Business Weekly - Cambridge, UK

HOME

Largest office development in Milton Keynes for a quarter of a century launched

Written by News Desk

Monday, 10 December 2007

CGI of The Pinnacle development Two pre-let transactions have been completed which mark the launch of the development of The Pinnacle, central Milton Keynes’ largest office development in over 25 years. Hampton Brook, the developers of the scheme, have already secured pre-lets for over 40% of the 200,000 sq ft office building to two international professional services occupiers. Construction work has already commenced on the development, located in the heart of Central Milton Keynes’ business core. The building will provide ‘grade A’ specification offices over several floors and the developers aim to achieve a BREEAM “excellent” energy efficiency rating, the first office building in central MK to do so. Offices are expected to be ready for occupation by Summer 2009. Elsewhere in Milton Keynes, Prudential Property Investment Managers has acquired Wavendon Business Park, a new office campus in the city for £40m, with Bidwells advising on the deal. Wavendon Business Park will be fully occupied by Electronic Data Systems. Phase I, comprising two buildings, is complete and already occupied while development of the two further buildings, comprising Phase II, is currently underway and scheduled for completion in May 2008. When complete, Wavendon Business Park will comprise four, two storey, office buildings totalling 150,000 sq ft occupying a site of 16.5 acres. Roger Yates, Partner in Bidwells’ Investment Team commented: “The deal demonstrates the ability of Milton Keynes to attract global corporate occupiers and mainstream institutional investors, a trend that looks set to be maintained as the town grows over the next 10 to 15 years in line with government targets.”

 

< Prev		Next >