Developer Barwood Capital has submitted a planning application to build 150,000 sq ft of premium office space in four buildings on the site, which it purchased in October for its 2015 Property Fund.
Demolition work has begun at Oak House, the former headquarters of BSI, which Barwood wants to replace with a 60,000 sq ft office building (pictured). It is one of four ranging from 25,000 sq ft to 60,000 sq ft in Barwood Capital’s new planning application.
Woodlands Business Park currently houses nine buildings totalling 100,000 sq ft. Existing planning consent is already in place but Barwood Capital has adapted its plans and submitted the new planning application to include the replacement for Oak House, an estate road and infrastructure works.
Director Andrew Barlow said Barwood Capital’s plans will address the shortage of office space in Milton Keynes. He added: “Woodlands Business Park is a business community where great companies are thriving.
"The Park presents an excellent opportunity to create a really outstanding business environment and we are excited at the prospect of unlocking its full potential with our masterplan and investment plans.”
Letting agents for the new development are Bidwells and Knight Frank. LSH and Bidwells are the agents for the remaining vacant accommodation at Beech House.
Milton Keynes Council’s head of corporate economic development and inward investment Pam Gosal said: “We are delighted that Barwood Capital continues to invest in Milton Keynes as a leading business destination.
"The Woodlands development plans will play an important part of our vision to promote inward investment as we approach Milton Keynes’ 50-year milestone in 2017 and celebrate the city as a great place to live, work and visit.”