AAG takes final slice of Panattoni Park Rotherham
The ‘fully let’ sign can go up after Alliance Automotive Group agreed a long-term lease on the final 80,870 sq ft unit at the development, where it already occupies the neighbouring 630,000 sq ft facility.
AAG will now occupy the entirety of the 710,870 sq ft park. The additional space supports expansion of the group’s distribution operations and consolidation of other facilities.
Scott Meakin, development surveyor at Panattoni, said: “AAG taking the final unit is a strong conclusion to the development at Panattoni Park Rotherham. Having initially committed to the adjacent 630,000 sq ft building, their decision to expand into Rotherham 80 means AAG will now occupy the entire park. This reflects the continued growth of its UK operations, giving the business the scale and flexibility to support rising order volumnes and deliver faster service to its customers across the UK.”
AAG distributes passenger and commercial vehicle parts to the independent automotive aftermarket. The company is a wholly owned subsidiary of Genuine Parts Company, the largest worldwide automotive parts distributor with activities in North America, Europe and Australasia.
Panattoni Park Rotherham provides direct access to the wider South Yorkshire and national motorway networks. The park is next to Junction 1 of the M18 and close to the M1/M18 interchange.
Meakin added: “One of the strengths of our development platform is our ability to deliver across both the mid-box and big-box sectors. This gives our customers the opportunity to grow within the Panattoni portfolio as their requirements evolve, whether through larger facilities, additional neighbouring space, or a combination of the two.
“We remain committed to developing a range of unit sizes in the UK’s strongest logistics locations, giving occupiers the flexibility to expand, consolidate, and adapt their property requirements as their businesses grow.”
Steve Richardson, managing director AAG Group UK & Ireland, said: “Taking the full campus helps us further strengthen our network efficiency and expands our future growth capabilities.”
Panattoni’s investment partner was Europa. James Keast, director at Europa, commented: “AAG’s further expansion at Panattoni Park Rotherham is a strong endorsement of the asset, its location and the quality of the occupier experience we seek to provide across the portfolio. It is encouraging to see an existing customer commit to additional space, and ultimately the entire park, demonstrating the long-term appeal of well-specified logistics assets which reinforces our conviction in the sector as a key driver of sustainable income growth for the fund.”
