The first significant industrial letting in Leighton Buzzard since the opening of the A5-M1 link and Junction 11A of the M1 has been completed, national commercial property consultancy Lambert Smith Hampton (LSH) has revealed.
Packaging specialists Sovereign Partners have taken a 10-year lease on 30 Eden Way, Leighton Buzzard, a 54,253 sq ft warehouse, after LSH was appointed joint agent by landlord Chartmoor Estates.
The landlord bought the building in 2016 and undertook a significant speculative refurbishment to modernise it.
LSH’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. By ensuring that this instruction was resourced from both our Luton and Milton Keynes offices, we were able to ensure that our client benefitted from good regional coverage.”
Brasier Freeth was appointed joint agent with LSH for 30 Eden Way, which is located to the south west side of Leighton Buzzard, within the main industrial area of the town, close to the A505 bypass linking towards Dunstable and the M1. The A4146 and Leighton Buzzard town centre are less than one mile away.
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 prior to re-letting later in the year.