Cosgrove Trade Park is a terrace of former light industrial units totalling 56,000 sqft. Purchased in two tranches in 2010 and 2014, the estate has been transformed into one of Luton’s premier trade counter destinations following a phased programme of refurbishment and sub division works.
The sub division of the units and refurbishment has provided well specified and fit for purpose trade counter accommodation, increasing rents from £4.50 psf to £9.50 psf. Previously high void levels have been eliminated, and moreover the quality of occupiers has significantly improved, with the majority now let to major national brands such as Magnet, Mr Clutch, Northgate and Euro Car Parts. One unit of the Cosgrove Way elevation has been completed at a rent which is 25% ahead of previous rent. The splitting and refurbishment of Unit 16 has created two units and both are now let on new headline rents of £9.50 psf and £8.50 psf respectively. With these lettings now secured, the estate is fully occupied with a much-improved rental tone and tenant profile and shows a return on cost of 119%.