Monday 26th Sep 2016 - Logistics Manager

IDI Gazeley pushes on with Phase 2 at Magna Park Milton Keynes

Developer IDI Gazeley has announced it is marketing Phase 2 at Magna Park Milton Keynes, which could accommodate an additional 1.3 million sq ft.

IDI Gazeley has appointed JLL as joint letting agent on the 62-acre Phase 2 site along with Savills.

The site has planning permission for units ranging from 150,000 sq ft to 640,000 sq ft, with the consent and infrastructure in place to deliver buildings within eight months on a build-to-suit basis.

Richard Evans, Lead Director of the National Logistics team at JLL, said: “Magna Park is one of the pre-eminent UK logistics Parks with an impressive list of tenants. This acquisition was an excellent opportunity for IDI Gazeley to expand the Park as there continues to be a significant shortage of prime warehouse stock, particularly in the South East and southern M1 corridor. The ability to deliver a 650,000 sq ft unit in circa eight months sets the scheme apart from the competition.”

Alex Verbeek, Senior Vice President and UK Managing Director of IDI Gazeley, added: “IDI Gazeley has built 3.8 million sq ft at Magna Park Milton Keynes in Phase 1 and we are very pleased to announce that Phase 2 now offers a further 62 acres of immediately deliverable logistics warehousing, to continue to meet market demand.”