'Boxy' warehouse in Milton Keynes sells for millions of pounds

The 64,000 sq ft Pacific House building is on Kiln Farm and has been bought by Pacific Logistics, the distribution firm that has occupied it for the past eight years.

Commercial property consultancy Kirkby Diamond announced the deal today (Tuesday),

Their commercial head Eamon Kennedy said: “Mid-box industrial/warehouse units are in high demand right across the region and there is a well-documented shortage of supply.

" We were pleased to be appointed to market Pacific House and we had discussions with the existing occupiers, Pacific Logistics.”

He added: “The distribution company was very keen to remain at the premises and wanted to avoid it being offered in the marketplace. We were able to negotiate a competitive sale price of £6 million.”

The building was owned by Poetic Gem, a clothes and fabric wholesale company that is part of PDS Multinational.

Two storeys high, it has office accommodation above, dock height loading doors, a secure gated yard and onsite parking.

Meanwhile, another industrial unit is up for sale in Milton Keynes this month, this time on Blakelands.

Advertised on Realla onlien agents with a price tag of £1.5m, it consists of three terraced units on the industrial estate’s Midbrook Court it and offers a total of more than 9,000 sq feet of space.

The units are of modern steel frame construction with reinforced concrete floor slab and insulated colour-coated steel wall cladding, the description states.

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