CBRE Investment Management (CBRE IM) and Chancerygate have been granted planning to speculatively build a 200,000ft², Grade A urban logistics development in Milton Keynes.
Called Axis Park and located on Blackhill Drive, the development will comprise eight units ranging from 6,100ft² to 67,700ft².
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.
The site is located four miles north of Milton Keynes city centre and is in close proximity to the A5 and M1.
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.
Head of UK transactions at CBRE IM, Tom James, said: “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.”
