Project
A private property company instructed BTG Eddisons to market 4.46 acres of storage land at North Luton Industrial Estate, Sedgewick Road, Luton. This is a former self-storage site with excellent motorway access, sitting close to junction 11a of the M1.
Approach
Our industrial and logistics team brought the site to market and was inundated with enquiries from day one. The strength of demand reflected a wider market dynamic, with storage land supply shrinking as more sites are acquired for development, while occupier demand continues to grow. Rents in this sector have increased by over 200 per cent in the last five years. Within seven days of launch, we agreed terms with Park Your Truck, Europe's largest truck parking operator, which works alongside major distribution businesses, including Amazon and operates over 30,000 truck parking spaces across Europe.
Results
The letting was completed within one week of the site coming to market, and we doubled the previous rent for our client. As Eamon Kennedy, Director, put it:
"We doubled the previous rent, which is a remarkable result for our client. It clearly demonstrates how valuable the experience and expertise we have within our industrial team is."
Get in touch with the BTG Eddisons team
Please contact us for more details and information.
