Orchard Street secures c. 30,000 sq ft Dunstable industrial letting following ESG upgrades

A total of 135 kWhr peak of solar PV panels installed across three units, to cater for robust occupier demand for flexible, energy efficient space in prime locations. 

Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed a new letting with Shankar Foods Ltd, a leading UK world foods wholesaler, at its Nimbus Park industrial estate in Dunstable. Shankar Foods has agreed a five-year lease across one of the estate’s seven units, taking 28,936 sq ft at a headline rent of £10.50 psf to support its distribution activity and UK expansion.

The letting follows a comprehensive refurbishment of the unit, which was delivered with sustainability in mind, transforming the estate’s green credentials and improving its EPC rating to B. The refurbished facility utilises LED lighting and offers generous parking, with electric vehicle charging points to encourage sustainable travel. Shankar Foods will also benefit from a secure yard and 8.75m eaves height. In line with Orchard Street’s commitment to increasing renewable energy usage across its portfolio, this unit has been fitted with rooftop solar PV panels projected to generate more than 53 MWhrs of renewable energy each year.

The refurbishment forms part of a wider retrofit programme at Nimbus Estate, with a focus on solar PV installation. Unit 3, which is still available to let, has been upgraded to EPC B, with the project delivering c. 13,000 sq ft of high-quality industrial space, complete with 8.75m eaves height, a level 1 access loading door, parking and air-conditioned offices. Occupiers will benefit from EV charging points and LED lighting, alongside solar PV panels projected to generate 222 MWhrs of energy each year. Separately, solar PV panels have been installed across Unit 1, generating 22 MWhrs of renewable energy and reducing energy usage and cost for the occupier.

Strategically located within a cluster of industrial parks in Dunstable, Nimbus Park benefits from excellent access to the M1, and is situated only 2.5 miles from Junction 11 and 2.7 miles from Junction 11A. The site is also within close proximity of the M1/M25 junction, located just 16 miles to the south, providing easy access to national logistics and distribution routes.

Josh Quinton Smith, Asset Manager at Orchard Street, commented: “To have quickly secured a tenant for our recently refurbished space is testament to the ongoing demand for modern, sustainable buildings that are strategically located within major industrial hubs. As part of our efforts to increase the energy efficiency of our portfolio, our Nimbus Park refurbishment has included the roll out of 135 kW of solar panels, alongside various other upgrades to improve the EPC ratings of the units. We will continue to evaluate the ESG credentials of our assets with the understanding that investing in sustainable buildings is not only the right thing to do but continues to attract a range of discerning occupiers who recognise the financial, corporate and environmental benefits of occupying these spaces.”

Orchard Street was advised by Adroit Real Estate Advisors and Hollis Hockley.