commercial property lambert smith hampton

News - 15/09/2016

Sweet deal for Schroders at Chiltern Park

Schroder UK Real Estate Fund (SREF) has completed a 103,000 sq ft letting to Innovative Bites Limited at Chiltern Park in Bedfordshire.

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Innovative Bites Limited is the UK distributor of Twinkies, Mega Marshmallows and other well known American treats. They have taken a seven year lease at a rent of £5.75 per sq ft. Lambert Smith Hampton acted for SREF alongside Strutt and Parker.
 
The rent of £5.75 per sq ft is a five per cent increase on the previous valuation and the letting was agreed within six months of comprehensive refurbishment works at Chiltern Park. The unit comprises a modern detached single storey warehouse of 95,000 sq ft, in addition to 8,000 sq ft of further ancillary office space and two service yards.
 
Lloyd Spencer, Head of Office – Luton commented: “Located just off junction 11 of the M1, this unit benefits from excellent transport connections. These connections will only get better with the completion of the Dunstable A5 – M1 link road, making this site ideal for a distribution business like Innovative Bites to base their operations.”