Buckingham Group Contracting Ltd has been appointed by leading developer and manager, MEPC, and commenced construction work at their speculative Park Drive East development at Milton Park. This is the first milestone in MEPC's 12-month development pipeline for one of the regions’ largest speculative office and laboratory developments.
Park Drive East will comprise of three separate buildings (141, 142 and 143 Park Drive), totalling 110,000ft2, including a 42,000ft2 Grade-A office building, as well as two hi-tech laboratory facilities totalling 68,000ft2. 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.
The breaking ground ceremony took place on Friday 3rd February at Park Drive East to mark the start of construction. In attendance were James Dipple, CEO of MEPC, Philip Campbell, Commercial Director at MEPC, local MP, Ed Vaizey and the Buckingham Group site team.
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.
For further information, please contact:
Redwood Consulting +44 (0)20 7828 5553 / +44 (0)7545 318 691
NOTES FOR EDITORS
MEPC Limited provides, creates and develops the right buildings and working environments for modern organisations, helping companies grow, succeed and belong to vibrant business communities. By investing in long term relationship with customers, MEPC understands the ever changing needs of business and delivers property solutions that are fit for purpose.
The business estates managed by MEPC accommodate over 350 organisations and circa 10,000 people working in manufacturing, professional services, and leading edge science and technology. The on-site teams consistently exceed expectations through their professionalism, dedication and approachability.
Investors benefit from this unique approach to working with occupiers which produces consistent class leading returns.
Milton Park is home to 8,500 people and 250 organisations. As one of Europe’s largest business parks, Milton Park accommodates all types of business, from manufacturing and medical services to mobile technology. By having such a large and eclectic variety of companies and individuals, creates an environment that is inclusive, as well as exclusive.
MEPC is the manager and developer of Milton Park and for further information, please visit www.miltonpark.co.uk
About Buckingham Group
With a company history spanning over 60 years, Buckingham Group Contracting Ltd is a major multi-disciplinary contractor with a turnover approaching £400million. We are an established Principal Contractor providing a range of fully integrated, versatile and flexible services to Public and Private sector Clients across most of England and Wales. Operating from our Head Office, near Silverstone, and regional office in Warrington our services include:
- Railways and rail engineering
- Rail Stations including new build and refurbishment
- Highways, bridges and structures
- Major Infrastructure works for development sites
- Sports stadia and leisure facilities
- High quality Building projects to BREEAM Excellent
- High quality Offices, distribution warehousing and manufacturing facilities to BREEAM Excellent Major highways and structures
- The delivery of complex site remediation projects
- Demolition and deconstruction projects
For further information please contact:
Buckingham Group Contracting
Silverstone Road, Stowe
Buckingham, MK18 5LJ
Tel: 01280 823355