Panattoni and Newport partner on £30m Milton Keynes logistics hub
Panattoni and Newport Logistics Fund have bought a five-acre development site at Yeomans Drive in Milton Keynes from Tesa UK.
The partners plan to submit a detailed planning application in Q2 for the development of a 100,000 sq ft logistics facility, which has a gross development value of £30m.
Newport launched its third pan-European fund in August last year, focused on the financing, development, leasing and sale of modern, sustainable logistics facilities.
Panattoni and Newport Logistics Fund have bought a five-acre development site at Yeomans Drive in Milton Keynes from Tesa UK.
The partners plan to submit a detailed planning application in Q2 for the development of a 100,000 sq ft logistics facility, which has a gross development value of £30m.
Newport launched its third pan-European fund in August last year, focused on the financing, development, leasing and sale of modern, sustainable logistics facilities.
Szymon Ostrowski, managing director of Newport, said: “Milton Keynes is a prime location with strong occupier demand, and this investment aligns perfectly with our strategy to deliver modern facilities that meet evolving ESG standards and generate attractive returns for our investors.”
James Watson, head of development for southern England and London at Panattoni, said: “Panattoni is offering clients modern, high-quality, sustainable space in a prime location. This investment aligns with our strategy to deliver best-in-class facilities to meet occupier demand”.
Panattoni and Newport Logistics Fund III were advised by Savills on the acquisition.
