Abrdn signs trio of tenants for Milton Keynes office

Abrdn has secured three tenants for its Milton Keynes office building the Pinnacle on behalf of a pension fund. MHA, Woodfines Solicitors and Mercer & Hole have agreed to take a combined 25,000 sq ft of grade-A office space across three separate transactions. It is understood that Abrdn expects to achieve rents exceeding £30 per sq ft. Each of the occupiers are relocating from existing offices in Milton Keynes. The Pinnacle was built in 2009 with funding provided by an Abrdn client. The complex comprises circa 200,000 sq ft of office space. The asset manager is investing in repositioning the building, along with One Grafton Mews. Works will create a new reception entrance with a café, an “enhanced” business lounge facility and new urban courtyard garden providing additional breakout and recreational facilities for occupiers. Health and wellbeing amenities will also be improved. Ben Buckley-Sharp, fund manager at Abrdn, said its investment “reflects our belief in a vibrant Milton Keynes office market”. He added: “The office sector has evolved significantly over the last 15 years, and this has been accelerated post-Covid by the occupier appetite for buildings with strong ESG credentials and enhanced health and wellbeing amenity for their staff. “As part of our proactive asset management philosophy, we are taking the opportunity to reposition the Pinnacle with a significant investment programme to benefit both our existing occupiers, but also to respond to the demand for a first-class working environment.” TFT, KJ Tait, and Office Principles are consultants on the Pinnacle. Check out lettings in Milton Keynes >>