The purchaser has paid an undisclosed sum for the first phase of the development, officially opened by Her Majesty The Queen in November last year. With the second phase, it will comprise a total of one million sq ft of hotels, restaurants, retail, offices and 600 apartments.
Andrew Crowther, joint managing director of Frontier Estates, said: “Developing thehub:mk has been an exciting journey for us and we are extremely proud to have succeeded in delivering the first mixed use scheme of this type in Milton Keynes.
“It brings city centre living to Milton Keynes for the first time and it is the first Milton Keynes 24/7 experience, bringing people to live, work, meet, dine and shop in stylish, modern and environmentally friendly surroundings.
“As a development company, our intention was always to sell once we had completed the first phase of this scheme and we are delighted with the price we have achieved. “
The deal was negotiated and agreed last year.