Interest rates may be rising, energy costs soaring and the economy showing negative growth, but the UK's largest logistics real estate developer Panattoni still has confidence in the future.

The firm has decided to go ahead and start construction of the sole remaining plot on Panattoni Park in Aylesford, even though it has yet to secure a tenant for the site.

It will construct a mammoth 752,823 sq ft facility, which also has planning consent for an additional 400,000 sq ft of mezzanine space, if required.

Work begins this month and is expected to be completed by November of next year.

The cross-docked warehouse will have 128 dock doors, 12 level-access doors, and 754 car parking spaces, as well as electric charging points.

Other plots on the site, which used to be the home of Aylesford Newsprint, have already been taken up by delivery firms DHL and Evri, logistics company Fowler Welch and roofing specialists Marley.

The park is close to Junctions 4 and 5 on the M20.

Tony Watkins, Panattoni's head of development in the south east, said: "Speculatively developing the largest logistics building in the region reflects our continuing commitment to providing much-needed immediate space for large-scale occupiers and our confidence in the market.

“We have experienced great leasing success at Aylesford and have just welcomed Evri into its new facility and will be welcoming other new tenants in the coming weeks, so it will be a prime time to deliver the last remaining plot for the big box occupiers.”