H&M to open 750,000 sq ft shed at Magna Park

Swedish fashion group H&M is opening a new 750,000 sq ft warehouse at IDI Gazeley’s Magna Park development in Milton Keynes. The retailer has agreed a 20-year lease and will pay around £6.50 per sq ft for the site, which sits in the 62-acre Phase 2 site. The giant Magna Park campus has signed fashion tenants looking to boost their online operations. River Island and John Lewis both run their main distribution from the site. Magna Park is located between J13 and J14 of the M1, meaning the site is within a 4.5-hour HGV drive from 45.8m people in the UK. H&M has not yet revealed plans for its new facility, but it will likely be used to boost its online operations as well as hold stock for the retailer’s store and brand portfolio. In addition to its own-branded fast fashion, H&M owner Stefan Person also runs other fashion brands. It most recently launched Arket in the UK – its Nordic clothing and home collection. It also owns COS, Weekday, Cheap Monday and Monki, and & Other Stories. JLL and Savills are the letting agents. To send feedback, e-mail amber.rolt@egi.co.uk or tweet @AmberRoltEG or @estatesgazette