You may have seen the news that MEPC’s parent company, Federated Hermes, has announced the completion of a £376 million financing deal for Milton Park.
The new financing replaces the previous £200 million mortgage loan with Barings and will ensure Milton Park can continue to provide high-quality, flexible spaces for companies of all sizes.
The financing was led by Barings Real Estate with support from HSBC UK, reflecting continued confidence from global lenders in Milton Park as a key centre for innovation and research.
Supporting the 2040 Vision
The deal will support the Park in delivering the ambitious Vision 2040 plan, which sets out a roadmap to enhance Milton Park’s role as a leading hub for science, technology and innovation.
Partnership with Barings and HSBC UK
Philip Campbell, Commercial Director at Milton Park, said: “The successful completion of this financing represents a significant milestone for Milton Park. It not only reflects the strength of the relationship with our investor partners including CPP Investments but also demonstrates how global lenders share confidence in our vision and long-term business plan for Milton Park.
“I am delighted that we have been able to continue our longstanding partnership with Barings and to welcome HSBC UK onboard. Following the adoption of Milton Park’s second generation LDO (a 10 day simplified planning regime permitting up to 4.2 million sq ft of development) this finance will help ensure that Milton Park retains its position as one of the UK’s leading research and innovation hubs, enabling us to continue providing high-quality, flexible solutions for both existing and prospective occupiers of all sizes to pioneer their technologies.”
The refinancing deal coincides with the exciting Signal Yard amenity development, which will become a new community hub and vibrant destination, offering a vibrant mix of food & beverage, retail and leisure venues.
At the heart of Science Vale
Milton Park, located in Oxfordshire’s Science Vale, is home to over 280 companies, from innovative start-ups to global leaders across life sciences, biotech, green energy, healthtech, advanced engineering and more. Covering more than 300 acres with nearly 3 million square feet of office, lab and research space across 87 buildings, it is one of Europe’s largest single-owner innovation campuses.
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