Bought, built and let in less than a year
In just 11 months Panattoni has bought the site, developed the logistics facility and let the entire unit to DFS Furniture on a long-term lease.
Commenting on the project, Alex Mitchell development associate at Panattoni, said: “The letting of the speculatively developed Farnborough 170 to DFS Furniture in such a short period from our purchase of the land to development of the facility is indicative of the high demand that we’re experiencing from tenants for immediately available logistics space and justifies our commitment to a speculative development programme in the UK”.
Panattoni Farnborough 170 has been built to a BREEAM rating of ‘Very Good’ and an EPC rating of ‘A’ with low carbon in mind, using technology such as roof-mounted, mono-crystalline photovoltaic panels and solar thermal panels. It also has a 15m clear internal height, 12 dock and nine level access doors and up to 2.5 MVA of power.
In 2017, Panattoni made a UK-wide commitment to speculatively develop more than 3 million ft2 of space annually, purchasing new sites and committing to development straightaway. Panattoni is now speculatively developing 5 million ft2 annually, on average, to meet the growing occupier demand for space.
Letting agents on the scheme were DTRE and Savills. DFS was advised by Savills.