Our View on

M1 South INDUSTRIAL 

The first half of 2019 saw take-up in Milton Keynes already exceed that achieved in 2018 as a whole, helped in part by Amazon’s pre-let of Altitude at Magna Park. Overall, 1.1m sq ft were let in Milton Keynes over the last six months, pushing down the availability rate to 7%.

Northampton saw trend levels take-up during the last six months, with an availability rate is approaching 4%. While there is 1.5m sq ft of space under construction, almost two thirds of this is under offer.

The announcement of the Silverstone Technology Cluster encompassing a region within an hour of Silverstone Park will boost future demand. In the short term, existing robust demand in both Milton Keynes and Northampton has driven upward rent movements with further growth expected over the coming years.

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£8.50 psf

Prime rents in Milton Keynes compared to £7.50 psf in Northampton

71.4 

Growth in rents on unrefurbished space in Milton Keynes since 2013

 

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