Bedfordshire spec scheme to start construction
Tungsten Properties is set to speculatively develop a 163,940 sq ft warehouse scheme in Leighton Buzzard, Bedfordshire.
The developer is to develop an 8.51-acre strategic industrial site to be known as Leighton Buzzard Union Park with practical completion set for Q2 2021.
The existing outdated industrial units will be demolished and replaced with eight new commercial units totalling 163,940 sq ft, ranging from 14,000 sq ft to 50,000 sq ft which will house more than 200 jobs. Demolition works will start in August 2020
The site is located just one mile from the town centre with access to the M1 via junction 11/11a..
Adroit Real Estate Advisors and Savills have been appointed letting agents.
The news follows Tungsten Properties’ recent Yorkshire acquisitions of Super B in Bradford, which will be a new 230,000 sq ft warehouse development, and the former B&Q in Sheffield for a new 170,000 sq ft warehouse along with roadside uses.
Tungsten Properties’ other projects under construction include Tungsten Park Witney in Oxfordshire, a 25 acre development site which will see 490,000 sq ft business park, Tungsten Park Stone in Staffordshire which totals 86,000 sq ft across four buildings, Tungsten Park Hinckley with 63,500 sq ft in two mid-box units, and Tungsten Park Bardon in Leicestershire, an 11.25 acre site with four industrial units totalling 200,550 sq ft.
The developer’s total warehouse space currently under construction totals 670,000 sq ft, out of a committed pipeline of 1.65 million sq ft.
David Mole, associate director, Tungsten Properties, said: “It is great to add Leighton Buzzard to our growing national development pipeline. The area has not seen significant development for several years. Therefore, a strategic site such as Grovebury Road is an excellent opportunity to deliver much needed, high quality industrial and warehouse space for businesses looking to expand and relocate and create jobs.”
Jack Booth, director of south-east i of Savills, said: “The demand for good quality mid-box industrial units within the South East remains high. This market has suffered from a lack of supply in recent years.”