Santander picks Osborne & Co to develop up to 500,000 sq ft Milton Keynes HQ

By Paul Norman - Friday, September 14, 2018 13:23

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Santander has picked Osborne and Co as its development partner for an up to 500,000 sq ft technology headquarters in Milton Keynes.

The £150m facility will act as the bank’s UK technology hub and is anticipated to open in 2022, subject to planning. It is expected to accommodate over 5,000 employees. No details have been given of the expected size of the development but it will consolidate Santander’s existing Milton Keynes office buildings.

Osborne and Co is the new global delivery vehicle for major property projects in Europe, The Middle East, Asia and Africa, developed under the UK property business of Vanguard Real Estate, which comprises the partners of Osborne and Co and Jim Kelly, ex-principal of St Francis Group.

Last month, Osborne and Co, alongside its partners in The Middle East, completed and sold HSBC’s 320,000 sq ft headquarters in Dubai.

Osborne and Co said it has been chosen as the development partner for an investment of over £150m.

It said its approach to design and construction "puts tenant needs at the heart of the development to deliver world-class modern workspace".

It is targeting a global development pipeline with a gross development value (GDV) of £5bn over the next three years. In the UK it is developing major office and mixed-use developments in Glasgow and Belfast as part of a real estate pipeline of circa £1bn across the country.

Conor Osborne, director, Osborne and Co, said: “We are naturally delighted to have been chosen as Santander’s development partner. Its new UK technology hub in Milton Keynes will set a benchmark for large scale developments in this country - and we are excited to build a world-class facility tailored exactly to their needs.

“As an occupier-focused, build to suit developer, there is increasing appetite for our product around the world as we move towards our wider global vision for growth and build upon our market-leading reputation. Our partnership with Santander follows the successful completion and then sale of HSBC’s new HQ in Dubai, which was delivered with our established platform in Dubai. Today’s news further cements our position as the real estate partner of choice to global corporations, cities and landowners.”

The firm is working with Santander to finalise designs for the purpose-built campus which will "create a best in class workspace offering space that offers flexibility, supports employees and encourages community engagement through innovative design".

It is expected that a planning application for the new campus will be submitted early in 2019 following consultation with the Local Authority and community groups.

Nathan Bostock, Chief Executive, Santander UK, said: “We are excited to be sharing our proposals for this major investment in Milton Keynes, reflecting our long-term commitment to the local area. We want a workplace which truly reflects our culture and our vision for the future, which is based on innovation and harnessing new technology to make banking simpler and more personal for our customers.

“Milton Keynes is already one of the UK’s leading technology hotspots, and with the new MK:U university on the horizon, we believe it is set to become an even greater magnet for technology talent. Our proposed new campus will give us a world-class home in Milton Keynes, which both our colleagues and the local community can take pride in.”

LOM Architecture & Design has been appointed on the development. Richard Hutchinson, director at LOM, said: “This is an exciting and progressive project working to enhance the community workplace from an external and internal perspective."

pnorman@costar.co.uk

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