Panattoni has agreed a deal to acquire a prime 5-acre logistics development site from Tesa UK in Milton Keynes for an undisclosed price.
The Panattoni Milton Keynes 100 development will see an existing industrial unit demolished and replaced by a new single unit of 100,000 sq ft.
Panattoni, which is partnering with Newport Logistics Fund III on the scheme, intends to submit a detailed planning application for the £30m development in Q2 2025.
Szymon Ostrowski, managing director of Newport Logistics Fund, said: “This first development for Newport Logistics Fund III reflects our commitment to creating sustainable, high-quality logistics assets in key European markets. Milton Keynes is a prime location with strong occupier demand, and this investment aligns perfectly with our strategy to deliver modern facilities that meet evolving ESG standards and generate attractive returns for our investors.”
James Watson, head of development, Southern England and London at Panattoni, added: “Our latest acquisition underlines our long-term commitment to Milton Keynes and our confidence in the region’s industrial and logistics market. With the completion of the new logistics hub, Panattoni Park Milton Keynes, we wanted to continue to expand our speculative offering, giving tenants flexible size options for businesses to move and grow in the region.
“Panattoni is offering clients modern, high-quality, sustainable space in a prime location. This investment aligns with our strategy to deliver best-in-class facilities to meet occupier demand. We look forward to bringing forward the planning and working with the community even further.”
Panattoni was advised by Savills on the acquisition.
