RM signs new £357,960 annual lease deal for space in MK

[TrueBlueTerrier]

Royal Mail signs new £357,960 annual lease deal for space in MK

http://www.miltonkeynes.co.uk/news/busi ... -1-5183199" onclick="window.open(this.href);return false;

Royal Mail Group has taken a 15 year lease on a 112,000 sq ft of distribution space in Milton Keynes.

The £357,960 annual rent deal in Michigan Drive, Tongwell, has been delivered by UK & European Investments, the company behind a new 100,000 sq ft Volkswagen Financial Services (UK) HQ in nearby Delaware Drive.

UK & European sees Milton Keynes as an “increasingly strategic location”.

John Stacey, UK Asset Management Director of UK & European. said: “Over recent years, we have made significant achievements in this area through a combination of securing new tenants to our existing UK portfolio and via new Grade A development activity.

“The recent lettings complement our existing long term investment holdings in Milton Keynes, an increasingly strategic location for distribution and logistics companies.”

UK & European Investments previously developed the 500,000 sq ft. River Island distribution facility at Magna Park during 2010 and now has a total portfolio comprising 700,000 sq ft in Milton Keynes.

[britwrit]

This seems SOP for Royal Mail now. Close a mail centre, rent a warehouse (or two or three or four.)

[demon]

must be to stash the excess christmas packets .and the failed park and loop mail .from investors

[UnhappyGremlin]

This seems SOP for Royal Mail now. Close a mail centre, rent a warehouse (or two or three or four.)

I agree. And under privatisation, it will be worse.
Sell off valuable land that current sites are on, and rent somewhere else, and the profit from the sale goes to show a profit in the business, or after privatisation, to the shareholders.