Abrdn fund buys Kier’s Trade City Luton

Abrdn’s Airport Industrial Property Unit Trust has bought Kier Property’s 125,000 sq ft Trade City Luton in Bedfordshire for £38.4m. Close to Junction 11 of the M1 and four miles from Luton Airport, the multi-modal logistics hub comprises flexible units of between 5,000 sq ft and 27,000 sq ft. Tenants include Evolution Ceramics, Euro Taste and Gopuff. Trade City Luton has EV charging stations and smart energy metering and boasts EPC A and BREEAM Very Good ratings. Nick Smith, fund manager for AIPUT, said: “Trade City Luton represents a 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. “Our goal is 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.” To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @EGPropertyNews Photo from Kier Property