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MEPC breaks ground at Milton Park

Oxford Commercial Property Consultancy News

Oxford Commercial Property Consultancy.

MEPC breaks ground at Milton Park

Amy Williams

In the recent article published by Costar it was announced that MEPC has begun construction work at its speculative Park Drive East development at Milton Park in Oxfordshire.

The article reads "Park Drive East will be comprised of three separate buildings (141, 142 and 143 Park Drive), totalling 110,000 sq ft, including a 42,000 sq ft Grade-A office building, as well as two hi-tech laboratory facilities totalling 68,000 sq ft.

The Grade A office building is expected to complete by the end of the year, which will quickly accommodate the ongoing demand for 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 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.

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.”

Buckingham Group Contracting Ltd, has been appointed to carry out the construction work."

In the recent article published by Costar it was announced that Oxford offices outperform the rest of the UK.