A Luton industrial estate could expand, attracting investment and creating new jobs, under ambitious plans for further development of the site, according to leading chartered surveyors Kirkby Diamond.
The possible expansion of Park Avenue Industrial Estate in Sundon comes after Kirkby Diamond signed up an unnamed occupier to a 10-year lease for the last remaining unit, comprising 10,000 sq ft.
Eamon Kennedy, partner at Kirkby Diamond’s Luton office, appointed agents for the estate, said the landlords of Park Avenue are exploring options for the estate, suchas developing a single occupier unit – or several smaller occupiers – on a vacant site of approximately two acres.
Demand from occupiers is growing and they face a shortage of high quality warehouse and logistics units, trade counters and small business units, said Eamon.
Demand from occupiers is growing, thanks in part to the improvements that are taking place at the new junction 11A of the M1, which is due for completion in the spring as part of the £162.1 million A5 to M1 link. But they face a shortage of high quality warehouse and logistics units, trade counters and small business units, said Eamon.
“Now that the industrial estate is at full capacity, it is clear that there is potential for further development at Park Avenue,” he said. “While the plans are at the earliest stages, it is potentially great news for the area that there could be investment and new jobs.”
Kirkby Diamond is working with a leading property investment company to explore the potential for the site.
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.
