£700 million logistics scheme approved

Panattoni’s £700 million redevelopment of the former Honda Plant in Swindon creating a 7.2 million ft² industrial and logistics scheme have been almost unanimously approved.

The developer will begin developing the new site speculatively offering up to 12 new units in differing sizes.

According to the Local Democracy Reporting service, Development Ddirector James Watson told the planning committee that Panattoni’s proposals would directly create 7,000 jobs, plus 5,000 more “spin-off” roles,

Mr Watson said: “The development will add a value of £295m per annum, or £1.2bn over the first decade, to the local economy. There will be 7,000 jobs created on the site – at its peak Honda employed 5,000 people.”

Members of the planning committee passed the plans by 12 votes to one abstention in favour of the scheme.

The developer bought the 370-acre site in 2021 from the car manufacturer. Honda announced the closure of the plant in 2019 following a global restructure. This particular development is thought to be the developers largest single park in the UK to date.

The company is seeking to provide a scheme with the highest environmental credentials. All warehouses developed will seek BREEAM Excellent.

Letting agents are Avision Young and DTRE.

Source: logisticsmanager.com