Pre-let sparks speculative development - Milton Keynes

A pre-let of the first phase of a new 48,000 sq ft industrial scheme at Knowlhill in Milton Keynes has sparked the speculative development of a second phase of construction.

The three-acre site on the corner of Kelvin Drive and Roebuck Way is being developed by the regional developer, Hampton Brook, having purchased the land from Milton Keynes Development Partnership (MKDP).  A pre-let of the largest of the buildings, offering some 25,500 sq ft, has already been agreed with broadbandbuyer.com - an IT supply and distribution company - which is planning to move its operations from Linford Wood; opening the new facility in late summer 2019.

Oliver Essame, Managing Director of broadbandbuyer said: “We are delighted to be working with Hampton Brook to deliver this new high quality headquarters warehouse and office facility.  This will enable us to scale-up our business; protecting the future and growth of the company within Milton Keynes. Furthermore, it will create an excellent work environment for our people, as well as creating benefits for our customers too.”

Ground preparation works have recently been concluded with construction now underway and steels starting to dominant the skyline.  

Ian Jackson, Development Director of Hampton Brook, said: “It is great to have broken ground at Velocity and develop two commercial buildings that we believe provide a good platform to enable businesses to expand in response to their own defined market places.  Speculatively constructing the second phase will offer the best opportunity to attract and secure inward investment into the region and to nurture local technology-based businesses.”

“Velocity’s accessibility from three of the main urban ‘grid roads’ and to the A5, M1 and M40 motorways, as well as the high specification of accommodation to be constructed, is already proving popular with a wide range of end users.”

Pam Gosal, Milton Keynes Council Head of Corporate Economic Development & Inward Investment, added: “The Velocity project illustrates the growing confidence and demand in the Milton Keynes industrial sector.  I welcome this latest investment and look forward to working with broadbandbuyer.com and the future occupier of the remaining building as new jobs are created.”

The second phase at Velocity comprises an industrial/warehouse unit of some 22,500 sq ft, providing state-of-the-art, high energy efficient accommodation.  It is being offered on a leasehold basis through the appointed marketing agents - Kirkby Diamond and Louch Shacklock.

Ian Jackson concludes: “The commencement of the Velocity development follows hot on the heels of the completion of a 30,000 sq ft warehouse headquarters facility at Kingston for Reiser; an American owned and leading supplier of food processing and packaging equipment.  We look forward to delivering further development and investment opportunities across the Milton Keynes region in 2019.”

Hampton Brook is an experienced property development and investment company with a proven track record of delivering high quality employment floor space, meeting the needs of their occupier and investor clients.  The company has delivered a wide range of development projects in Milton Keynes and the surrounding region, including both traditional institutional buildings and bespoke manufacturing and engineering facilities, which reflects its ability to deliver to a wide range of occupiers and investors.