Confidence in Kent as a location for high-quality warehousing and distribution space has been given a boost after logistics property developer Panattoni acquired a further 10 acres of land in Swale.
The purchase will take Panattoni’s investment to £170m and create a net zero carbon logistics park in Sittingbourne, offering a total of 773,000 sq ft on what will now be a 36-acre site near Kemsley.
The deal comes after work recently got underway on Panattoni’s speculative development which will deliver the first phase of the park, with two units of 440,000 sq ft and 205,000 sq ft respectively. Completion of these two units is expected in March 2025.
The new land will make it possible for the company to prepare plans which could see up to a further 128,000 sq ft of commercial space developed at Panattoni Park Sittingbourne.
The proposals, which would be subject to a planning application, could see construction start later this year and completed by the third quarter of 2025.
Tony Watkins, head of development for the South East and London at Panattoni, said: “The acquisition of the additional 10 acres reflects the attractiveness of the location, with demand for high-quality logistics facilities continuing to outstrip supply across Kent and the South East.
“It is part of our strategy to acquire land to provide highly efficient distribution premises, with high energy performance, from where industry-leading companies can serve London and the South East.
“The good news is we will now be able to create a home for even more jobs, up from the 1,069 we originally expected, which is great news for Swale and the local community.”
Panattoni is targeting net zero carbon development with an expected BREEAM sustainability rating of ‘Excellent’ and an EPC rating of ‘A’.
All units are to be developed with enhanced sustainability measures within the base specification, including the installation of roof-mounted photovoltaic panelling and electric vehicle charging points.
