A leading UK engineering group is investing about £1 million as part of its expansion plans and relocation to north Luton, chartered surveyor Kirkby Diamond has announced.
The Deritend Group Ltd, which specialises in electric motors, pumps, gearboxes and electrical controls, is investing and moving its 50-strong team from Shoolbred Works, Luton Street in the town centre to Scott Road Industrial Estate, Sundon.
The relocation will enable it to take advantage of the opportunities afforded by the opening of the £160 million M1 junction 11a, which is just 1.5 miles away. Other occupiers on the estate include Edmundson Electrical, WeatherBreak Windows, the NHS, Pirtek and Isabella Oliver.
In moving to unit 14, a 17,381 sq ft detached industrial building, Deritend will be able to significantly increase its service offering to a broad and diverse industrial and Utility client base across the South East.
It has agreed a 15-year lease for the unit after agreeing terms with Kirkby Diamond, which was appointed to market the unit.
Eamon Kennedy, head of commercial agency (group) at Kirkby Diamond, said: “With Deritend’s existing premises being redeveloped for residential use, it was seeking a new chapter in its history in Luton and recognised that the Scott Road Industrial Estate provided excellent facilities in an area that has been boosted with the opening of junction 11a.
“Deritend agreed terms before the unit was even placed to the open market, which demonstrates that a real shortage of supply remains for units such as this.”
Richard Hale, chief executive for the Deritend Group, said: “This is an exciting time in the development of our group and in particular our southern operation. We believe that the move to a modern state-of-the-art facility demonstrates our commitment to the region, with significant investment being made in infrastructure and the creation of jobs.”
Kirkby Diamond is a full service firm of chartered surveyors and property consultants. The company, with offices in Milton Keynes, Luton and Bedford, works with local and national clients to offer a total solution to their surveying and commercial agency needs.
