The largest logistics real estate developer in Europe, Panattoni, has broken ground on one of the largest brownfield sites in the UK, which will initiate the flow of a £900m investment into the economy over the next decade.
Panattoni Park Swindon will comprise of 11 net zero carbon buildings totalling 7.2 million sq ft, of brand new advanced real estate space, fit for logistics, manufacturing and data centre uses.
The formal ground breaking ceremony was attended by the Prime Minister, Rishi Sunak, Swindon’s Members of Parliament, Rt Hon Robert Buckland MP and Justin Tomlinson MP, and Panattoni CEO for Europe and India and Co-Founder, Robert Dobrzycki, Managing Director for UK, Matthew Byrom, and Head of Development, Southern England & London, James Watson.
Speaking at the event, Mr Sunak said: “What we are able to celebrate today is one of the largest investments in the south, one of the largest development sites in the south, that is going to create thousands and thousands of jobs and that is fantastic for the local area.
A huge vote of confidence, not just in the UK economy but in the local area in particular. I don’t think this would have happened without the efforts of everyone involved including our two MPs here and what it means is that everyone here can look forward to a brighter future. The economy has been through, of course, a tough couple of years but I believe we have turned a corner and announcements like this show that our plan is working.”
Panattoni Park Swindon is committed to its environmental responsibility, achieving net zero carbon in construction, BREEAM ‘Excellent’ certification, EPC A+ and 10% net gain biodiversity.
The site benefits from detailed planning consent for a single unit of 1.25 million sq ft and outline planning permission for the whole park. The proposals will generate thousands of new employment opportunities, including up to 7,000 new jobs on site and 9,000 indirect jobs in the supply chain over the next 10 years.
Speaking on behalf of Panattoni, Matthew Byrom, Managing Director, said: “It was great to welcome the Prime Minister today to unveil the ground breaking of Panattoni Park Swindon. What our commitment today of $1.15bn (£900m) into this project demonstrates, is that the UK post-Brexit remains a highly attractive place to invest; with its stable economy and political backdrop, it gives our capital certainty that our investment is secure.
We are confident that this significant level of inward investment will lead to the creation of thousands of new jobs and have a substantive ‘ripple out’ effect to both the local and regional economy. Panattoni Park Swindon will deliver around 7,500 new jobs which is twice the number afforded by the site when it was closed by Honda in July 2021.
There are also likely to be many additional opportunities for primary and secondary suppliers. By any measure, this project is a huge vote of confidence for the region and the fundamentals that underpin the UK economy.”
Infrastructure and demolition works have commenced and the construction for the speculative phase of development will begin later this year.
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