Central Milton Keynes is continuing to attract strong occupier demand despite ongoing challenges across the UK office market, with a growing number of businesses seeking larger, high-quality workspace, according to BTG Eddisons.
More than 50 office enquiries have been recorded since April by the company’s Milton Keynes agency team, with requirements ranging from small suites to occupiers seeking accommodation of up to 30,000 sq ft.
The real estate advisory firm says demand is increasingly focused on refurbished, amenity-rich accommodation, driving rental growth and reinforcing the case for landlords to invest in upgrading office stock.
The trend is particularly evident in the market for larger floorplates, with office suites of 5,000 sq ft and above emerging as one of the most active segments of the market as occupiers prioritise quality, flexibility and employee experience.
The findings come as rental values for office accommodation in the city centre continue to strengthen. Prime Grade A space on key locations including Silbury Boulevard and Avebury Boulevard is achieving rents at around £30 per sq ft, while best-in-class accommodation is commanding significantly higher levels.
BTG Eddisons said the market is increasingly polarised, with refurbished and amenity-rich offices attracting the strongest occupier interest and rental growth, while secondary stock faces greater competition.
Businesses that rely heavily on rail connectivity, public transport access and proximity to retail, leisure and hospitality amenities often favour Central Milton Keynes locations. For these organisations, the city centre environment plays an important role in attracting and retaining staff.
Conversely, many businesses continue to prioritise allocated parking, green space and lower occupational costs, making business park and out-of-town locations attractive alternatives.
As a result, both markets continue to serve distinct occupier requirements and remain important parts of the wider Milton Keynes office offer.
BTG Eddisons has recently been instructed to market space at key offices including the Michael Young Building, Moorgate House, John Ormond House, Midsummer Boulevard, Silbury House and Matrix House. Space available ranges from a 1,650 sq ft suite at Silbury House to the 52,710 entire Michael Young Building at the Open University Walton Hall Campus.
Nick Bosworth, senior surveyor at BTG Eddisons in Milton Keynes, said: “The Milton Keynes office market continues to demonstrate remarkable resilience. While occupiers remain selective, the volume of enquiries we have seen this year shows there is still healthy demand for quality workspace in the right locations.
“What is particularly encouraging is the level of activity from larger occupiers. Although these transactions often take longer to complete, requirements for suites of 5,000 sq ft and above are becoming increasingly prominent and represent some of the most active discussions currently taking place in the market.
“The clear message for landlords is that quality matters. Businesses are looking beyond simple cost comparisons and are focusing on workspace that helps attract and retain staff, supports wellbeing and provides the flexibility required by modern occupiers. Landlords who invest in refurbishment and occupier experience are achieving stronger rents and generating greater interest.”