Major road schemes like those under way in and around Dunstable will boost industry and reduce travel times across many parts of the UK.
That’s the verdict of national commercial property firm Lambert Smith Hampton after new research on the Government’s road improvement programme.
The company says projects such as the A5-M1 Link and Woodside Link in Dunstable will benefit the industrial and logistics market by unlocking hundreds of hectares of development land and encouraging rental growth
Lambert Smith Hampton analysed around 50 infrastructure investment schemes proposed by the government over the past year under the umbrella plan ‘Investing in Britain’s Future’ and other initiatives.
The ‘Roads to Riches?’ report focuses on seven planned and proposed schemes that Lambert Smith Hampton expects will have the most impact on the industrial and logistics sector.
One of the schemes highlighted is the A5-M1 Link and Woodside Link in Dunstable on which work has already started. The A5-M1 Link is a 2.8- mile dual carriageway which will run east from the A5 just north of Dunstable to join the motorway.
The Woodside Link road will provide a more direct route for traffic, especially heavy goods vehicles, from Houghton Regis and the industrial estates in Dunstable to the M1.
Both schemes will join the M1 at the new junction 11a. They are intended to relieve Dunstable and surrounding areas of significant congestion and reduce through traffic using the A5, while unlocking hundreds of acres of development land to meet growth aspirations.
Lloyd Spencer, of Lambert Smith Hampton in Luton, said: “The industrial and logistics market along the M1 corridor is experiencing a period of growth. Not only will these projects relieve key congestion hotspots, removing concerns for potential occupiers, but travel times will be significantly reduced from major employment areas in Houghton Regis, Dunstable, Leighton Buzzard and north Luton to the M1.
“We anticipate these new roads will act as a catalyst for rental and capital growth, particularly in some of the less accessible, more congested locations. We predict rents will experience an increase of around 10 per cent following completion of these roads and that as much as 80 hectares of employment development land will be unlocked, helping to address an emerging shortage in supply.”