Tungsten Properties, one of the UK’s leading mid-box industrial and warehouse developers, is to develop an 8.51-acre strategic industrial site on Grovebury Road, Leighton Buzzard, Bedfordshire.
The Union Park site has planning permission for a new industrial and logistics development. The existing outdated industrial units will be demolished and replaced with eight new commercial units totalling 163,940 sq ft, ranging from 14,000 sq ft to 50,000 sq ft which will house more than 200 jobs.
Grovebury Road is located just one mile from the town centre and is highly accessible off the A4146, with access to the M1 via junction 11/11a. London is 25 miles south, Luton is 13 miles east and Milton Keynes is 14 miles north.
Union Park occupies a high-profile location fronting Grovebury Road and is alongside other occupiers such as Cemex, BAE Aerospace, Aggregate Industries and Car Shop. Neighbouring Grovebury Retail Park provides amenities including M&S, Costa Coffee, Subway, KFC and Aldi.
Demolition works will start in August 2020 with the units due to be available from Q2 2021. Adroit Real Estate Advisors and Savills have been appointed letting agents.
The news follows Tungsten Properties’ recent Yorkshire acquisitions of Super B in Bradford, which will be a new 230,000 sq ft warehouse development, and the former B&Q in Sheffield for a new 170,000 sq ft warehouse along with roadside uses.
Tungsten Properties other projects under construction include Tungsten Park Witney in Oxfordshire, a 25 acre development site which will see 490,000 sq ft business park, Tungsten Park Stone in Staffordshire which totals 86,000 sq ft across four buildings, Tungsten Park Hinckley with 63,500 sq ft in two mid-box units, and Tungsten Park Bardon in Leicestershire, an 11.25 acre site with four industrial units totalling 200,550 sq ft.
Tungsten Properties’ total warehouse space currently under construction totals 670,000 sq ft, out of a committed pipeline of 1.65 million sq ft.
David Mole, associate director, Tungsten Properties commented: “It is great to add Leighton Buzzard to our growing national development pipeline. The area has not seen significant development for several years. Therefore, a strategic site such as Grovebury Road is an excellent opportunity to deliver much needed, high quality industrial and warehouse space for businesses looking to expand and relocate and create jobs.”
Lloyd Spencer, Adroit Real Estate Advisors added: “The appeal of Leighton Buzzard as an industrial and logistics location has been strengthened significantly by the opening of Junction 11A on the M1 and the A5 to M1 Link in 2017. These much-needed infrastructure improvements have given the town a fast link to the national motorway network making it attractive to businesses needing warehouse space. The site sits next to the recently developed Grovebury Road Retail Park, which will provide a good mix of amenity for the new Union Park occupiers including M&S Food, Costa, Aldi and KFC.”
Jack Booth, director in the industrial & logistics team at Savills, said: “The demand for good quality mid-box industrial units within the South East remains high. This market has suffered from a lack of supply in recent years. Therefore, Tungsten Properties’ decision to undertake this new development is very much welcomed and testament that confidence remains in the sector.”
