THE Kettering office market saw a boost in October with the letting of the former Newspaper House at the top of Rothwell Road, close to Junction 7 of the A14. Total Computer Networks have signed a new lease on the property, previously occupied by the newspaper group.
The letting of the circa 10,000 sq ft office accommodation, arranged over ground and first floors is significant and great news for Kettering to retain the company.
Simon Parsons from Berrys, acting on behalf of the landlord, said: “Whilst Kettering has little supply of such opportunities, companies like Total Computer Networks tend to consider the wider market place as they can be relatively footloose in their requirement. Therefore, to keep them in Kettering is a great success.”
The retention of staff in Kettering and the occupation of Newspaper House will provide a positive message to those thinking of investing in the town. The building, which is a gateway building to the town was refurbished to provide high-quality office accommodation and on-site car parking.
Simon Tilsiter of the managing agents Strettons, said: “We are delighted to see the completion of this transaction and look forward to working with Total Computer Networks.”
Situated at Junction 9 of the A14, Kings Court Phase 2 offers both owner occupiers and tenants opportunities for new office accommodation from units starting from 3,000 sq ft (278.7 sq m) arranged over ground and first floors. Units will provide a high specification including raised floors, suspended ceilings and air conditioning.
In addition, acting on behalf of retained investment client, Berrys have recently exchanged contracts on a modern office freehold investment in Newmarket. The property is let to a single tenant and produces annual rental income of circa £132,000 exclusive.
“Our client was keen to assess this sector and indeed when this opportunity presented itself, it was seriously considered,” said Simon Parsons.
Whilst the recent RICS Q3 UK Commercial Property Market Survey identifies rent expectations to be neutral in the office sector, those markets where supply is limited and rental levels reflect historic agreements, we are experiencing strong investor appetite.
If you are an owner of commercial property, Berrys would be delighted to discuss any opportunities with you. Contact, in confidence, Simon Parsons, BSc (Hons) MRICS on 01536 213169.