AIPUT makes £38.4m purchase of Luton Trade City

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abrdn’s AIPUT fund (Airport Industrial Property Unit Trust) has  acquired the freehold of Trade City Luton. Trade City Luton forms part of the Kingsway Industrial Estate, located in the heart of Luton. This new industrial park, offering a range of highly flexible units between 500 and 2,700 sq m, is positioned to appeal to first and last mile logistics occupiers.  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.

The prime 12,500 sq m industrial regeneration scheme by Kier is designed to help the already growing supply chain and logistics industry flourish in the wake of COVID.

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.”

Leigh Thomas, managing director for Keir Property commented: “This sale demonstrates our ability to develop, add value and secure key occupiers in key locations.”

AIPUT’s acquisition of Trade City Luton follows swiftly on the heels of the fund’s recent acquisition of Tesla’s Crawley HQ and the nearby 9,500 sq m GIA Fleming Business Centre, both located in close proximity to Gatwick Airport.