CBRE Investment Management (CBRE IM) and Chancerygate have secured planning consent to speculatively build a 200,000 sq ft urban logistics scheme in Milton Keynes.
Axis Park, which is located on Blackhill Drive, will comprise eight leasehold units ranging from 6,100 sq ft to 67,700 sq ft.
Construction work on the 10.6-acre site is expected to commence in November and it is anticipated that the first occupiers will move in during the third quarter of next year.
CBRE IM and Chancerygate are targeting BREEAM Outstanding certification and an EPC A+ rating as a minimum for the units, which will feature EV charging points and solar cells.
George Dickens, senior development director at Chancerygate, said: “We are very pleased to be able to bring forward Axis Park in partnership with CBRE IM as part of our joint venture to deliver much-needed sustainable urban logistics space throughout the UK. There is strong demand in Milton Keynes for high specification Grade A urban logistics accommodation strategically located in close proximity to the key transport links that serve the city and wider region. Our development will meet this demand and provide a thriving long term economic asset for the area which we estimate could create hundreds of jobs.”
Tom James, head of UK transactions at CBRE IM, added: “This project represents a strategic investment into multi-let urban logistics in a high-demand, well-connected area, offering modern, sustainable space that aligns with our commitment to deliver long-term value creation for our investors. Axis Park will provide state-of-the-art facilities for local and regional businesses for whom there is limited new best in class space of this size in Milton Keynes.”
Cushman & Wakefield and Louch Shacklock are joint letting agents for Axis Park.
