One of Europe’s leading truck parking operators got in the fast lane to acquire a site for a new facility in Bedfordshire, commercial property consultancy Kirkby Diamond announced today.
Kirkby Diamond’s industrial agency team was instructed to market the site and completed the letting of 4.46-acres of storage land at North Luton Industrial Estate, Sedgewick Road, in just seven days.
Park Your Truck has signed a five-year lease on the former self-storage site which is close to junction 11a of the M1 motorway. The company provides parking facilities for truck drivers and works alongside major distribution businesses such as Amazon.
Eamon Kennedy, executive partner and head of industrial and logistics at Kirkby Diamond, said: “We were instructed to market the storage land by a private property company and we were inundated with enquiries from day one.
“We were able to agree the letting to Park Your Truck within one week of bringing it to market and we doubled the previous rent, which is a remarkable result for our client. It clearly demonstrates how valuable the experience and the expertise we have within our industrial team is to our clients.”
He added: “We had multiple enquiries within days of bringing this site to market. This high level of interest underlines the growing strength of demand for storage land, as more and more sites are being acquired for development. We have seen rents increase over 200% over the last five years as demand outstrips supply.”
Park Your Truck is Europe’s largest truck parking operator. It offers truck parking spaces in the close vicinity of its customers’ depots or production sites and operates them according to customer requirements with its own 24/7 security service and yard management.
Park Your Truck has a unique strategy to turn corporate spaces, airport/trade fair or stadium areas into truck parking spaces and has already created over 30,000 additional truck parking spaces in Europe. A large number of these are now being electrified for commercial vehicles and equipped with night charging points and fast charging points.
This deal was concluded by Kirkby Diamond’s Industrial & Logistics team. With strategically located offices within the M25 and along the M1/A1 and M11 corridors, the team offers a unique blend of local expertise and regional reach. This combination allows them to provide tailored advice to institutional investors, landlords, developers, and occupiers, positioning us as one of the region’s top-performing property consultancies.