Tuesday, August 11, 2020

Panattoni breaks ground on major new speculative development in Wakefield

Europe’s largest industrial developer has broken ground on a new 515,000 sq. ft speculative development in Yorkshire.

The development – entitled Wakefield515 – sees Panattoni undertake developing in partnership with AEW and is set to be the largest speculative warehouse under construction in the North of the UK.

Wakefield515 signifies one of the sectors’ largest commitments since the emergence of the COVID-19 pandemic and re-enforces Panattoni’s continued appetite for the UK. The unit is anticipated to be ready for occupation in Q2 2021.

Wakefield515 is located adjacent to TK Maxx Regional Distribution Centre on the strategically important junction of the M62 and A1(M), providing direct access to major cities and ports such as Manchester, Liverpool, Leeds and Immingham.

Panattoni will support up to 500 full-time jobs and introduce £5.5 million into the local economy through employment alone as a result of the construction of Wakefield515 warehouse.

Cllr Darren Byford, Wakefield Council’s Cabinet Member for Economic Growth and Regeneration, said: “We are delighted that planning consent has been granted for Panattoni to begin this construction which will bring further employment and skilled roles to our district.

“Panattoni have a pedigree in securing investment from some excellent brands and I am looking forward to welcoming such employers to our district.

“Wakefield515 is a great site with excellent access to the motorway network, perfect for attracting skilled workers from the local area. We welcome the investment into the area and look forward to seeing local workers benefit from future employment opportunities.”

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