9 May 2016
Barwood Capital, a leading UK real estate investment and development business, has completed three new lettings totalling 16,300 sq ft at the re-emerging Milton Keynes business location Woodlands Business Park (“the Park”), which it acquired in October 2015 in an off market purchase for its 2015 Property Fund.
YourMK – a unique joint venture between Milton Keynes Council and the UK’s leading social housing repairs and maintenance provider, Mears Group PLC, has taken 8,800 sq ft at Cedar House to house 60 staff with space to grow; MBA Consulting Engineers Ltd, the multi-disciplinary engineering consultancy, has taken 3,500 sq ft at Maple House as a new headquarters for its growing number of 25 staff; and Nexus Business Solutions, the global service provider to the automotive industry, has expanded by taking an additional 4,000 sq ft at Larch House.
Andrew Barlow, director, Barwood Capital said: “We are delighted to have secured three lettings in the short time that we have taken ownership of Woodlands Business Park. We congratulate Nexus Business Solutions on its expansion and are thrilled to be able to play a small part in supporting its business growth in providing additional office space on the Park. We warmly welcome YourMK, Mears and MBA to the community, which join at an exciting time in the Park’s development as we strive to unlock its full potential through our investment plans to create a leading Milton Keynes business park.”
Perry Scanlon, finance director, White Clarke Group said: “It is great that Barwood Capital has been able to accommodate the expansion of Nexus Business Solutions just 100 metres from White Clarke House, our global corporate headquarters. This relocation accommodates the expansion of both organisations and has enabled us to upgrade facilities, telecommunications and our IT infrastructure in the process.”
Barwood Capital has recently submitted a planning application with a proposed new masterplan across the 12.5 acre Park to include 150,000 sq ft of new Grade A office accommodation arranged within four buildings of sizes between 25,000 to 60,000 sq ft, alongside significant landscaping improvements and estate road and infrastructure works. The purpose is to create a first class modern business environment to compliment the estate’s excellent location and proximity to central Milton Keynes.
Barwood Capital’s 2015 Fund targets sites and buildings that require investment and expertise to reposition them within specific markets where supply and demand are fuelling genuine rental growth. Barwood’s 2015 growth fund closed in July 2015 with the ability to secure more than £100m of commercial and residential property assets. Barwood Capital continues to seek well located assets with lot sizes between £3 million and £15 million that have the potential for value to be added through active asset management, planning and development.
LSH is the letting agent with Bidwells for the remaining vacant accommodation at Beech House; Bidwells and Knight Frank are the new development letting agents.