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European industrial developer Panattoni has begun work on a warehouse development project in Yorkshire which has the potential to create up to 500 jobs.
The developer has now broken ground on the 515,000 sq. ft speculative development in Wakefield, Yorkshire. The development, named Wakefield515, is a partnership between Panattoni and AEW, and it being touted as the “largest speculative warehouse” under construction in the North of the UK.
The unit is due to be ready for occupation in Q2 2021.
Panattoni has said that the development will support 500 full-time jobs, as well as introducing £5.5 million into the local economy through employment.
Andy Preston, development manager at Panattoni, commented: “There is a lack of supply of large warehouse facilities along the M62 corridor, and despite tougher economic conditions as a result of the ongoing pandemic, e-commerce remains strong and we believe that the new development of Wakefield515 will attract a high level of demand.”
Councillor Darren Byford, Wakefield Council’s cabinet member for economic growth and regeneration, said he was delighted that the development had been granted planning consent and that it would be bringing jobs and skilled roles to the area.
He also noted that the development is in a prime position for transport links, which was ideal for attracting skilled workers to the district.
Matthew Byrom, managing director at Panattoni, added: “This project demonstrates Panattoni’s utmost confidence in the continued strength of the UK market and underscores our strategy of building speculatively in all key markets to capture the acceleration of e-commerce and the upsurge in movement into on-line retail by many of our customers.”
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