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14 May 2008
River Island Flows Into Magna Park, Milton Keynes
River Island, advised by Savills, has agreed terms for a freehold 450,000 sq ft (41,805 sq m) distribution centre at Magna Park, Milton Keynes with joint owne...

13 May 2008
April's Decline In Commercial Development Acivity Was A New Survey Record
Almost one-third of commercial developers reported a fall in overall activity in April, compared to just 12% that signalled a rise.

12 May 2008
Broadway Chambers, Hammersmith, Sold
PRUPIM, advised by Savills, has sold its leasehold interest in Broadway Chambers on Hammersmith Broadway, London, as part of a merged interest sale with the f...

12 May 2008
Stratford Literary Festival Declared A Resounding Success
The Stratford office were proud to be principal sponsors of the inaugural Stratford-upon-Avon Literary Festival 2008. Nearly 2,000 people, the majority local,...

12 May 2008
Childrens Dream Home - UK Future Home Buyers Shun The Apartment Blocks Boom
If the Government's ambitious housebuilding targets are met, by the time the UK's current crop of 5-11 year olds are old enough to buy their first home, an ex...

12 May 2008
The Great Venn, Herefordshire - An Idyllic Rural Retreat
Savills has been instructed to sell The Great Venn, a delightful 17th century timber framed house, some 4 miles south of Bromyard, 12 miles from Worcester and...

09 May 2008
Hill View Farm - An Alternative Investment?
Savills are bringing Hill View Farm at Old Marston to the market for the first time since it was bought in 1952 by the Ward family.

09 May 2008
Productive Block Of Arable Land At Rodden Farm, Dorset
Sitting close to the Jurassic Dorset coastline with panoramic views of The Fleet and Chesil Beach, the land at Rodden Farm totals approximately 104 acres of a...

08 May 2008
New Group Chief Executive Takes Over
Aubrey Adams, Group Chief Executive, has retired from Savills following the company's Annual General Meeting in London yesterday (7th May 2008). He has been r...

08 May 2008
Savills Launches The Manor House Of Suttons
Saturday 10th May sees the launch of one of the most prestigious Manor Houses in Essex. The Manor, at Stapleford Tawney, is a beautiful regency building, whic...

07 May 2008
Interim Management Statement
Savills, the international property adviser, publishes its Interim Management Statement for the three months ended 31 March 2008.

02 May 2008
Savills Gains Specialist PR And Marketing Team
Savills has announced moves that aim to strengthen the marketing communications function of Savills (L&P) Limited (its residential and related services subsid...

02 May 2008
New Hat-Trick Of Deals At Carnival Park
A joint-venture between Easter Group and Legal & General's Industrial Property Investment Fund (IPIF), advised by Savills and Glenny, has completed the sale o...

30 April 2008
Savills Survey Predicts Bullish Rents And Uncovers Worker Preferences
New office developments will be the driving force behind upward rental growth in 2008, according to a recent survey carried out by Savills Research for the No...

30 April 2008
Savills Brings Brundish Lodge To The Market
Savills is pleased to announce that they have been instructed to sell the historic Brundish Lodge, at Woodbridge, in Suffolk. Available to purchase as a whole...

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14 May 2008

River Island Flows Into Magna Park, Milton Keynes

River Island, advised by Savills, has agreed terms for a freehold 450,000 sq ft (41,805 sq m) distribution centre at Magna Park, Milton Keynes with joint owners Gazeley and Land Securities. The fashion retailer paid in excess of £20 million for the land element.

This move will consolidate River Island's current two distribution centres at Tongwell, which Savills is also advising on the disposal of. The new building at Magna Park is expected to be completed for operational purposes in Spring 2009.

Graham Brown, director of Savills, comments: "As one of the most important and well located 'big shed' development sites currently available in the UK, Magna Park is the perfect location for River Island. The new well-configured units will perfectly meet the retailer's requirements."

The 3.4 million sq ft (315,860 sq m) distribution park is situated on J13 of the M1 near Milton Keynes and will provide modern flexible units, ranging in size from 100,000 sq ft (9,290 sq m) to 1 million sq ft (92,900 sq m). The first unit totalling 650,000 sq ft (60,385 sq m) has been pre-let to anchor tenant John Lewis. Other local occupiers in the area include Waitrose, Mercedes, Staples and Cadburys.

Jones Lang La Salle and Burbage Realty jointly advised Gazeley and Land Securities.

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CONTACT INFORMATION

For further information please contact

Graham Brown, Savills
+44 (0)20 7409 8123
gebrown@savills.com

Sarah Farndale, Savills press office
+44 (0)20 7409 8020
sfarndale@savills.com


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