AXA Investment Managers – Real Assets, on behalf of clients, has bought a development site in Luton with planning consent for more than 400,000 sq ft of distribution space.
The site is located adjacent to junction 11a of the M1 and will be developed by Baytree Logistics, AXA’s pan-European and industrial development platform.
Baytree has appointed Savills and Doherty Baines to market custom-build opportunities on the site to prospective occupiers.
The scheme will comprise two units. One will offer 355,965 sq ft, including a 344,954 sq ft shed. The second will total 54,520 sq ft.
The two plots include space for offices as well as parking and could be leased to one occupier or separately.
Preparation of the site is due to begin imminently with the larger unit available for occupation in Q1 2017.
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