Medicare supplier snaps up warehouse

By Liza Helps Property Editor Logistics Matters

THE COMPANY has agreed a new lease on the Hammond 40 unit at Elms Farm Industrial Estate in Hammond Road, Bedford from landlord Mileway.

Medequip will service its new contract with Bedfordshire, Luton and Milton Keynes Integrated Community Equipment Service (BLMK CES). The contract is set to commence on 1 April 2024.

Medequip managing director David Griffiths said: “Our new Integrated Community Equipment Services contract will provide equipment to enable hospital discharge and help people who use the service live independently at home. Our new service centre will facilitate storage, issue, and recycling of equipment after a fit-out of the building to our specifications, which includes customer service offices, facilities for visitors of all abilities, and our latest cleaning and servicing capability. We are delighted to have agreed on the lease at the Hammond Road premises.”

Kirkby Diamond Industrial & Logistics Associate Paul Quy, one of two joint agents on the property said: “Having won a new contract supplying services across the Bedfordshire, Luton and Milton Keynes region, the location of Elms Farm Industrial Estate is perfect for Medequip with easy access to junction 13 of the M1 motorway and the A1 Blackcat Roundabout.”

Adroit Real Estate Advisors and Kirkby Diamond acted on behalf of client Mileway which acquired the unit in 2022.

The property was for sale via auction in May 2021 for £3.2 million through Acuitus. At the time it was let to Terinex at a rent equating to £4.48 per ft2 with fixed rental uplift to £5.73 per ft2 in March 2022.

Secondhand warehouse rents in the area for similarly sized properties range from £7 – 9 per ft2 at present.