Construction to commence for 1.05 million sq ft Phase 1 at PLP Milton Keynes

PLP will commence construction of Phase 1 at PLP Milton Keynes in April, having been granted detailed planning consent. The first phase at PLP MK will total 1.05 million sq ft and comprise of 10 units ranging in sizes up to 308,516 sq ft. The target delivery for the first units will be in Q1 2023.

 

The reserved matters approval launches construction of the first phase of the 135-acre site, which will be delivered within PLP’s Carbon Net Zero Commitment. PLP MK is wholly focused on providing customers with a best in a class working environment, market leading flexibility and uncompromised design.

 

Adhering to the UK Green Building Councils Net Zero Buildings Framework. PLP’s carbon net zero (CNZ) framework combines CNZ construction with CNZ ready design, to enable future occupiers to achieve CNZ operation by utilising built-in renewable energy features and procuring appropriate renewable energy supplies.

 

Phase 2 at PLP MK will follow Phase 1 and is available to deliver Design and Build units up to 1.15 million sq ft on 43.5 acres.

 

PLP Milton Keynes, was acquired in 2021 by PLP’s flagship investment vehicle, the PLP UK Logistics Venture (UKLV), which is owned by majority investor Ivanhoé Cambridge alongside Peel L&P, Macquarie Asset Management (MAM) and PLP senior management.

 

Edward Jackson at PLP, said: “Milton Keynes is a premier logistics location and will provide best in class space to our customers serving London, the South East, Midlands and beyond. We intend to speculatively develop the consented 10 buildings immediately to meet the extremely high levels of demand from local and national businesses. PLP MK is going to be a best in class working environment, raising the bar and setting a new standard for our customers and our ESG targets. We look forward to working with Winvic Construction Ltd on the Infrastructure and welcoming businesses to PLP MK.”

 

Richard Saul at Ivanhoé Cambridge: This achievement marks a major milestone in the Business Plan for Milton Keynes. The site and its design will mean that we are delivering, alongside our partners, the very best in class park and buildings meeting the demands of our customers. Incorporating PLP’s Net Zero commitment alongside Ivanhoé Cambridge’s recently announced ESG commitments means we are delivering a logistics park for the future.”

 

Burbage Realty, Savills and Kirby Diamond have been appointed as marketing agents for the scheme.

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