Planning consent granted for massive new warehouse development to be built in Milton Keynes town
A new warehouse measure a whopping 200,000 sq ft is to be built in an MK town.
The ‘urban logistics’ centre, which will be the size of three football pitches, has this month been given planning permission.
It will be sited on Blackhill Drive in Wolverton and could create hundreds of jobs.
The scheme is a joint venture between property developer Chancerygate and global real assets investment management firm CBRE Investment Management, who will deliver the scheme.
Called Axis Park and located in the established Wolverton Mill employment area, the development will consisit of eight units ranging from 6,100 sq ft to 67,700 sq ft.
Units on the 10.6-acre site are available on a leasehold basis. Construction work is expected to commence in November and it is anticipated that the first occupiers will move in during the third quarter of next year.
Neighbouring occupiers include engineering and logistics company CTDI, sports car brand Aston Martin, microelectronics business API Technologies and toy manufacturer Funrise International.
All properties at the development will target BREEAM Outstanding certification and an EPC A+ rating as a minimum. They will feature electric vehicle (EV) charging points along with solar cells which provide green energy on an affordable basis to occupiers.
In addition, the units will be constructed from high-performance building materials to reduce CO2 emissions.
Chancerygate senior development director, George Dickens, 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, commented: “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.”