Demand for industrial space

There will undoubtedly be a need for industrial space to support the development of the theme park. Bedford is already a recognised distribution location due to its proximity to the M1, with prime rents of circa £13 per sq ft in Bedford and £15 per sq ft in nearby Milton Keynes. 

We expect to see continued growth in Bedford’s prime industrial rents, not only from potential suppliers to the new theme park but also from the increased influence and awareness of the Oxford-Cambridge Growth Corridor.

Infrastructure upgrades

In addition to the impetus the proposed development will give to the East West Rail proposals – the first phase of which between Oxford and Milton Keynes is anticipated to open later this year – Universal has committed to an upgrade of the train line and station in the new town of Wixams to the south of Bedford and adjacent to the proposed theme park. 

Expect to also see renewed enthusiasm for the next phases of East West Rail to include Bedford and then on to Cambridge.

Improvements to the A421 and to central Bedford train station are also in the pipeline, supporting tourists and daily commuters long after the park opens.

Potential for new homes

On housing, the government has committed to 1.5 million new homes in this parliament. The new plans will not only raise general awareness of Bedfordshire, but will make this a key area for continued housing development.

Construction of the new town of Wixams started in 2007 and plans for further phases will make sense and are likely to grow in popularity.

Wider benefits

A major tourist attraction also signals the need for more travel accommodation. Whilst the Universal plans include a 500-bed hotel, there will be a wider need across the region to support the anticipated 8.5 million annual visitors to the park.

Local educational institutions, like Kimberley College, Bedford College, and Cranfield University, will also receive a boost with plans by Universal to partner up to offer training programmes, apprenticeships, and internships to equip young people and workers with skills for long-term careers. Universal notes that 50% of its resort management staff globally began as hourly workers.

While Bedford sits in the centre of the Oxford-Cambridge Growth Corridor, benefitting from knowledge-based industries growth, including technology, science and innovation, the new dimension added by Universal Studios and the associated development makes it an exciting time for the town and wider region.

Further information

Contact Henry Godsal or Tom Fraser