Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed three new lettings totalling c.54,000 sq ft at Nimbus Park industrial estate in Dunstable, Bedfordshire, taking the prime warehouse facility to full occupancy. Nimbus Park, which was acquired by Orchard Street in 2018, is managed on behalf of St. James’s Place UK Plc.
A total of three lease agreements were signed at Nimbus Park between March and July 2021. Clarity Pharma Ltd, the UK-based pharmaceutical consultancy, has agreed a 10-year lease at a headline rent of £9.50 per sq ft on the second largest of the scheme’s eight units, representing 23,400 sq ft of space. Clarity Pharma will benefit from the 8m eaves height and dock loading – a rare specification for a unit of this size. East and North Hertfordshire NHS Trust has also signed up to take c. 18,300 sq ft of space on a 25-year lease, at a headline rent of £9.25 per sq ft, with the letting being agreed off market. Most recently, contract manufacturer Future Design & Engineering Ltd has agreed to take the final 12,252 sq ft unit, on a 10-year lease at a headline rent of £9.25 per sq ft.