Construction of Crewe 240 commences
Furthering its commitment to undertake over 3 million sq. ft of speculative development in 2018, First Panattoni has broken ground on its latest development: Crewe 240. The 240,000 sq. ft logistics building – the only development of its size and scale along the M6 corridor – is due for completion by the end of the year.
The building, which is being built to BREEAM “Very Good” and EPC A standards, is ideally situated close to Junction 16 of the M6 motorway and the Bentley Motors manufacturing plant on Pyms Lane in the town. The location is also set to benefit from the recently announced upgrade of the A500, which is due to be widened in preparation for Crewe’s proposed HS2 hub station.
Cllr Bernice Walmsley, Director at the Skills & Growth Company, said: “This is a landmark development for the region and will bring new jobs and further economic growth to Crewe to supplement ongoing regeneration schemes in the town. With the excellent links to the M6, and the proposed infrastructure upgrades of the A500, this site represents a huge opportunity to further cement Crewe as a hub for large-scale logistics and warehousing.”
Cllr George Hayes Chairman of the Skills & Growth Company, added: “As an organisation which is committed to the growth of business in the region, it’s fantastic to see a premium development of this nature being brought forward – signalling that we are very much open for business. As the development progresses we look forward to supporting businesses looking to occupy this prime warehousing space.”
Wholly funded by First Panattoni, the commencement of work on site follows the launch earlier this month of the company’s Northern office, as the industrial developer drives forward plans to develop up to 1,000,000 sq. ft of speculative logistics warehousing across the Northern markets and along the M6, M62 and M1 corridors.
Daniel Burn, Development Director at First Panattoni, said: “Crewe is our first development in the North West market since the merger with First Industrial. It’s the only building of its size available along the vital M6 motorway network and confirms our commitment to speculatively develop major logistics warehousing across the North West and Yorkshire.
“With the increased growth of e-commerce and the rising demand for large units of this scale, Crewe 240 offers a unique opportunity for warehouse and logistics operators.”
Established in 1986 and headquartered in California, Panattoni is the largest privately-owned industrial developer in the world, having delivered buildings for over 2,500 customers. In the last two years, the European platform alone has completed over 30 million sq. ft of warehousing facilities and, only earlier this month, was re-confirmed by PropertyEU as the largest new-build industrial developer across Europe for the second year running.