Industrial and warehouse developers Tungsten Properties have acquired a pair of strategic development sites in Milton Keynes and High Wycombe totalling 5.1 acres.
These mark the third and fourth joint venture successes for the firm with Euro Property Investments Limited (EPIL) following acquisitions in Tamworth and Brackley.
First came the 3.3-acre Tungsten Park on Breckland Road in north Milton Keynes, which sold for £2.62 million.
Tungsten Properties has submitted a planning application for two new industrial warehouse headquarters on the site with footprints of 44,285 sq ft and 16,960 sq ft.
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These units will be available for sale or to lease and are estimated to reach practical completion in Q1 2025.
The firm also acquired the 2.8-acre Old Horns Lane in High Wycombe, less than two miles from Junction 4 of the M40.
Another planning application is in the works there for a new 44,000 sq ft industrial unit – also targeting practical completion in Q1 2025 and available on a leasehold or freehold basis.
Jeff Penman, MD 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.”
All units will target EPC A and BREEAM Excellent, with air source heat pumps, greywater harvesting, PV panels and 10 per cent EV charging spaces.
David Mole, Tungsten Properties’ development director on the Milton Keynes project, added: “Milton Keynes is booming and has a reputation for convenience and accessibility with current high demand for industrial and warehouse space.
“Our latest investment will cater for those companies desperately needing high-spec, efficient HQ industrial buildings.”
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