Volkswagen has re-affirmed its faith in Milton Keynes, UK with the news that it is to construct a new £25 million headquarters for its financial services building.
No contractor has yet been appointed to handle the work which will cover 100,000 square feet.
Tongwell in Milton Keynes is already the base for the headquarters of Volkswagen Group United Kingdom Ltd and the company’s financial services activities occupies a nearby building.
But the erection of an imposing, stylish building will give Volkswagen Financial Services Limited (VWFS) its own personal identity.
The first phase of demolition has already started at the former River island warehouse site, a few hundred metres from the headquarters of Mercedes-Benz, part of Germany’s Daimler, and Audi, a VW company.
The entire project is expected to be complete by the end of 2014. Planning permission was obtained in October 2012. Volkswagen has been working closely with architects PHP to develop a state-of-the-art, high specification building.
The scheme provides 100,000 square feet over four floors and, in addition to office space, it will include a staff car park, restaurant and coffee shop for staff, a large area of external green space, flexible working spaces, a theatre-style conference centre and secure cycle storage.
It is expected the new premises will see an influx of staff to the business which has been growing steadily over the years, some possibly from Germany.
The development marks a further significant investment by developers UK & European in Milton Keynes, having previously developed the 500,000 square feet River Island distribution facity at Magna Park during 2010.
Managing Director at VWFS UK, Lisa Stacey, said: “Our move to the new purpose-built site on Delaware Drive marks the commitment of Volkswagen Financial Services to Milton Keynes."
“The new building will allow VWFS to remain close to its sister company (Volkswagen Group) and provide enough space for the company to grow incrementally over the next 20 years. This will secure the future of VWFS as a major contributor to the economy of Milton Keynes.” ∎