Industrial developer PLP is preparing to start work on more than 1m sq ft of logistics space in Milton Keynes, following the granting of detailed planning consent.
The firm has got the go ahead to build 10 units across 1.05m sq ft in the first phase of its 135-acre PLP MK development in the Buckinghamshire town.
The units will range in size up to 308,516 sq ft, with the first expected to be ready for occupation in Q1 2023.
Phase two will add a further 1.15m sq ft of logistics space.
PLP MK was acquired in 2021 by PLP’s flagship investment vehicle, the PLP UK Logistics Venture, which is owned by majority investor Ivanhoé Cambridge alongside Peel L&P, Macquarie Asset Management and PLP senior management.
Edward Jackson at PLP said: “Milton Keynes is a premier logistics location and will provide best-in-class space to our customers serving London, the South East, Midlands and beyond. We intend to speculatively develop the consented 10 buildings immediately to meet the extremely high levels of demand from local and national businesses. PLP MK is going to be a best-in-class working environment, raising the bar and setting a new standard for our customers and our ESG targets.”
Burbage Realty, Savills and Kirby Diamond have been appointed as letting agents for the scheme.
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