Panattoni and Legal & General’s Industrial Property Investment Fund (IPIF) are to speculatively develop a three-unit warehouse scheme in Basingstoke after acquiring an 11-acre site.
The new scheme on the former Motorola factory site, will accommodate three net carbon zero warehouses of 40,209 ft2, 77,548 ft2 and 96,302 ft2.
Known as V Park, the mid-box scheme is only two miles from both the centre of Basingstoke and Junction 6 of the M3 motorway.
Oliver Bertram, Development Director at Panattoni, said:
“V Park Basingstoke is being delivered at speed and we are looking forward to completing these ready for occupation by the end of Q2 2022. Demolition of the former Motorola factory is set to start in June this year. Once completed, the facilities could generate over 215 full time jobs.”
The buildings will benefit from a high standard specification, harnessing net carbon zero (NZC) technology to prioritise energy efficiency and reduce operating costs. The buildings will be built to a BREEAM rating of ‘Very Good’, with many sustainable credentials and an EPC rating of ‘A’. The buildings are designed to promote energy efficient and low carbon operation, with 100% LED sensored lighting, 15% roof lights and extensive electric vehicle charging points. The units comprise:
Letting agents are CBRE and Cushman & Wakefield.
This is Panattoni’s second M3 corridor development programme in just under a month. In April it announced that it hd acquired an 8.33 acre site on the M3 corridor near to Farnborough, where it intends to develop a 170,000 sq ft speculative warehouse.
The development known as Panattoni Farnborough 170 will see the demolition and redevelopment of the former Benthalls warehouse with a 168,241 ft2 Grade A facility built to a BREEAM rating of ‘Very Good’, with an EPC rating of ‘A’.