John Lewis is to build a third super-prime shed at the largest remaining site on IDI Gazeley’s Magna Park project in Milton Keynes.
The retailer will take a 650,000 sq ft build-to-suit facility, MP3. John Lewis already occupies 1.3m sq ft in two facilities, MP1 and MP2, at Magna Park, while subsidiary Waitrose occupies 938,449 sq ft.
JLL sold all three for record yields. John Lewis, behind the ubiquitous Monty the Penguin Christmas advert (pictured), will take a 25-year lease at £5.50 per sq ft. Burbage Realty, Savills and JLL acted for Gazeley; Cushman & Wakefield advised John Lewis.
chris.berkin@estatesgazette.com
