Savills’ industrial agency team has been appointed as strategic marketing and lettings agent by Gazeley and Land Securities on its 3.4 million sq ft (315,860 sq m) Magna Park in Milton Keynes.
The team pitched against other agents including CBRE, DTZ and Colliers CRE to become joint agents with the incumbents Jones Lang La Salle and Burbage Realty. The sustainable logistics park is situated between J13 and J14 of the M1 near Milton Keynes and will provide flexible units, ranging in size from 100,000 sq ft (9,290 sq m) to 1 million sq ft (92,900 sq m). The development will incorporate the latest in environmental technologies which will also provide significant operational cost savings to occupiers.
Graham Brown, director of Savills, comments: "We are delighted to have been appointed at Magna Park, which we see as the most important and well located ‘big shed’ development sites currently in the UK. With a 650,000 sq ft (60,385 sq m) unit already let to anchor tenant John Lewis and other local occupiers including Waitrose, Mercedes, Staples and Cadburys, we are sure to see a good deal of interest in the park."
Rents at Magna Park will depend on specification and fit out, but will be in the region of £6.50 per sq ft (£70 per sq m) for the base building.