Leading developer and manager, MEPC, has commenced construction work at its speculative Park Drive East development at Milton Park in Oxfordshire.
Park Drive East will be comprised of three separate buildings (141, 142 and 143 Park Drive), totalling 110,000 sq ft, including a 42,000 sq ft Grade-A office building, as well as two hi-tech laboratory facilities totalling 68,000 sq ft. The Grade A office building is expected to complete by the end of the year, which will quickly accommodate the ongoing demand for high-quality office and laboratory space in Oxfordshire. The two remaining buildings are expected to complete in spring 2018.
The development is situated on a 7.6-acre site located towards the eastern end of the leading science and business park. It also falls within the Science Value UK Enterprise Zone, which offers businesses taking space in the new scheme to apply for business rates discounts of up to £275,000.
All three buildings have been designed and specified with a high level of flexibility in mind, which will appeal to science and technology companies embarking on research and development activities. New occupiers will benefit from being close to the already impressive occupier mix at Milton Park.
James Dipple, CEO at MEPC, said: “The development will be the largest ever speculative build of its kind at Milton Park and in Oxfordshire, with the acute lack of commercial space in the area, coupled with our exceptionally low void levels at Milton Park, we are confident that it will be well received.
“The accommodation will provide the opportunity for new businesses to join the Milton Park community, help satisfy requirements from within our existing customer base and maintain Milton Park’s position as the premier business location and destination of choice for science and technology businesses within the region. We look forward to announcing new lettings at Park Drive East in the near future.”
In developing workspaces suitable for the thriving science and technology sector, MEPC is able to drive job creation and growth in the region. The new development at Milton Park has the potential to create 1,000 new jobs, which will support the Vale of White Horse and South Oxfordshire District Councils’ plans to deliver 20,000 new jobs over the next 20 years. .
Multi-disciplinary contractor, Buckingham Group Contracting Ltd, has been appointed to carry out the construction work.
