The Lidl supermarket chain has exchanged contracts with Houghton Regis Management Company for land within the HRN1 development. The consortium Company includes Aviva Investors, LIH and the Diocese of St Albans.
Lidl have announced intentions to build a new depot in the HRN1 area which could see the creation of up to 1,000 new jobs. Lidl UK said it was part of its plan to invest £1.45bn in Britain in 2017-18.
The warehouse would fall in the Chalton Parish area, within Toddington ward of Central Bedfordshire.
The one million square foot warehouse on the 58-acre (23-hectare) site will be its 16th in Britain.
Lidl, which is based in Germany, has more than 690 stores in the UK.
Ingo Fischer, Lidl's board director for expansion and development in the UK, said: "We are committed to the continued investment in our operations and infrastructure to support our growth. With five new stores opening in the next two months alone, and further store expansion and development plans in place for the Greater London area across the new financial year and beyond, this new warehouse is vital in supporting our ambitious expansion plans in and around the M25."
The regional distribution centre at J11A of the M1 at Chalton, Bedfordshire, will be more than double the size of any other Lidl UK warehouse.
From the new base, Lidl UK, would service London and the Home Counties, including five new London stores being opened in the next two months at Shepherds Bush, Walthamstow Central, South Ruislip, Hornchurch and Rosehill. It also and has plans for a further five warehouses.
The deal is part of the first phase of the development of a 630-acre (255-acre) site being led by the consortium, following the opening of the new J11A.
A spokesperson for Central Bedfordshire Council said, "Lidl’s interest in coming to the Houghton Regis business park is great news for the area. The council helped fund both the Woodside Link and A5-M1 link roads. These have been key to opening up this area to businesses. Since the construction of the roads started, more than 50 new deals have been completed for industrial and distribution units across Dunstable, Houghton Regis and Leighton Buzzard, and the investment generated or planned for the area is already worth an estimated £2bn. We look forward to bringing yet more companies and jobs to the area."
The Houghton Regis Management Company are a private limited company. The Bank Of N.T. Butterfield & Son Limited registered in Bermuda has a significant interest in Houghton Regis Management Company.
The whole scheme has outline consent for up to 5,150 houses, three primary schools and a further one million square feet of commercial and retail space. For Outline Consent see CB/12/03613