SHD Logistics is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IDI Gazeley launches 1.3m sq ft 2nd phase at Magna Park

IDI Gazeley launches 1.3m sq ft 2nd phase at Magna Park

IDI Gazeley has launched a 1.3m sq ft second phase at Magna Park, Milton Keynes as supply in the Midlands logistics scene reaches crisis point. JLL has been appointed agent to market the newly-acquired logistics development site.

Phase 2 provides a further 62 acres with an additional 1.3 million sq ft at Magna Park. The first phase is home to a number of major international occupiers including John Lewis, Waitrose, River Island and AG Barr.
 
Alex Verbeek, Senior Vice President and UK Managing Director of IDI Gazeley, added: 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.”

Richard Evans, Lead Director of the National Logistics team at JLL, said: “The ability to deliver a 650,000 sq ft unit in about eight months sets the scheme apart from the competition.”

The acquisition comes as CBRE claims the Midlands industrial market is reaching a crisis.

Total supply of larger warehouse units could be exhausted in six months, the firm warns.

They say deals totalling four-fifths of 2015’s take-up have completed in the first six months of 2016 – meaning just 1.92m sq ft is available, with a further 1.87m sq ft under construction.

 

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish