Industrial estate busy as logistics boom continues
Growing demand for property in the warehouse and logistics sector is driving activity at a major industrial estate, in Bedfordshire, which is now almost at full capacity.
Kirkby Diamond announced it has completed the letting of an 8,586 sq ft unit, at Bilton Way Industrial Estate in Luton, to SBS Ballustrades, and the letting of a 10,109 sq ft unit to Vision Logistics, which operates in the distribution sector. A 14,421 sq ft warehouse unit, which will soon be fully refurbished, is now being marketed.
Eamon Kennedy, partner and head of commercial agency (group) at Kirkby Diamond in Luton, said: “It’s been a tough year for many business sectors but the industrial and warehouse commercial property market in the region is bucking the trend.
“It continues to prosper, with demand continuing to outstrip supply. The activity at Bilton Way industrial estate, with two lettings and significant enquiry levels, clearly demonstrates that Luton is widely seen as a fantastic location to do business. It is in an excellent location and boasts a wide range of accommodation which is why it has proven to be so popular with businesses across the region.”
Just four of the estate’s 49 industrial and business units remain vacant, with interest in two from potential occupiers. A unit of 8,554 sq ft is under offer. 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 420,000 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.