Frontier Estates is planning a 6,967 sq m (75,000 sq ft) speculative industrial scheme on a recently acquired 1.61ha (4 acre) site at Bradwell Abbey Industrial Estate, Milton Keynes in Buckinghamshire.
The acquisition of the land is being hailed by local agents as the first purchase for major speculative development in Milton Keynes for about seven years.
Frontier will shortly submit a detailed planning permission following the exchange of contracts to buy the site from Hillsdown Holdings for around £500,000 – equivalent to £ 50,587 per ha (£125,000 per acre). Frontier has owned Hillsdown since the mid-1970s.
Lambert Smith Hampton, Downer Duff and Blacklee Smith are letting agents on the scheme, which will comprise industrial and warehouse space with ancillary offices. A rent of £55.43 per sq m (£5.15 per sq ft) is being quoted.
Blacklee Smith and St Quintin acted for Hillsdown.
EGi News 15/04/97
