£135m sustainable logistics scheme unveiled by Panattoni

Logistics giant Panattoni has announced plans to develop a £135m logistics project in Coventry.

Panattoni Park Coventry is hoping to secure net-zero carbon emissions credentials on the 47-acre plot near junction 3 of the M6, recently purchased from L&Q Estates.

The site has outline planning approval for 600,000 sq ft of logistics facilities last year, with a main unit spanning 540,000 sq ft and the potential for two additional units of 40,000 sq ft and 20,000 sq ft each.

Taylor Wimpey has also acquired space to develop 73 homes within the development area, in a transaction facilitated by Holt Property.

Construction is expected to commence in early 2025, featuring a range of one-to-four-bedroom properties, with 25% allocated as affordable housing. It will also include a play area, footpaths, cycle routes, and landscaping to enhance community living.

Adrian Clack, managing director at L&Q Estates, said:  “This site near J3 of the M6 is a prime location for new employment space and much-needed homes because of its proximity to the motorway network. The site’s sought-after location for the logistics sector, with five motorways within 15 miles of J3 of the M6, generated enormous interest.

“This development will provide valuable jobs and homes for local people and help businesses with their growth plans, boosting the regional economy.”