Panattoni, the largest logistics real estate developer in Europe, has fully let its 1.7 million sq ft logistics park in Northampton after signing lease agreements for the last two units with iForce and Hotel Chocolat.
iForce, the UK’s fastest growing e-fulfilment, carriage management and returns recovery provider, has signed a 10-year lease for a 376,915 sq ft facility at at Panattoni Park Northampton and Hotel Chocolat, the premium British chocolatier and cacao grower, has signed a 10-year lease for a 429,107 sq ft facility.
These two lettings follow that to 4PX Express, the global logistics company, which signed a 15-year lease for a 250,000 sq ft facility in November last year, and the success of the first phase of 625,000 sq ft, which was pre-let to Eddie Stobart Logistics, owned by Culina Group.
All three buildings in the second phase were speculatively developed to a BREEAM rating of ‘Excellent’ and an EPC ‘A’ rating. Northampton sits in the ‘logistics golden triangle’, long regarded as the UK’s most strategically important location for distribution. Located at junction 16 of the M1, Panattoni Park Northampton is only 20 miles from the M6 and A14.
Oliver Bertram, Development Director at Panattoni, said: “Letting over 1 million sq ft to three different companies in just five months reflects the importance of Northampton as a logistics location and the attraction of the park to occupiers.
“We are experiencing high occupier demand for immediately available logistics space, which justifies our commitment to a major speculative development programme in the UK”.
Paul Thirkell, managing director of iForce, said: “iForce is absolutely delighted to have secured a new facility at Panattoni Park Northampton, which will help to facilitate the significant growth the business is experiencing. The location is of strategic importance within our network and located next to three other Culina Group warehouses, creating significant synergies across the group companies”.
Letting agents for Panattoni were Savills and Burbage Realty. iForce was advised by Roebuck and Hotel Chocolat was advised by Bidwells.
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