PLATFORM_ secures planning approval for largest Build-to-Rent Scheme in Milton Keynes city centre

22 Jul PLATFORM_ secures planning approval for largest Build-to-Rent Scheme in Milton Keynes city centre

18 July 2024 – Leading build-to-rent (BTR) developer, investor and operator PLATFORM_ has secured planning permission to deliver 355 BTR apartments, that will set a new benchmark for quality and resident experience in Milton Keynes city centre, just a five-minute walk from Milton Keynes Central station.

Milton Keynes is positioned at the heart of the Oxford-Cambridge Arc with high tech businesses contributing 18% of all employment growth. PLATFORM_’s proposals for the largest BTR scheme in Milton Keynes will contribute to the fast-growing city’s ambitions to reach a population of 410,000 by 2050.

Located in Milton Keynes city centre on the central spine road of Midsummer Boulevard, the scheme will provide 355 thoughtfully designed homes, over 8,000 sq ft of high-quality resident amenities, 7,500 sq ft of landscaped terraces and a flexible 2,600 sq ft commercial offering.

The development is in an unrivalled city centre location. The train station is just a five-minute walk away and its proximity to an abundance of local amenities including The Hub MK, Centre:MK and Campbell Park, aligns with the 20-minute neighbourhood model.

The mix of studio, one, two and three-bedroom apartments will appeal to a wide range of residents, including local families and those working in Milton Keynes or commuting to nearby towns and cities. The planning approval includes an agreement for PLATFORM_ to make contributions to the council of £5.7m, including an affordable housing contribution of £3.9m to support Milton Keynes City Council’s delivery of its affordable housing targets.

The energy-conscious and sustainable design will combine renewable energy sources, smart in-home technologies and energy efficient heating and lighting systems, to create a low carbon development with all apartments being EPC B or better. This includes the use of air source heat pumps, sustainable urban drainage and solar panels across the development.

Residents will also benefit from multiple electric vehicle car charging points and car club parking spaces, encouraging people to reduce individual car ownership. More than 500 cycle spaces will be available to help residents prioritise active travel solutions.

PLATFORM_ in Milton Keynes also has strong biodiversity credentials, with a biodiversity net gain of 72% – over seven times the current legislative benchmark of 10%.  This is helped by the inclusion of swift bricks and bird and bat boxes across the development, which have been woven into the design following feedback from the local community.

An economic impact assessment undertaken by Turley on behalf of PLATFORM_ highlights that 190 jobs and £61.2 million GVA will be created during the construction phase and £1.2 million GVA in operation, of which £800,000 will be in Milton Keynes.

The development will reach up to 20-storeys and feature a wide variety of generous on-site resident amenities including a dedicated co-working hub, residents’ lounge, games room, cinema room, gym, bar and private dining room. Residents will also benefit from an onsite resident services team and a loyalty scheme in partnership with local businesses.

There will be three outdoor terraces for residents to enjoy including a dedicated pet zone, child-friendly play area and landscaped garden on the 1st floor. Terraces on the 14th and 17th floors provide panoramic views across the city and facilities for an outdoor exercise area and space for entertaining friends and family.

PLATFORM_ pioneered the institutional BTR sector when it launched nationally the UK’s first branded concept in 2016. This will be PLATFORM_’s 11th development and follows on from the recent completion of over 1,000 new BTR apartments in Cardiff, Sheffield, and Glasgow, as part of a combined operational portfolio and development portfolio of £1.2bn.

Jean-Marc Vandevivere, CEO at PLATFORM_ said: “Milton Keynes is at the heart of the Oxford-Cambridge Arc and is fast becoming a leading centre and focus of innovation in the UK. We are incredibly pleased to bring our innovative residential model to the city centre, just a five-minute walk from the train station, with a development that prioritises sustainability, wellbeing and resident experience.

“Importantly, PLATFORM_ will contribute to bridging the gap between supply and demand of high-quality homes in the city-centre of Milton Keynes while setting new design, service and quality standards. The unrivalled flexibility coupled with the range of social amenities will be attractive to a wide range of residents.”

Matt Willcock, Development Director at PLATFORM_ said: “Throughout the planning process, we have engaged collaboratively with Milton Keynes City Council officers to ensure that our development matches their vision, reflecting Milton Keynes’ new city status, as well as fostering relationships with local businesses and the wider community as we underline our long-term economic and social investment in the city.”