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.
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About CBRE Global Investors
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and Investment Company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.