Work starts on Yorkshire development project which could support 500 jobs

A European industrial developer has started work on a Yorkshire development project which could support up to 500 jobs.

Panattoni has now broken ground on a new 515,000 sq. ft speculative development in Yorkshire.

The development, Wakefield515, is in partnership with AEW and is set to be the “largest speculative warehouse” under construction in the North of the UK.

The unit is anticipated to be ready for occupation in Q2 2021.

Panattoni has said that the project will support 500 full time jobs and introduce £5.5m into the local economy through employment alone.

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: “We are delighted that planning consent has been granted for Panattoni to begin this construction which will bring further employment and skilled roles to our district.

“Panattoni have a pedigree in securing investment from some excellent brands and I am looking forward to welcoming such employers to our district.

“Wakefield515 is a great site with excellent access to the motorway network, perfect for attracting skilled workers from the local area.

“We welcome the investment into the area and look forward to seeing local workers benefit from future employment opportunities.”

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.”