abrdn’s AIPUT fund (Airport Industrial Property Unit Trust) has acquired Trade City Luton, which forms part of the Kingsway Industrial Estate, for €44.6m (£38m). The industrial park offers a range of highly flexible units between 5,000 and 27,000ft². Located on the A5065, the site is one mile from Junction 11 on the M1, four miles from the airport and within 15 miles of the M25. Trade City Luton benefits from excellent rail connectivity to the Midlands, North, south into London and to a number of major regional gateway ports.
This prime 125,000ft² industrial regeneration scheme, developed by Kier in 2021, supports around 250 jobs and dovetails well with AIPUT’s strategy to actively support the nation’s logistics and supply chain resilience by investing in the critical industrial infrastructure that UK plc needs in a post-Brexit and post-Covid world.
Nick Smith, Fund Manager for AIPUT, commented: “This latest addition to AIPUT’s industrial real 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. Trade City Luton represents a key step-change in our drive to transform the resilience of AIPUT’s portfolio, helping fulfil our lead strategy to decarbonise and diversify our industrial real assets in thriving gateway markets. Responsibly regenerating and investing in the very best highly energy-efficient and highly adaptable industrial property is critical to appeal to a new breed of first and last mile occupiers and their staff. Our goal is to leverage every opportunity here 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.”