Work is poised to start on a huge new industrial development in the West Midlands which could create around 1,000 jobs.
Panattoni, the US-headquartered developer of industrial property, is behind the £135 million Panattoni Park Coventry project which recently secured consent.
The scheme will comprise a 540,000 sq ft unit which will be built speculatively and be ready for occupation in autumn 2026.
The park covers 55 acres off Wilsons Lane in Longford, north of Coventry city centre, and sits next to junction three of the M6.
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Outline consent is already in place for two further units, of 40,000 sq ft and 20,000 sq ft respectively, which could also be built.
Patrick Clews has recently joined the company as development manager for the Midlands.
He said: "Having witnessed the Midlands market dominate occupier take-up in 2024, it is extremely exciting to announce that construction will be commencing imminently on our latest speculative development in Coventry.
"At over half a million square feet, it will be one of the largest speculative units currently under development in a market where we're seeing increasing pressure from tenants who are scaling quickly into new energy-efficient facilities.
"I'm excited to be joining Panattoni at such a pivotal time and to help drive the delivery of this flagship scheme."
