Truck park operator Park Your Truck has signed a five-year lease on 4.46 acres of storage land at North Luton Industrial Estate.
The company provides parking facilities for truck drivers and works alongside major distribution businesses such as Amazon.
Eamon Kennedy, executive partner and head of industrial and logistics at Kirkby Diamond, which acted for the landlord on the deal, said: “We were instructed to market the storage land by a private property company and we were inundated with enquiries from day one. We were able to agree the letting to Park Your Truck within one week of bringing it to market and we doubled the previous rent, which is a remarkable result for our client. It clearly demonstrates how valuable the experience and the expertise we have within our industrial team is to our clients.
“We had multiple enquiries within days of bringing this site to market. This high level of interest underlines the growing strength of demand for storage land, as more and more sites are being acquired for development. We have seen rents increase over 200% over the last five years as demand outstrips supply.”
