Kier Property has purchased two new sites through its £400m joint venture with PGIM Real Estate, they total 8.34 acres, a six-acre site in Milton Keynes and a 2.34-acre site in St Albans.

A 124,000 sq ft single Logistics City unit will be developed in Milton Keynes on the site which currently comprises a 66,500 sq ft warehouse building and adjacent office block.

In St Albans, Kier Property’s proposed scheme, subject to planning, will bring forward a 10 unit, 55,000 sq ft of B1, B2 and B8 industrial space under its successful Trade City brand and is located at Brick Knoll Park, Ashley Road, St Albans.

Leigh Thomas, managing director for Kier Property, said: “We are pleased to announce our fourth and fifth acquisitions through PGIM Real Estate Joint Venture which was set up in December 2021. Our plans to bring forward new industrial space at both locations will sit well with the surrounding industrial occupiers.”