PLP completes two leases at PLP Milton Keynes to KWB & Master Distribution

PLP has leased MK 37 to Master Distribution, a third-party logistics (3PL) operator, and MK 15 to KWB London, a bespoke cabinetry manufacturer, at PLP’s 2.2 million square feet (sq ft) logistics park in Milton Keynes, PLP MK.

Both the 37,000 sq ft and 15,000 sq ft units will provide Master Distribution and KWB London (respectively) with energy-saving technology, a secure yard and highly specified offices. These market-leading HQ facilities will enable both businesses to continue their rapid expansion, with both businesses having outgrown their former premises.

These leases follow the recent leasing of MK 147 to Kegstar and MK 70 to Huel in 2024. MK 37 and MK 15 are two of the 10 highly specified industrial and logistics units at PLP MK (Milton Keynes) business park, which totals 1.06 million sq ft and ranges in size from 15,000 – 310,000 sq ft.

The broader site also offers a design and build opportunity on 44 acres (phase 2), which is fully serviced, plateaued and consented to develop immediately. PLP MK has achieved Carbon Net Zero status, as per the UK Green Building Councils Net Zero Buildings Framework, for all units developed on the site.

PLP MK is held in PLP’s first flagship investment vehicle UKLV1, which is capitalised by majority investor Ivanhoé Cambridge (the real estate group of CDPQ) alongside The Peel Group, Macquarie and PLP.

Edward Jackson, Development Director at PLP, commented: “PLP MK is designed to provide a best-in-class environment for businesses of all sizes, so to secure two fast-growing brands within a month that are both aligned with the ESG credentials of PLP is a brilliant result. PLP looks forward to seeing both KWB London’s and Master Distribution’s continued growth and success.”

Savills, Cushman & Wakefield, and Kirkby Diamond advised PLP.