‘A major boost to inward investment’: Developers confirmed for logistics park projectMar 09, 2021
The site for the South Caldecotte logistics park.
DEVELOPERS have been confirmed for a new 140-acre logistics park at South Caldecotte in Milton Keynes.
Ivanhoe Cambridge and Peel Logistics have agreed the acquisition of the two million sq ft site, which will become the UK’s first net zero carbon logistics park.
Development and investment company Hampton Brook promoted the strategic site through planning and secured outline planning permission in November last year.
Director Ian Jackson said: “This development will deliver another major boost to inward investment, economic development and provide significant economic growth in the region leading to a high level of job creation.”
The site will be the first major logistics park in the UK to be delivered with carbon net-zero construction and a carbon net-zero ready for occupation rating under the UK Green Building Council Framework.
The development is seen as one of the most significant investments of its kind made within the South East. The site will significantly contribute to broadening PLP’s geographical exposure in the UK, providing access to the affluent South-East region – a region that continues to suffer from constrained supply and significant occupier demand.
On completion, the project will extend to 100 acres and comprise units ranging from 30,000 sq ft to 500,000 sq ft. The aim, says PLP, is to meet the demands of both local businesses, last-mile logistics facilities and large scale national and regional distribution hubs. The first phase of development is targeted for completion in the second half of 2022.
Hampton Brook was advised by Burbage Realty and PLP by Savills.
The project follows Hampton Brook’s delivery of more than 120 acres to Panattoni on the M1 at Northampton for a 1.6m sq ft industrial and logistics park in 2018. Panattoni has pre-let 625,000 sq ft of space to Eddie Stobart Logistics and is now on site developing three further units totalling one million sq ft.