Capability Green. The office park is enjoying a rapid renaissance as major employers queue up to locate to Luton.
AN OFFICE park has bounced back to reach almost full capacity as occupiers, including major airlines, agree deals to make it their new business base.
In the past 12 months, more than 225,000 sq ft of office space has been transacted at Capability Green in Luton, transforming the fortunes of the site following significant investment in refurbishment and new facilities by the landlords.
The end of 2024 saw a 4,250 sq ft letting completed by Luton-based commercial property consultancy Kirkby Diamond and the sale of a 3,056 sq ft freehold purpose-built office building, marketed at £825,000.
Airlines flying from nearby London Luton Airport are also making it their home, with EasyJet and Tui agreeing deals on office space at the site.
Matt Bowen, partner and head of commercial agency at Kirkby Diamond, said: “Capability Green is a fantastic success story. It has enjoyed a remarkable transformation in fortunes since the post-pandemic downturn and the shift to working from home.
“The turnaround demonstrated in the past 12 months shows how the relationship between landlord and agent can work to ensure that, in challenging market conditions, delivering the right product to the market is key. Where the basics remain attractive, investment into the quality of the space offered can reap huge rewards.”
Capability Green, sited close to both the airport and M1 J10, was built in the late 1980s. Changes in working practices in the wake of the pandemic, the downturn in the office market and buildings in need of refurbishment led to occupancy levels dipping below 50%.
Kirkby Diamond relocated its Luton office to the park in 2023 and Capability Green has seen several major deals concluded since to boost its occupancy levels, including two for a total 37,000 sq ft by joint agents Bray Fox Smith and the letting of more than 6,000 sq ft to a client handled by Kirkby Diamond..
The dramatic transformation in Capability Green’s fortunes is now almost complete,” said Matt. “While the challenges persist in the office market generally, it is encouraging to see there are successes to be had and we enjoy calling Capability Green home for our own Luton office.”
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