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Panattoni Leases Farnborough 170 to DFS Furniture

Panattoni Leases Farnborough 170 to DFS Furniture

In just 11 months since acquiring the former Benthalls warehouse site in Farnborough, Panattoni has developed a 170,000 sq ft logistics facility and let the entire unit to DFS Furniture on a long-term lease, highlighting the speed and success of its speculative build strategy in the UK. DFS commenced its fit out within the building in December.

As demand for large logistics facilities in the UK continues unabated, Panattoni is helping some of the largest companies to expand their operations by developing high-spec logistics facilities at scale in some of the most strategically important locations around the country. Located on the M3 corridor, Farnborough 170 serves Europe’s largest consumer markets and was one of the only large units speculatively delivered in the Thames Valley in 2021.

Commenting on the project, Alex Mitchell, Development Associate at Panattoni, said: “The letting of the speculatively developed Farnborough 170 to DFS Furniture in such a short period from our purchase of the land to development of the facility is indicative of the high demand that we’re experiencing from tenants for immediately available logistics space and justifies our commitment to a speculative development programme in the UK”.

In 2017, Panattoni made a UK-wide commitment to speculatively develop more than 3 million sq ft of space annually, purchasing new sites and committing to development straightaway. Panattoni now dominates the logistics development market in the UK, speculatively developing 5 million sq ft annually, on average, to meet the growing occupier demand for space.

Panattoni Farnborough 170 has been built to a BREEAM rating of ‘Very Good’ and an EPC rating of ‘A’ with low carbon in mind, using technology such as roof-mounted, mono-crystalline photovoltaic panels and solar thermal panels. It also has a 15m clear internal height, 12 dock doors, nine level access doors and up to 2.5 MVA of power.

Letting agents on the scheme were DTRE and Savills. DFS was advised by Savills.

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BDC 319 : Aug 2024