A huge new warehouse on the outskirts of Swindon has been sold for £200 million – making it the single biggest storage and distribution property deal in British history.
Panattoni’s giant 2.3 million sq ft warehouse at Symmetry Park has been sold to Legal & General Investment Managers, and let to online retail giant Amazon on a 20-year lease at around £10m a year, according to trade publication Property Week.
The warehouse – which has not yet been built – was given the go-ahead by Swindon Borough Council in June. Construction is expected to be completed by the end of 2021.
The B8 (storage and distribution) building will have three mezzanine floors and a total 2,327,879 sq ft of floorspace including 55,370 sq ft of offices. There will be 791 parking spaces.
Panattoni – the largest developer of logistics buildings in Europe – recently built a 170,000 sq ft industrial warehouse at Banbury (pictured) for Amazon.
Last month Amazon said it wanted to create 7,000 news jobs in the UK this year, bringing its total UK workforce to 40,000. It also intends to hire 20,000 seasonal workers to cover the Christmas period.