UK business park developer and manager MEPC has broken ground on a new £24 mln (€28 mln) speculative office and laboratory development at its Milton Park estate in Oxfordshire.
Park Drive East will comprise three separate buildings (141, 142 and 143 Park Drive), totalling 110,000 ft2 (10,200 m2), including a 42,000 ft2 (4000 m2) Grade-A office building, as well as two hi-tech laboratory facilities totalling 68,000 ft2 (6,300 m2).
'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,' commented James Dipple, CEO at MEPC.
The Grade A office building is expected to complete by the end of the year, while the two lab facilities should be ready in spring 2018.
Multi-disciplinary contractor, Buckingham Group Contracting Ltd, has been appointed to carry out the construction work.
