Ivanhoé Cabridge and PLP have bought a 135 acre logistics project in South Caldecotte, Milton Keynes.
The project will develop a business park environment for modern logistics and manufacturing occupiers looking for high quality, flexible logistics space to serve the wider southern midlands and south east market.
The site will be the first major logistics park in the UK to be delivered with carbon net-zero construction and carbon net-zero ready for occupation, under the UK Green Building Council Framework.
On completion, the project will extend to 100 acres and comprise a range of unit sizes from 30,000 sq ft up to 500,000 sq ft allowing PLP to meet the demands of both local businesses, last mile logistics facilities and large scale national and regional distribution hubs totalling over 2 million sq ft of space. The first phase of development is targeted for completion in the second half of 2022.
Ajay Phull, Head of Investments UK at Ivanhoé Cambridge said: “This investment perfectly aligns with our global strategy and will stand as a model for future logistics parks in the UK and beyond, attractive to occupiers looking for high quality, sustainable and flexible space.”
Neil Dickinson, Chief Investment Officer at PLP added: “PLP Milton Keynes will become a flagship south east scheme for PLP. The existing outline consent means that we can deliver up to 2 million sq ft of state-of-the-art logistics facilities across a range of unit sizes and phases.”