Panattoni buys Brighton site for major logistics development

By Stephen Emerson

6 December 2022

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Panattoni buys Brighton site for major logistics development

Developer Panattoni has acquired a 257,000sqft speculative logistics development.

Panattoni said the 12-acre site near Brighton, which was acquired from Kennedy Wilson, will be used to develop the Panattoni Park Brighton.

The speculative development of the 12-acre park is expected to begin in the first quarter of 2023, with completion expected in the fourth quarter of the same year.

It will comprise seven units, ranging from 19,000 sq ft to 71,495 sq ft, which will be built to a targeted BREEAM rating of Excellent and an EPC rating of A.

Tony Watkins, the head of development for the South East and London at Panattoni, said: “Despite the headwinds facing the whole real estate sector, both Panattoni and Kennedy Wilson are delighted to have closed the transaction for this very well-located site in a very supply-constrained market. We hope to work together on further development transactions.

“We continue to look for opportunities to acquire land, given that the need from occupiers for the development of new facilities remains great. Logistics still has value and we retain our strong commitment to the sector.”

DTRE represented Kennedy Wilson on the sale. Agents for Panattoni Park Brighton are DTRE, Savills and SHW.

Mike Pegler, head of UK at Kennedy Wilson, added: "We recognised a compelling opportunity to unlock the full potential of the whole Brighton City Airport estate following our acquisition of the site in 2020 and moved quickly to secure planning permission for a new industrial development on this site.

"Two years later, as demand for new logistics and industrial space has steadily increased within a region acutely lacking in supply, we are pleased to complete this transaction with Panattoni that will lead to the creation of much needed, high-quality space with leading ESG credentials.

"We retain our interest in the remainder of the airport estate and look forward to working with all stakeholders to further its long-term success."

By Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset.

Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users.

He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.