Panther Logistics is to open a new hub to offer its next day delivery service from Gateshead. The parent company The Panther Group has taken a 37,770 sq ft industrial unit at LGIM Real Assets’ 14 Follingsby Park on a 10 year lease.
The company, which is based in Northampton is one of the UK’s leading suppliers of nationwide 2 Man and 1 Man assisted ‘white glove’ home delivery services.
Follingsby Park is located in a prominent position on the A194 and is widely regarded as the North East’s premier distribution location. The unit was comprehensively refurbished in August last year.
Cushman & Wakefield in Newcastle acted for the owner Legal & General Investment Management Real Assets (LGIM), on behalf of its UK Property Fund. Panther was represented by Knight Frank.
It is one of the number refurbishment initiatives at Follingsby Park as part of a rebrand of the site. The new depot is due to open in the second quarter of this year.
Image: Cushman & Wakefield