Chancerygate & CBRE IM to develop logistics project in Milton Keynes

Chancerygate and CBRE IM have received approval to develop Axis Park, an 18,580 m2, high-quality urban logistics facility in Milton Keynes.

Milton Keynes - CGI

Located on Blackhill Drive within the Wolverton Mill industrial zone, this development will feature eight units varying in size from 567 m2 to 6,289 m2.
These units, situated on a 4.29-hectare site, will be available for lease. Construction is set to begin in November, with the first tenants expected to move in during the third quarter of next year.
The site is strategically positioned four miles north of Milton Keynes city center, offering convenient access to the A5 and M1 motorways. Nearby businesses include engineering and logistics company CTDI, sports car brand Aston Martin, microelectronics business API Technologies, and toy manufacturer Funrise International.
A strong emphasis on sustainability means all properties at Axis Park will aim for a BREEAM Outstanding certification and an EPC A+ rating as a minimum. They will come equipped with electric vehicle (EV) charging points and solar panels which provide green energy on an affordable basis to occupiers. Additionally, the buildings will use high-performance materials to reduce CO2 emissions.
Chancerygate senior development director, George Dickens, said: “We are very pleased to be able to bring forward Axis Park in partnership with CBRE IM as part of our joint venture to deliver much-needed sustainable urban logistics space throughout the UK. There is strong demand in Milton Keynes for high specification Grade A urban logistics accommodation strategically located in proximity to the key transport links that serve the city and wider region.”
Tom James, head of UK Transactions at CBRE IM, commented: “This project represents a strategic investment into multi-let urban logistics in a high-demand, well-connected area, offering modern, sustainable space that aligns with our commitment to deliver long-term value creation for our investors. Axis Park will provide state-of-the-art facilities for local and regional businesses for whom there is limited new best-in-class space of this size in Milton Keynes.”