An independent broadband network provider has secured a long lease on a new industrial unit in Luton in a deal backed by commercial property consultancy Kirkby Diamond.
CityFibre has taken a ten-year lease on a 3,864 square foot unit at The Quad – an industrial warehouse program located in Butterfield Business Park. The development consists of ten industrial units ranging from 3,864 sq ft to 19,996 sq ft and enjoys good access to London Luton Airport and Luton Airport Promenade.
Eamon Kennedy, head of Kirkby Diamond’s sales agency, acting on behalf of a private investor, secured the new occupant.
“It’s fantastic to welcome CityFibre to The Quad,” said Kennedy. “Their arrival is linked to their signing a contract to provide fiber broadband to Luton over the next few years.”
He added: “We have reached a new headline rent on the estate. Demand for industrial stock is still strong and rents are increasing quarterly due to the lack of supply. This new development provides high quality business housing in a convenient location with excellent access to London Luton Airport and the M1 and M25 motorways.”