The Crown Estate has agreed to a fund a multi-million pound leisure development, MK1 Leisure Park, with InterMK, the development company of MK Dons Chairman Pete Winkelman.
The £25m MK1 Leisure park will include a 15 screen Odeon cinema, with an IMAX, and eight restaurant units already pre-let to a range of tenants including T.G.I. Friday’s, Frankie and Benny’s, Bella Italia, Nando’s and Prezzo.
This is the second time the two organisations have worked together after The Crown Estate funded the MK1 Shopping Park on the same site last year. The Crown Estate has further strengthened its holdings in Milton Keynes by purchasing the DW health and fitness unit, located on the same site, for £7m from InterMK.
James Cooksey, head of The Crown Estate’s regional portfolio: “Our investment will build on the success we have had with the MK1 Shopping Park and the partnership we have established with Pete and his team. The scheme will make a fantastic addition to our portfolio.”
Pete Winkelman, InterMK and MK Dons said:“I am delighted we are once again working with The Crown Estate, our last project, the MK1 Shopping Park, has been such a huge success and I believe the new IMAX cinema and restaurant complex will be equally as popular. The new MK1 Leisure Park will only strengthen the overall site’s reputation as one of the most popular leisure destinations in Milton Keynes and the wider region.”
The MK1 Leisure Park will be the first time The Crown Estate has funded the development of a scheme outside of London.