IM Properties has completed two further lettings at Phoenix House, marking the end of an extremely successful year at the Milton Keynes property.
Network Rail has taken a 2,800 sq ft ground floor retail unit on a five year lease, with the space set to be used as a first-of-its-kind ‘Doddle’ parcel delivery and fulfilment centre, while Greggs, the UK’s leading “bakery food on the go” retailer has taken a 1,000 sq ft unit.
Network Rail will be using the unit to pilot its Doddle parcel collection service, designed to provide a convenient parcel collection and drop-off service for passengers while generating additional revenue to be invested in the rail network.
Peter Louden, Project Director, said: “As a parcel collection facility, it was vital that we identified a location that was close to a major rail station and as accessible as possible for all our customers. Phoenix House’s central location with a number of large businesses and transport hubs near by means people can get to Doddle by rail, bus, foot and car, which we hope will be key to its success.”
Phoenix House is located in Station Square, adjacent to Milton Keynes railway station, just minutes from the motorway network. As part of its extensive programme of refurbishments, IM Properties repurposed the ground floor units to create space that would be attractive to a range of retail occupiers.
Simon Heydecke, Greggs Regional Property Manager (SE) said: “Phoenix House represents an excellent retail opportunity for Greggs, with its surrounding offices and the adjacent station. Both the space and location are perfect for our new “Bakery Food On The Go” format which comprises a contemporary interior that draws on Greggs’ bakery heritage, designed to meet the demands of the modern retail environment and busy Food On The Go shoppers”
The property is surrounded by blue chip companies including Santander, KPMG and HSBC.
Rob Hemus, IM Properties, said: “The lettings to Network Rail and Greggs further demonstrate the flexibility offered by Phoenix House in attracting a wide range of occupiers, both commercial and retail. We are continuing to see positive interest in Phoenix House as a location, which is testament to the quality of both the building itself and Milton Keynes as a business and leisure destination.
“The activity that we have seen this year alone is a clear indication of the value and quality offered by Phoenix House and a prime example of our commitment to provide first rate, strategically located buildings.”
This has been an exceedingly successful year for IM’s Milton Keynes property, which has seen a number of new lettings and extensions to existing occupiers’ requirements, with AirWatch adding a further 5,500 sq ft to its 20,500 sq ft of existing office space and The Gym taking a new lease of 15,500 sq ft.
Phoenix House is being jointly let by Louch Shacklock & Partners and Cushman & Wakefield with remaining space including circa 8,000 sq ft on the first floor and circa 4,000 sq ft on the ground floor.
