MK:55: warehouse deal for engineering firm
July 29, 2024
A 55,000 sq ft Milton Keynes warehouse known as MK:55 has been acquired by engineering company Automotive Pumps Holdings at Bramley Road, Bletchley, Milton Keynes, for an undisclosed sum.
The freehold property, which was sold by leading international gifts retailer Sass & Belle, was marketed in excess of £5 million by Watling Real Estate.
Eamon Kennedy, executive partner and head of industrial and logistics at Kirkby Diamond, said he was particularly proud that, after selling the property in 2022 on behalf of a client, the company was subsequently instructed to purchase it for Automotive Pumps Holdings.
The property, which sits on a 2.5-acre site, has a secure gated yard, loading via two ground floor level loading doors to the main warehouse and two to the high bay section, with two-storey offices and parking for around 33 cars. In 2022, Kirkby Diamond acted on behalf of a global distribution company in the sale of MK:55 to Sass & Bell.
Eamon said: “It says a lot about Kirkby Diamond and our industrial team that, having sold the property back in 2022, we were then approached by another client with a view to acquiring MK:55 on their behalf. That’s something that we are rightly proud of.
“On this occasion, we acted on behalf of the Milton Keynes-based engineering company who called upon our advice to acquire the warehouse premises from their two existing bases in Milton Keynes.
We are pleased to say that we are currently advising the purchaser of MK:55 on the disposal of their existing premises which will hopefully be brought to the market shortly.
Paul Quy, industrial agency partner and head of agency at Kirkby Diamond’s Milton Keynes office, said: “As part of the purchasing process, Kirkby Diamond also provided building surveying advice which, in collaboration with the industrial agency team, helped to acquire the unit at a competitive market price.
“Opportunities to acquire freehold industrial space as good as this are few and far between so we were delighted to be able to secure MK:55 on behalf of our client. This once again clearly demonstrates that our knowledge of the regional market is second to none.