St Martins Business Centre, Bedford
Acquisition of a multi-let industrial estate from Aberdeen Investments for £22.25m.
The estate was let in the majority to Fuji (c.70% of income) with a range of lease expiries. Bedford industrial stock has been eroded by the increasing demand for residential.
Lack of supply has created upward pressure on rents and less choice for tenants looking to relocate or take new space.