Merseyside Pension Fund backs Panattoni at Wakefield Europort
Advised by CBRE, the fund will provide a £47.5m development loan to support the delivery of around 500,000 sq ft of logistics space at the West Yorkshire logistics hotspot.
The financing, provided for the logistics investment within Panattoni’s Newport Logistics Fund III, will support the development of Panattoni Wakefield 500.
Already under construction, Wakefield 500 will be the region’s only speculative logistics unit of this scale, CBRE said.
Knight Frank, Colliers, and CPP were appointed as joint agents in September for the project at the 23-acre site, off Junction 31 of the M62, following its acquisition by Panattoni from Delin Property.
Wakefield Europort is an established logistics location, with occupiers including Haribo, Warburtons, Asda, Royal Mail, and Menzies, benefitting from direct access to the M62, M1 and A1(M) motorway corridors, along with nearby intermodal rail infrastructure.
Andrew Antoniades, head of lending, CBRE, said: “This transaction demonstrates continued appetite from our institutional capital partners for high-quality developments in established locations. Wakefield 500’s scale and strategic position made it an attractive opportunity, and the financing will support the delivery of one of the North of England’s most significant logistics developments.”
The scheme is targeting BREEAM Outstanding, an EPC A+ rating and net zero carbon in construction. Practical completion is scheduled for May 2027.
The funding is the second to a Panattoni-backed entity by MPF in collaboration with CBRE, following a loan that supported the development of Haydock 66 in Merseyside in 2025.
Adil Manzoor, head of private markets, Merseyside Pension Fund, said: “At MPF through our Catalyst Fund we are committed to investing in opportunities that generate long term value for our members whilst supporting growth and regeneration across the local region.
“Wakefield 500 represents a high quality development in a strategically important logistics location and its strong sustainability credentials further enhance its appeal. We are delighted to support a project that will contribute to economic activity, job creation and modern infrastructure in our local region.”
Oliver Choppin, finance director at Panattoni, said: “Speculative development at this scale requires considerable investment, and MPF’s decision to fund a second Panattoni scheme, following Haydock 66, demonstrates institutional confidence in our delivery track record and the continued demand for Grade A logistics space in undersupplied locations.
“Occupiers across the North are increasingly seeking large, sustainable, ready-to-occupy buildings, yet supply remains limited.”
