PLP has gained detailed planning consent for a single 1m sq ft logistics facility at Milton Keynes.
The shed forms the 44-acre second phase of the PLP MK project. Features will include a clear height of 21m and a total cubic capacity of around 1.75m cubic metres. PLP said works are expected to begin in “the near future”, on a pre-let or speculative basis.
Works on the first phase of the development, which measures just over 1m sq ft across 10 speculative units, are underway. Practical completion of the final unit is expected in January 2024.
PLP MK was acquired in 2021 by PLP’s UK Logistics Venture investment vehicle, which is owned by majority investor Ivanhoé Cambridge alongside Peel L&P, Macquarie Asset Management and PLP.
PLP development director Edward Jackson said it will deliver a “rare landmark facility”.
“Not only is the scale unprecedented for the South East, but the specification is unmatched,” he said.
Savills and Cushman & Wakefield are the marketing agents for the scheme.
See more planning information for Milton Keynes>>
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