- Available supply currently sits at 1.15m sq ft which is broadly in-line with the end of 2013. However, this reduces to 760,000 sq ft when properties ‘under-offer’ are excluded.
- Most size ranges are now under supplied, although there is still a cluster of available units around 10,000 sq ft.
- Less than 20% of supply is refurbished.
- Demand remains patchy, although a number of freehold requirements remain unsatisfied.
- Prologis are due to complete construction of DC1 this month, a 310,108 sq ft speculatively built Distribution Centre in Dunstable.
- Pending the completion of DC1, the largest available unit is currently A-C Portland Close, Houghton Regis (pictured), which totals 51,177 sq ft.
- The investment market has been quite active with sales at Airport Executive Park and Bilton Way both completing this year. The latter was purchased by Henderson and is one of the largest estates within Dallow Road, with 47 units totalling 408,267 sq ft.
- Following the purchase of Bilton Way last month, Henderson have already instructed the refurbishment of two of the vacant units, as part of an ongoing commitment to deliver refurbished product to the market.
For an annual comparison of Luton industrial supply by size, click here.