Developer Panattoni is set to establish a new logistics park, valued at £135 million, adjacent to the M6, following its recent acquisition of a 47-acre site in Coventry. The project, named Panattoni Park Coventry, is a net-zero speculative development situated north of Coventry city centre in Exhall.

The newly acquired land, purchased from L&Q Estates, has already received outline planning consent for up to 600,000 sq ft of logistics space. The main feature of this development will be a 540,000 sq ft unit, with additional plans for two smaller units of 40,000 sq ft and 20,000 sq ft respectively.

Panattoni’s decision to develop this site reflects its strategy to invest in speculative developments in regions experiencing a critical shortage of space, anticipating strong potential for rental growth. An additional eight-acre parcel within the same planning consent has been purchased by Taylor Wimpey, indicating further interest and investment in the area.