Knight Frank has taken the decision to move in now in order to capitalise on future developer instructions as the Milton Keynes South Midlands growth area prepares for almost 170,000 new homes.
The new office in Central Milton Keynes expects instructions totalling 1,000 new homes by the end of this year. It is already instructed as selling agent on 285 new homes at Wolverton Park by national developer Places for People and on The Hub in Central Milton Keynes, where Frontier Estatesâ€™ and Crest Nicholson are building 117 apartments.
The office is manned by a team of five, headed by Iain Jamie. Knight Frank is well established throughout Oxfordshire and the Midlands and has been instructed on Â£75 million of residential developments and land disposals in the MKSM sub-region. Mr Jamie said: “However, our strategic focus has extended to fully embrace the MKSM growth area.”
The government has planned for 169,800 new homes in the MKSM area by 2021, including 44,900 for Milton Keynes. Its location, infrastructure, transport links and house price to earnings ratio made it more affordable than elsewhere in Buckinghamshire and the Home Counties, Knight Frank believes.
Mr Jamie said: “The city has emerged as the regional centre for the MKSM growth area, and its rapid expansion to date sets the pace for future development. The appeal of Milton Keynes also lies in the fact that the Oxford Cambridge Arc cuts across the MKSM area.” Its aim, to boost knowledge-based industries was “a sound indication of the regionâ€™s prospects for future prosperity.”
Mr Jamie added: “Milton Keynes itself has a strong record for economic growth. This trend bodes well as Knight Frank gears up to play a key role in the delivery of the MKSM growth areaâ€™s housing requirement.”