Oryx Real Estate Partners acquires 5-acre logistics site in Milton Keynes

Image: Oryx

An investment and asset management firm has announced that it has acquired a 5-acre site in Milton Keynes.

Founded in 2019, Oryx Real Estate Partners specialises in deploying international private capital in the UK and European real estate markets.

The firm has now announced its new Milton Keynes project, which has an estimated development value of between £25 million and £30 million, according to Oryx.

The site was previously used by WH Barley.

"The investment aligns with Oryx’ logistics focused investment theses, which seeks to capitalize on steadily growing occupier demand for modern small- to-mid sized logistics properties meeting modern requirements," a spokesperson said.

"Current market dynamics also allows investors to benefit from the recent stabilisation in land values, which has halved from its peak in certain locations, enabling an attractive entry point for development."

The investment was made on behalf of Oryx’s Middle Eastern clients, including Saudi Arabian family offices, reflecting the growing appetite for UK real estate from the region.

Fawaz Sulaiman AlRajhi, Chairman of Oryx, added: “After a period of being active in the logistics market, we exited our positions in 2020. Following the correction in land values over the past years and the continued potential of rental growth we believe it is an opportune time to re-enter the market.

"We value the UK real estate market highly due to its landlord-friendly legislation, longstanding international interest and with attractive opportunities arising due to liquidity requirements and growing distress. This sentiment is shared by our clients, and we look forward to continuing serving them across strategies and risk profiles.”

Johan Eriksson, Managing Partner at Oryx, commented: “This acquisition is a deep value play in one of our core investment theses with compelling fundamentals, complimenting the income generation and value-add strategies we are also pursuing on behalf of our investors. Increased interest rates and economic headwinds have led to a decline in speculative development for logistics units which means that state-of-the-art, sustainable warehouse product suitable for a range of tenants will continue to command rental growth as operators commit to expanding distribution networks and nearshoring operations.

"Looking at our pipeline, we expect the near future to be busy given the opportunities available across various UK regions and real estate sectors.”

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