Distribution company Pacific Logistics has bought a 64,503 sq ft mid-box industrial unit in Milton Keynes from Poetic Gem – part of PDS Multinational – for £6m.
The company has occupied Pacific House, which is located just four miles from junction 13 of the M1, for the last eight years.
Eamon Kennedy, partner and head of commercial agency at Kirkby Diamond, which was instructed by Poetic Gem to market the building, said: “Mid-box industrial/warehouse units are in high demand right across the region and there is a well-documented shortage of supply. We were pleased to be appointed to market Pacific House and we had discussions with the existing occupiers, Pacific Logistics.
“The distribution company was very keen to remain at the premises and wanted to avoid it being offered in the marketplace. We were able to negotiate a competitive sale price of £6m.”
