The Crown Estate are funding a 10,000 sq ft extension to MK1 Shopping Park in Milton Keynes for £8 million, reflecting an initial yield of 5.25%.
The site is located adjacent to the MK Dons’ Stadium:MK in Milton Keynes.
The new 10,000 sq ft building will be let to JD Sports and Carphone Warehouse at rents of £40 – £50 psf, with a further 3,750 sq ft remaining to be let.
The new property will form a link between MK 1 Shopping Park and MK! Leisure Park, both of which were funded/acquired by The Crown Estate and will thus compliment their existing holdings.