Universal deal sparks exciting ride as region is poised for major influx of investment

Bedfordshire is set for an exciting rollercoaster ride with new businesses, real estate developers and investors boosting the region’s economy after it was announced the first Universal theme park in Europe will be built in the county.

Announcing Universal’s plans, Prime Minister Sir Keir Starmer said the multi-billion-pound investment by the company would see Bedford become “home to one of the biggest entertainment parks in Europe, firmly putting the county on the global stage". 

An estimated 28,000 jobs could be created by the major attraction which is planned for the site of a former brickworks near Bedford before opening in 2031. Universal estimates the 476-acre complex could attract 8.5 million visitors in its first year.

Nathan George, head of agency at the Bedford office of leading commercial property consultancy Kirkby Diamond, said: “We are delighted to hear the news that Universal Bedford has been given the green light. The positive impacts on our town and surrounding regions will be huge. Thousands of new jobs will be created along with exciting new training and career paths too. 

“It will be a huge boost and Bedford is the perfect location, being so well connected and ready to grow. As commercial property agents we have continuously sought opportunities to bring inward investment to Bedford. 

“We look forward to working with a plethora of new businesses, property developers, investors and landlords as well as helping our existing clients to maximise the performance of their assets. The Bedford team and everyone at Kirkby Diamond is excited about this development and what it will bring in the future.”

Andrew Wright, head of land, planning & development at Kirkby Diamond, said: “It's clearly going to have a significant impact on the local and regional economy, and we have already seen the effect of this in recent dealings we have been involved in connected with the Universal proposal. We are very much looking forward to continuing with our involvement with local stakeholders as the project moves forward.”

A double boost for Bedfordshire

The Universal announcement came just a few days after the government’s go-ahead for the proposed expansion of Luton airport, giving Bedfordshire a double boost. Kirkby Diamond is confident that these two recent development announcements will herald a “once in a generation” boost to the region’s commercial property market, attracting major business investment and creating thousands of new jobs.

It was announced that London Luton Airport, currently the UK’s fifth busiest, will be allowed to almost double in capacity after the government overruled planning inspectors who recommended blocking the scheme on environmental grounds.

Transport secretary Heidi Alexander granted a development consent order for the airport’s plans to expand its perimeter and add a new terminal, allowing for a potential 32 million passengers a year. Around 16.7 million people used the airport last year. It is well situated for the Oxford-Cambridge arc championed by Chancellor Rachel Reeves for future economic growth.

Eamon Kennedy, senior partner and head of industrial and logistics at Kirkby Diamond, said: “There is growing confidence in Luton as an excellent place to do business. With the announcement of the airport expansion and now Universal coming to Bedford, it’s clear that the entire region's economy is soaring and poised for further significant growth".