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Innovative Bites Limited

Sweet deal for Schroders at Chiltern Park

Schroder UK Real Estate Fund (SREF) has completed a 103,000 sq ft letting to Innovative Bites Limited at Chiltern Park in Bedfordshire.

Innovative Bites Limited is the UK distributor of Twinkies, Mega Marshmallows and other well known American treats. They have taken a seven year lease at a rent of £5.75 per sq ft. Lambert Smith Hampton acted for SREF alongside Strutt and Parker.
The rent of £5.75 per sq ft is a five per cent increase on the previous valuation and the letting was agreed within six months of comprehensive refurbishment works at Chiltern Park. The unit comprises a modern detached single storey warehouse of 95,000 sq ft, in addition to 8,000 sq ft of further ancillary office space and two service yards.
Lloyd Spencer, Head of Office – Luton commented: “Located just off junction 11 of the M1, this unit benefits from excellent transport connections. These connections will only get better with the completion of the Dunstable A5 – M1 link road, making this site ideal for a distribution business like Innovative Bites to base their operations.”

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