Demand for office space in Milton Keynes is ‘set to grow’

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A property investment company based in the north of England has given Milton Keynes a glowing report.

Prospect Estates sees Milton Keynes as a key location for business growth within the UK after witnessing year-on-year increases in commercial property lettings in the area.

The company says it has seen a sharp rise in lettings in its five large commercial buildings in Milton Keynes, especially to marketing agencies and IT consultancies.

Tim Whittaker, director of new business at Prospect Estates said: “We have successfully let over 6,000 sq-ft in Milton Keynes over the past six months and have seen strong interest from local and national companies.

“What makes Milton Keynes a great place to do business is its central location with the UK. There are several thriving out of town business parks that are close to the motorway that offer modern working environments.

“Milton Keynes is an up and coming area and because of this, rent on commercial lets is at an affordable price in comparison with other cities. There is a plentitude of skilled workforce in the area and interestingly we are seeing small pockets of specific industry growth occurring such as marketing agencies and IT consultancies.”

Mr Whittaker added: “Prospect Estates pinpointed Milton Keynes as a town with major growth potential which is why we have invested in the area. We predict that over next two to three years we will see a much larger uptake of office space in Milton Keynes as the business world starts to see the benefits of positioning itself here”.

Ann Elliott, chief executive of Elliotts, a brand communications consultancy based in Sunrise Parkway Business Park in Linford Wood, said: “We moved to a Milton Keynes office to better service our clients. Many of them are based either in London or Birmingham, and our location, just minutes from Milton Keynes Central station, means we are only an hour away from any of them should they need us.”

Prospect Estates specialises mainly in the acquisition and management of large industrial premises, which are often then developed into smaller, affordable, self-contained units, so that local business can be sustained in each specific area. The company’s long-term strategy is to expand its influence within the commercial sector by actively increasing its levels of commercial investments.