Property developer HBD has completed a deal with Shoal Group for an 85,000 sq. ft. building at Luton’s Butterfield Business Park.
The purpose-built building will comprise warehouse space spanning 70,000 sq. ft. plus high-spec office space covering 15,000 sq. ft. across two floors.
Following completion later this month, and handover by HBD, a bespoke fit-out process will begin prior to Shoal Group moving in later this year, joining a host of occupiers across the 83-acre scheme.
Butterfield Business Park has expanded quickly since work began in 2019, offering a range of options for large businesses and SMEs and delivering 350,000 sq. ft. of new space across 17 units. A further 450,000 sq. ft. of development is planned across the scheme.
This latest deal will provide new opportunities for local employment and has been hailed as an exciting and significant step for the Shoal Group, supporting its next phase of growth.
Léonie Pannell, Commercial and Finance Director at Shoal Group said: “Having outgrown our current facilities, this new HQ will give us the space we need to deliver on our ambitious growth strategy. A modern new building, it will allow us to make the best use of modern technology to improve work processes and, better insulated and powered by solar and renewable energy, will also support our environmental goals.”
Adrian Schofield, Senior Director and Head of Region at HBD, said: “Butterfield Business Park offers an ideal location for Shoal Group; a hugely successful business looking for purpose-built space to support its rapid growth.
“We have seen consistently strong interest in the scheme given its great transport links, high-quality space and local skills base – Shoal Group joins a well-established community and I’ve no doubt Butterfield Business Park will prove an ideal location for its new HQ.”
Butterfield Business Park is home to both large businesses and SMEs, providing a range of options. Its Quad development completed in early 2019, with all ten units let or under offer before PC. It was quickly followed by the second phase of the scheme last year, providing a further 85,000 sq. ft. across five units. HBD is currently working on plans for the third iteration of the popular development.
Part of the Henry Boot Group, HBD is one of the UK’s most successful property developers. Working from six regional offices from Glasgow to London, its award-winning team focus on three key sectors; urban regeneration, residential and industrial and logistics.
Its London portfolio includes a host of large-scale regeneration projects, including Airport Business Park Southend, a JV with Southend-on-Sea City Council, and Momentum, a next-generation sustainable industrial and logistics development in Rainham, on the banks of the River Thames. The project is being delivered in partnership with Barings.
Adroit Real Estate Advisors, LSH and Cushman & Wakefield are the agents on the scheme.