IDI Gazeley has acquired industrial development land at Magna Park, Milton Keynes and has appointed Savills and JLL as letting agents for the scheme. Following the success of Phase 1, Phase 2 provides a further 62 acres with an additional 1.3 million sq ft (120,774 sq m) at Magna Park,
23 April 2016 – by Alexander Peace When people first visit Canada Water, says Roger Madelin, the man heading British Land’s 46-acre dockside regeneration scheme, they say two things. Firstly: “Blimey, it was easy to get here.” Secondly: “Bloody hell, this is a bit of a desolate wasteland.”
IDI Gazeley has acquired industrial development land at Magna Park, Milton Keynes and has appointed Savills and JLL as letting agents for the scheme. Following the success of Phase 1, Phase 2 provides a further 62 acres with an additional 1.3 million sq ft (120,774 sq m) at Magna Park, which is currently home to a number of major international occupiers including John Lewis, Waitrose, River Island and AG Barr. The site has planning permission for units ranging from 150,000 sq ft (13,935 sq m) to 640,000 sq ft (59,457 sq m), 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, comments: “Magna Park is one of the preeminent UK industrial Parks with an impressive list of tenants. 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.” Alex Verbeek, Senior Vice President and UK Managing Director of IDI Gazeley, adds: “IDI Gazeley has built 3.8 million sq ft at Magna Park Milton Keynes in Phase 1 and we are very pleased to announce that Phase 2 now offers a further 62 acres of immediately deliverable logistics warehousing, to continue to meet market demand.” Source link
23 April 2016 – by Alexander Peace When people first visit Canada Water, says Roger Madelin, the man heading British Land’s 46-acre dockside regeneration scheme, they say two things. Firstly: “Blimey, it was easy to get here.” Secondly: “Bloody hell, this is a bit of a desolate wasteland.” Three months into his new job, the ex-Argent chief executive will be hoping to use the former to take care of the latter. That, and a little bit of experience from King’s Cross, N1. Madelin, at Argent since 1987 and joint chief executive from 1997 to 2012, led the redevelopment of the 67 acres of mixed-use space following the firm’s selection by London and Continental Railways in 2001. All the content from this weekís magazine, including this article, is available in the new app. British Land hired him to do the same thing in Canada Water, SE16. “I don’t want to brag about King’s Cross,” he says, “but the public realm is more than half decent, and the buildings are more than half decent. There is still a long way to go… but it’s a successful part of central London.” “If the transport was put on hold in 2004, goodness knows what it would look like. We probably would have done some residential on the northern land but it would still be underdeveloped to a large extent, and a wasteland,” he adds. And if King’s Cross – a national and international rail interchange with six tube lines in Zone One – needed infrastructure, it is possible that developing Canada Water, in what could be described as the geographic armpit of London, could be problematic. Click here to read the full story Source link
