The Airport Industrial Property Unit Trust (AIPUT) has announced the acquisition of Trade City Luton, which forms part of the Kingsway Industrial Estate located in the heart of Luton and just four miles from London Luton Airport.
The new industrial park offers a range of units between 5,000 and 27,000 sq. ft. and is positioned to appeal to first and last mile logistics companies making the most of the Luton’s growing status as a rapidly expanding commuter town and multi-modal logistics hub in close proximity to the airport, as well as rail connectivity to the rest of the UK, including a number of major regional gateway ports.
Trade City is proving to be a popular location for a wide range of business sectors, having attracted three new lettings already in 2022 and only two units currently vacant.
“This latest addition to AIPUT’s industrial real estate asset portfolio represents our first investment in Luton, an incredibly well-connected but supply-constrained South-East town that is making huge strides in building back better following the brutal challenges of recent times,” said Nick Smith, Fund Manager at AIPUT.
“Our goal is to leverage every opportunity [at Trade City Luton] to use our asset management skills to unlock real long-term value for people and businesses, as much as working to enhance the bottom line. Key will be promoting and plugging into the greener transport of goods and people through Luton’s extensive multi-modal supply chain networks,” he added.
AIPUT’s acquisition of Trade City Luton follows swiftly on the heels of the fund’s recent acquisition of Tesla’s Crawley HQ and the nearby 95,000 sq. ft. GIA Fleming Business Centre, both located in close proximity to Gatwick’s Airport.