Trammell Crow has paid a record land price for Topshop’s former distribution centre in Milton Keynes.
The CBRE subsidiary paid £38m for the facility in Milton Keynes, equivalent to £2m per acre, in its first foray into the UK market.
It plans to demolish the facility and replace it with three new warehouses by the end of 2023, equipped with solar panels and charging stations for the electric vehicles that it expects will use the site.
DTRE acted for Arcadia’s administrator Teneo.
Trammell Crow is also actively looking at sites in France, Spain and Germany.
