Significant’ deal shows how A5-M1 link can create a new logistics hubSep 04, 2017
Packaging specialist Sovereign Partners has taken a ten-year lease on a 54,253 sq ft warehouse in Eden Way.
Landlord Chartmoor Estates bought the building in 2016 and undertook a significant speculative refurbishment to modernise it.
National property consultant Lambert Smith Hampton’s Luton and Milton Keynes offices jointly marketed the unit in a deal, which will see Sovereign Partners relocate from Dunstable to the refurbished unit in Leighton Buzzard.
Dan Jackson, associate director LSH Luton, said: “We expected that the new junction and the A5-M1 Link would unlock Leighton Buzzard and make it a viable logistics location for footloose occupiers looking for value along the M1 corridor.
“Interest in Leighton Buzzard has increased in recent months, both from occupiers and investors and we consider this to be a direct consequence of the recent infrastructure improvements.
“The speculative refurbishment reinforces our view that occupiers express a preference for refurbished buildings.”
Brasier Freeth was appointed joint agent with LSH for the unit, which is close to the A505 bypass linking towards Dunstable and the M1.
LSH Luton has subsequently been appointed to advise of the re-letting of the former Sovereign Partners unit at Chiltern Park, Dunstable, a detached high bay warehouse of 116,000 sq ft which will be comprehensively refurbished before reletting later in the year.