Warehouse REIT and Panattoni to deliver major logistics park in the North West
Panattoni, will be responsible for delivering the scheme with Warehouse REIT funding and retaining the completed scheme.
Warehouse REIT, the urban and 'last-mile' industrial warehouse investor, has entered into a development agreement with Panattoni, the largest logistics real estate developer in Europe, to bring forward the development of up to 2 million sq ft at its logistics hub at Radway Green, in Crewe.
the terms of the agreement, Panattoni, which has developed 20 million sq ft of logistics space in the
UK in the last four years, will be responsible for delivering the scheme with Warehouse REIT funding
and retaining the completed scheme.
Since 2017, Warehouse REIT has assembled a 102-acre site in what is a premier logistics location in the North West, located less than 1.5 miles from J16 of the M6 motorway.
In 2021, the Company
announced that it had secured planning consent, submitted in collaboration with the adjoining
landowner, for a combined 803,000 sq ft of modern warehouse space across six new high-bay units,
ranging from 22,000 sq ft to 340,000 sq ft. A live planning application is running for a further 1,020,000
sq ft of warehousing.
The first phase of the project will start on site in Q4 2022, with the first units available for occupation
in Q4 2023. In line with both Warehouse REIT and Panattoni’s commitment to delivering highly
sustainable real estate, the new units will benefit from a minimum rating of EPC A and be BREEAM