On March 9, 2022, Knight Frank announced that the two-man delivery service specialist, Panther Logistics, had taken up a 133,000 sq ft warehouse at Foxcover Distribution Park in Seaham after outgrowing its 42,000 sq ft space at Follingsby Park in Gateshead. Knight Frank has secured the new letting in County Durham on behalf of the company. As reported by Knight Frank, the Northeast region sees a chronic shortage of industrial properties and strong demand for space.
Panther Logistics offers a premium, two-man delivery service where a white-gloved duo delivers and assembles any domestic goods in the customer’s home – from kitchen appliances to fitness equipment.
The company started off in 2013, with five staff, 40 deliveries a day, a £3m turnover and a 12,000 sq ft warehouse in Peterlee. Rapid growth saw the firm move to Follingsby Park in Gateshead and five years later it needed to triple its space to support 180 staff and 1,300 daily deliveries, whilst steering towards a £100m expected turnover by April 2022.
According to Knight Frank, Panther Logistics needed the additional space to be able to expand its offering to clients – from delivering their domestic goods, to tipping containers for them, storing the products, and delivering them to the end-user. The firm has recently started covering Scotland, and the Foxcover facility will serve two of their major clients – home gym specialists, Ifit, and suppliers of cooking appliances, extractors and plasma filters, Kitchen Ex.
Source: Knight Frank
