The Joint Venture aims to develop the brown field site into a Trade City and Logistics City development, totalling 120,000 sq ft.
Phil Sutton, Senior Development Director for Kier Property commented: "This is a great addition to our Trade and Logistic City pipeline and builds upon the success of the brands. This scheme is our first industrial project in Luton, as we look to develop in new locations where there is strong demand and limited supply."
Shivani Goolab at Investec Structured Property added: "We have a long-standing relationship with Kier Property, supporting them across the capital stack, and this transaction increases our exposure to the high growth logistics sector alongside a proven real estate developer."
Work will begin on site in November 2019, with practical completion planned for July 2020.
Kier Property currently has a £1.8bn pipeline and has developed more than six million sq ft in the industrial sector across 47 schemes in the UK.
This article was first seen on https://www.construction.co.uk/construction-news/260566/kier-acquires-land-for-first-industrial-project-in-luton