IDI Gazeley has acquired industrial development land at Magna Park, Milton Keynes and has appointed Savills and JLL as letting agents for the scheme.
The second phase of development provides a further 62 acres and 1.3m sq ft at Magna Park, where occupiers presently include John Lewis, Waitrose, River Island and AG Barr.
The site has planning permission for units ranging from 150,000 sq ft to 640,000 sq ft, with the consent and infrastructure in place to deliver buildings within eight months on a build-to-suit basis.
Toby Green, director in the national industrial & logistics team at Savills, said: “This acquisition was an excellent opportunity for IDI Gazeley to expand the park as there continues to be a significant shortage of prime warehouse stock, particularly in the South East and southern M1 corridor. The ability to deliver a 650,000 sq ft unit in circa eight months sets the scheme apart from the competition.”
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