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Ivanhoé Cambridge and PLP to develop 2 million sq ft cutting edge logistics project in Milton Keynes, UK

Monday, March 8, 2021

– The acquisition is one of the largest of its kind, in the south east of England, totalling 135 acres
– Planning consent is confirmed for over 2 million sq ft of industrial and logistics buildings
– The site will be developed as the first major net-zero carbon logistics park in the UK

London, United Kingdom, March 4th 2021 – Ivanhoé Cambridge and PLP announce the acquisition
of a new 135 acre logistics project located at South Caldecotte in Milton Keynes, south east England,
via their existing logistics investment vehicle, PLP UK Logistics Venture (“UKLV”). The project will
develop an exemplary business park environment for modern logistics and manufacturing occupiers
looking for high quality, flexible logistics space to serve the wider southern midlands and south east
market.

This latest acquisition and development build on the highly successful partnership between Ivanhoé
Cambridge and PLP in delivering prime pre-let and speculative logistics real estate facilities across the
UK.

The logistics sector has demonstrated its role as a keystone of the UK’s critical infrastructure during
the pandemic and continues to adapt to the rapidly shifting e-commerce logistics landscape.

The site will be the first major logistics park in the UK to be delivered with carbon net-zero construction
and carbon net-zero ready for occupation, under the UK Green Building Council Framework.

The site was assembled by Hampton Brook who promoted this strategic site through the local plan
process and successfully secured its allocation in March 2019. Following an outline planning consent
secured in November 2020 Hampton Brook selected PLP to acquire the site and lead development.

The development, which is one of the most significant investments of its kind made within the UK, is
located between Birmingham and London. The location has key access to the south east UK market,
its southern shipping terminals, airports, and rail network. The site will significantly contribute to
broadening PLP’s geographical exposure in the UK, providing access to a region that continues to
suffer from constrained supply and benefit from significant occupier demand.

On completion, the project will extend to 100 acres and comprise a range of unit sizes from 30,000 sq
ft up to 500,000 sq ft allowing PLP to meet the demands of both local businesses, last mile logistics
facilities and large scale national and regional distribution hubs totalling over 2 million sq ft of space.
The first phase of development is targeted for completion in the second half of 2022.

“This acquisition marks another significant step in our commitment to European logistics and
sustainable developments. This investment perfectly aligns with our global strategy and will stand as
a model for future logistics parks in the UK and beyond, attractive to occupiers looking for high quality,
sustainable and flexible space. We remain convinced about the opportunities in the logistics sector
and expect to continue to expand our UK portfolio alongside our partners at PLP to build a leading
platform.”, says Ajay Phull, Head of Investments UK at Ivanhoé Cambridge.

“PLP Milton Keynes will become a flagship south east scheme for PLP. The existing outline consent
means that we can deliver up to 2 million sq ft of state-of-the-art logistics facilities across a range of
unit sizes and phases. A reserved matters planning application will follow the acquisition very quickly.
On behalf of PLP and its investors, we look forward to working with all stakeholders to deliver a
sustainable logistics development fit for the future”, says Neil Dickinson, Chief Investment Officer
at PLP

“Hampton Brook is delighted with the transaction. This development will provide a major boost to
inward investment, economic development and provide significant economic growth in the region
leading to a high level of job creation, says Ian Jackson, Director of Hampton Brook.

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