SEKO Logistics has taken NFU Mutual’s 151,960 sq ft High Standing warehouse in Milton Keynes.
Seko Logistics has agreed a new 11-year lease and will pay £888,919 a year equating to £5.84 per sq ft.
Benefiting from 12 metre eaves and fully fitted offices on the ground and first floor, High Standing also includes 12 dock and two level access doors, a 50 metre yard, 159 car parking space and 15 lorry spaces.
David Hidderley, investment fund asset manager at NFU Mutual, said: “Following the comprehensive refurbishment, High Standing was the only Grade A industrial space available in Milton Keynes.
“That, combined with its tactical location close to both transport links and the cities industrial hub, made it highly desirable for prospective tenants. We are pleased to welcome Seko Logistics whose business we believe will benefit greatly from this highly specified unit.”
Charlie Spicer, associate director at Savills, says: “Milton Keynes is a strategic industrial hub in the UK and demand for good quality property there is high.
“Having first been appointed as the letting agents in Autumn 2013 we received a strong level of interest right away and are pleased to have secured the right tenant for our client.”
NFU Mutual was advised by Savills and Jones Lang LaSalle while North Rae Sanders represented SEKO.