CBRE Global Investors has completed the acquisition of Unit A, Tongwell Street, Fox Milne, in Milton Keynes, on behalf of a separate account client.
Built in 1999, the distribution warehouse is fully let to global IT distributor, Westcoast Ltd. The warehouse is 103,644 sq ft and includes 8,977 sq ft of high-grade office space equipped with air conditioning, raised floors and suspended ceilings.
The warehouse is located within the strong ‘Golden Triangle’ industrial area, known as Fox Milne, while Milton Keynes is strategically located on the M1 corridor between junction 13 and 14. It is situated approximately 55 miles north-west of London and 70 miles south-east of Birmingham and benefits from first-class transport links by air, road and rail. The location has attracted multinational and national organisations such as BMW, TNT, Audi, Land Rover, DHL and Coca-Cola.
Chris Tucker, Fund Manager, CBRE Global Investors, said: “Unit A, Tongwell Street fits perfectly with our investment strategy of diversifying into new sectors and by location but with a retained focus towards London and the South East. The property’s characteristics are strong and so the letting prospects are extremely positive going forward.”
CBRE Global Investors was advised by FSP Property. Global real estate advisor, Colliers International, advised Bollinwater Estates LLP on the disposal.
