit development.
The leasing agents on Panattoni Park J28 Central M1 are FHP, CBRE and APEX. Savills advised Alloga on the lease.
- Read Place Yorkshire’s interview with Panattoni’s Dan Burn
