Tungsten Properties Acquires Two Sites for Industrial Schemes
Posted by UK Property Forums on 20th February 2024 -
A joint venture between Tungsten Properties and Euro Property Investments Limited (EPIL), has acquired strategic development sites in Milton Keynes and High Wycombe, totalling 5.1 acres.
A 3.3-acre site at Breckland Road, north Milton Keynes, now named Tungsten Park, was acquired for £2.62 million. The site, to the north of the city centre in an established business park location close to local amenities which include Costa Coffee, McDonalds and Linford Wood Park. Neighbouring occupiers include Amazon and TalkTalk.
A planning application has been submitted for two new headquarters industrial warehouse units (see CGI above) which will be for sale or to lease. Unit 1 will have 44,285 sq ft and Unit 2, 16,960 sq ft. Target date for practical completion is Q1 2025.
The other site is Old Horns Lane in High Wycombe, 2.8 acres, less than two miles from J4 of the M40.
A planning application is soon to be submitted for a new industrial unit which will total 44,000 sq ft (see CGI below). Practical completion is targeted for Q1 2025 and the unit will be available on a leasehold or freehold basis.
All buildings have been designed to incorporate the latest sustainability technologies including carbon offsetting initiatives. The units will target EPC A and BREEAM Excellent and include 10 per cent EV charging with 90 per cent passive spaces, alongside air source heat pumps, grey water harvesting and solar panels.
Jeff Penman, managing director of Tungsten Properties, said: “In 2024, we continue our strategy to increase our development pipeline by acquiring these two strategic sites in Buckinghamshire.
“Both sites are in well-connected areas with a strong workforce already employed in the manufacturing, transport and storage sectors.
“Our investment will bring new, high-spec buildings and jobs to meet the strong demand from businesses needing new or expansion warehousing space.”
Cushman & Wakefield and Adroit Real Estate Advisors are commercial agent for Milton Keynes while BNP Paribas Real Estate and Colliers are instructed for High Wycombe.
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