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Speculative development full as two deals secured

wantspacegotspace.co.uk - Speculative development full as two deals securedProperty developers are being encouraged to consider building more high quality industrial premises following two new deals which mean a popular Dunstable trading estate is now fully let.
A total of five units have been snapped up at Chalklands Place, Eastern Avenue, since the speculative development was completed in January last year, national commercial property consultants Lambert Smith Hampton announced.
The final two deals at the site see the 3,901 sq ft units one and two leased to electrical supplies firm WF Senate, while the 3,719 sq ft units four and five have been let by Plumb Centre and Parts Centre, of the Wolsley Group. Unit three was let to Autel Intelligent Technology when the scheme first completed.
Both new tenants have signed 10-year leases after being displaced by the impending residential development of Dukeminster Trading Estate, said Dan Jackson, senior surveyor in the industrial and logistics team at LSH in Luton.
Dan added: “We are delighted that Chalklands Place is now fully let, especially as we have managed to attract such good covenants to the scheme. This success reinforces our view that occupiers are still keen to secure Grade A product in a market starved of good quality premises. Hopefully more developers will be able to capitalise on this going forward.”
Emma Simpson, of landlords IPL, said: “Chalklands Place was our first redevelopment project at Eastern Avenue and we are very pleased with how it has been received by the market. With the addition of two trade occupiers to an estate already boasting HSS and Wickes, we hope we can build on this in the future.”

Posted by The Editor (wantspacegotspace) on 7th October 2013

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