Investment company completes purchase of Luton industrial estateNov 24, 2020
Sundon Park Industrial Estate in Luton: Sold to a property investment company.
A PROPERTY investment company has completed the acquisition of an industrial estate in Luton.
Sundon Park Industrial Estate, at Dencora Way, consists of nine industrial/warehouse units ranging in size from 4,000 sq ft to 14,000 sq ft with secure yards.
Property consultancy Kirkby Diamond has been appointed to market vacant units, and provide advice on lease renewals and rent reviews with existing occupiers. Its head of commercial agency Eamon Kennedy advised the private investor on the purchase.
“This is an excellent acquisition for our client,” said Mr Kennedy. “”We have acted for them for many years and have helped them to grow their property portfolio across the region. They now hold a number of industrial estates within their portfolio and Sundon Park fits in perfectly with their investment strategy.”
Kirkby Diamond is negotiating all outstanding rent reviews and lease renewals, with 90% concluded, he added.
“The demand for units at Sundon Park clearly demonstrates the growing demand across Luton for industrial units, combined with a limited supply of good quality accommodation.”