MK’s parks people buy chunks of other cities

Runners in one of the parks in Milton Keynes
Runners in one of the parks in Milton Keynes

BITS of other cities are being bought up to help pay for the green spots in Milton Keynes.

The Parks Trust has spent £14.39 million on commercial property in Birmingham, Cardiff, Leeds, Nottingham and Bath.

A new Tesco Express store in Bath has also been scooped up for £1.35 million.

The trust uses the income from commercial property rents to maintain the green spaces in Milton Keynes.

More than half of the trust’s properties are now located outside Milton Keynes but it remains a large landlord in the city with tenants occupying modern offices, workshop units, shops, restaurants, leisure facilities, pubs and hotels.

Jenny Strathern, property director at The Parks Trust, said: “Our commercial property portfolio generates the majority of our income so, as a self-financing charity, we have to ensure that we manage it wisely to secure the long term future of Milton Keynes’ treasured parks and green spaces.”

The Trust was advised by law firm Geoffrey Leaver and property investment consultants Torrin Asset Management.

The acquisitions include a Vauxhall dealership, a prime high street shop, a retail development comprising a Halfords and Burger King in Leeds, and a Land Rover dealership in Nottingham.