Letting moves major industrial estate close to full capacity
A major industrial estate in Bedfordshire is almost at full capacity following the latest letting to a national distribution company.
The GC Organisation has taken a five-year lease on a 5,703 sq ft modern terraced business unit at Bilton Way Industrial Estate in Luton, property consultancy Kirkby Diamond announced today.
The letting was completed within just four weeks, demonstrating the competition and continued high demand for good quality warehouse, distribution and industrial units, said Eamon Kennedy, partner and head of commercial agency (group) at Kirkby Diamond.
Just two of the estate’s 47 industrial and business units remain vacant, with interest from potential occupiers in both units. Kirkby Diamond has secured occupiers for a number of units at Bilton Way in recent months on behalf of landlords Henderson Global Investors.
Bilton Way, comprising industrial/warehouse units totalling 410,000 sq ft, forms part of Luton’s prime industrial area, centred around Dallow Road. The estate is 1.5 miles from J11 of the M1 and provides easy access to Luton town centre.
Kirkby Diamond advises as joint appointed agents on the estate, working alongside Tim Marden at MPAM.
Kennedy says: “We’re really proud to announce that we have secured another occupier at Bilton Way, completing the transaction within just four weeks from the date solicitors were instructed.
“Despite the obvious business challenges, the industrial market continues to prosper, with demand continuing to outstrip supply. It’s a tremendous result and clearly demonstrates that Luton is widely seen as a fantastic location to do business. Bilton Way is in an excellent location and boasts a wide range of accommodation which suits a whole host of business activities which is why it has proven to be so popular with businesses across the region.”
Kirkby Diamond is an award-winning property consultancy that supports a range of clients in finding suitable industrial properties and offices, acquiring land, developing estates, advising on funds and providing asset advice. The consultancy has almost doubled its agency team size in the past four years to cope with demand.