LG Electronics, the Korean-based innovative home and business electronic product company, has pre-let unit 1, a 50,000 sq ft warehouse at Kennedy Wilson and Tungsten Properties’ project at Union Park, a new 8.5 acre strategic industrial development on Grovebury Road, Leighton Buzzard, Bedfordshire.
The new development has replaced the previously outdated buildings with eight new industrial and logistics units totalling 163,940 sq ft, with units ranging from 14,000 sq ft to 50,000 sq ft.
LG Electronics will relocate from Milton Keynes. 65 staff will move into their new building at the end of May 2021.
Unit 1 accounts for 30% of the overall project. The remaining units 2-8 will be ready in June 2021. It is expected that Union Park in total will provide employment space for circa 200 jobs.
Union Park is located just one mile from the town centre next to the Leighton Buzzard bypass which provides access via the A5/M1 link to junction 11a of the M1. 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.
David Mole, development director, Tungsten Properties commented: “Leighton Buzzard is a strategic site which has been needing high quality industrial and warehouse space for those businesses needing to expand or relocate. For LG Electronics to take the largest building at our project is testament to what we’re building and the high demand we’re experiencing.”
Lloyd Spencer, Adroit Real Estate Advisors added: “This is one of the first major lettings in Leighton Buzzard since the new A5/M1 Link Road opened, reinforcing the increasing importance of the location and its accessibility to M1, junction 11a. The urban extension to the east of the town is bringing new housing and with it a ready supply of labour for prospective occupiers.”
Adroit Real Estate Advisors and Savills are the letting agents; CBRE acted for LG Electronics.
