Panattoni has started speculative development of Poyle 80, an 80,000 sq.ft. last-mile logistics project near London’s Heathrow airport. The logistics group had acquired the site in early 2023 and had obtained planning permission in December last year.
Completion of the project is expected in Q4 2023. It is a net zero carbon development that will be built to a BREEAM sustainability rating of ‘Excellent’ and an EPC rating of ‘A’.
“We are pleased to be moving forward on the delivery of the new site”, said Stephen Vickers, commercial delivery director, Panattoni. “We have reviewed the supply chain to make sure we are reducing our carbon output and delivering a net zero carbon development in construction. The facility will deliver a highly sustainable scheme to an excellent specification in a desired prime location”.
Panattoni Poyle 80 is in a highly sought-after location on Horton Road near junction 14 of the M25. Poyle is one of Greater London’s most established logistics locations, offering direct access to the M25 and close proximity to Heathrow airport’s passenger and cargo terminals alongside last-mile connectivity with London, Europe’s largest consumer market.
Heathrow airport services 1,300 flights daily and processes 1.7 million metric tonnes of cargo volume.
It is one of three sites in England’s South East that Panattoni acquired in 2023 for a combined £250 million, as part of its strategy to find value-add development opportunities in core markets and drive rental growth.
“Panattoni Poyle 80 is a rare ultra-urban, last-mile opportunity, providing immediate access to the UK’s largest cargo terminal at Heathrow airport, and is one of very few opportunities available in this market”, said Alex Mitchell, Development Manager, South East and London, Panattoni.
The development “reaffirms our ongoing commitment to our speculative development programme and the broader logistics sector, which continues to benefit from strong occupier demand for well-located, high-quality assets with enhanced sustainability credentials”, Mitchell added. “We’ve been encouraged by early interest”.