The market for medium-sized warehouses is particularly active in Bedfordshire, according to national property consultancy Lambert Smith Hampton (LSH), which has completed its fourth deal in as many months.
Dan Jackson, associate director of industrial agency at LSH Luton, said there was a real need for units in the 50,000-100,000 sq ft size bracket, after logistics operator PW Gates agreed to lease the 60,008 sq ft warehouse in Hammond Road, Elm Farm Industrial Estate, Bedford.
It is the third hub for the freight forwarder specialist, which is based in Welwyn Garden City, as it looks to expand operations. The move to the three-acre site will create about six jobs initially and could rise to as many 20 when the facility is fully equipped.
Dan, who was appointed joint marketing agent by landlord Pacific REIT, said the facilities at the warehouse, plus its convenient location for the A1 and M1, made it an attractive prospect for a busy logistics business.
“With a generous yard, eight-metre eaves and dock level loading we expected the building to be well received by the market at a time when the market is starved of supply,” he said.
“PW Gates is another occupier that can see the benefits that Bedford can offer as a logistics location. With the A421 delivering great access to both the A1 and the M1, it makes a lot of sense for occupiers wanting to establish a base within the region.
“Having completed four deals of around this size within as many months, we know the mid-box market remains especially active within Bedfordshire.”
Peter Gates, director of PW Gates, said: “Due to a significant amount of new storage business we have won recently, we had an urgent need for more pallet storage. This unit was exactly right for our needs, was available immediately and is well located between the M1 and A1.
“Due to the pressures on our existing facilities and the fact that we have been using third party overspill storage, we were able to start filling the warehouse almost immediately.”
Mayor and leader of Bedford Borough Dave Hodgson said: “It is excellent to see PW Gates Distribution invest in Bedford and lease one of the largest remaining built units in the borough. Bedford’s recent and continued investment in infrastructure has seen strong demand from companies operating in the logistics and supply chain sector; coupled with available labour supply and general lower business related costs, Bedford has become the location of choice in comparison to neighbouring settlements.
“Supporting businesses and inward investment is a Council priority and we are currently working with development partners to bring forward council-owned employment sites to meet business growth demands. I look forward to working with PW Gates and other business investors considering Bedford as a location for their operations.”
