Bedford’s status as a serious player in the UK’s economic growth story has been cemented this month, following two major announcements expected to drive unprecedented investment, job creation, and property market activity across the region.
Yesterday (Wednesday), Universal Destinations & Experiences confirmed it would build its first-ever European theme park and resort just outside Bedford, boosting the economy by an estimated £50bn and creating up to 28,000 new jobs.
Read: Universal Studios UK gets green light for £50bn Bedford theme park opening 2031
The government approved expansion plans for London Luton Airport just days earlier, giving Bedfordshire a double dose of development momentum.
Read: Bedford Borough Council welcomes Luton Expansion green light
Commercial property experts at Kirkby Diamond say the Universal announcement marks a “once in a generation” opportunity to reshape Bedford’s business and investment landscape.
Nathan George, head of agency at Kirkby Diamond’s Bedford office, said: “The positive impacts on our town and surrounding regions will be huge.
“Thousands of new jobs will be created, along with exciting new training and career paths. Bedford is the perfect location—well connected, full of potential, and ready to grow.”
Andrew Wright, head of land, planning and development, added: “We’ve already seen the effects in recent dealings related to the Universal proposal and look forward to continuing our work with local stakeholders as the project develops.”
The firm also welcomed news that the government had given the go-ahead for Luton Airport’s proposed expansion, which is expected to nearly double passenger capacity to 32 million a year.
Eamon Kennedy, senior partner and head of industrial and logistics, said: “With the airport expansion and Universal’s arrival, the entire region is poised for further significant growth.”
Property activity on the rise
According to new analysis by law firm Taylor Rose, Bedford has already seen one of the fastest-growing rates of property transactions in England and Wales. Between 2023 and 2024, Land Registry data shows a 17.3% rise in applications, second only to Powys in Wales.
The firm says this growth bucks the national trend and suggests strong buyer confidence in Bedford’s future.
Ruben Perin, commercial director at Taylor Rose, said: “Bedford is clearly a standout region, attracting motivated buyers and investment. Despite broader economic challenges, the recent data highlights how areas like Bedford are leading the way.”
The figures suggest Bedford is quickly becoming one of the UK’s most attractive places to live, work, and invest. Universal Studios’ commitment to the borough is expected to boost the area’s appeal further.
However, Jack Malnick, managing director of property firm Sell House Fast, has shared a cautionary view on how the project could reshape the local housing market and may not be so positive for local renters and first-time buyers.
Read: Universal Studios investment set to reshape Bedford housing market and raise rental demand
“Universal’s announcement has certainly garnered a lot of attention, and locals are right to question if the 2031 park launch is good news for them,” he said.
“The floods of visitors that the theme park will attract is likely to drive out locals but increase the number of holiday homes and rental properties near to the site,” he said.
“Whilst this may attract local investment, it’s likely that much of Bedford’s properties will be purchased by investors outside of the local economy, meaning locals are likely to see little benefit from the property ‘boom’.”
Update: This article was updated at 15:04 on 10 April 2025 to include comments about the rental market from Jack Malnick
