Bucking the trend

David Walker Commercial

1st March 2019

Focus On Corby

David Walker Commercial

David Walker from niche property agency David Walker Commercial, who specialise in Corby and its surrounding area, sees Corby as bucking the Brexit slowdown, with rising demand and few empty commercial buildings.

 

THE difference can be most plainly seen in the retail sector, where unlike most similar sized towns, Corby has active demand for its secondary shops. An expanding town population and affordable rents are enabling budding entrepreneurs to establish their business, grow and expand.

In Wood Street, on the edge of the town centre, two well known successful local business recently relocated to larger more central premises. Acting for Castle Bingo, KandaPrint, a long-established local design and print business were introduced to surplus space, and Skin Graffiti expanded into the town centre from their original studio in Rockingham Road.

David Walker Commercial also sold shops in Occupation Road and Rockingham Road, both of which were immediately let after being bought by investors.

David Walker Commercial also continue to be the most active agent on the Corbygate Business Park. Office and business units between 800 and 4,200 square feet have been let on behalf of a number of individual property investors. Relocation to larger offices in Brisbane House by Kyonet IT, Gateway HR and Thomson Broadbent, released a number of smaller offices that have also been relet by David Walker Commercial. Occupancy on Corbygate is now up at around 98 per cent with a growing list of waiting applicants looking to buy both for their own occupation and investors looking at the long-term growth prospect on this popular business park.

The occasional property comes up for sale, although they are rarely openly marketed, so registering interest in buying is needed, as properties are quickly snapped up. The only office currently available on the estate is an improved 1,125 square foot air conditioned ground floor suite, available from £12,000 pa through David Walker.

Elsewhere, the Corby office market has seen a net take up of space in most areas. Following recent freehold sales, further low-cost freehold offices are currently available on Oakley Hay. On Earlstrees Court there is the opportunity to acquire a detached office of 4,210 square feet for £25,000 pa following the existing tenant UK Innovations proposed relocation in April. David Walker have let further office suites in High Street, Sarrington House, Tunwell Land and Ryder Court, which is another indicator of the increasing demand for smaller offices in and around Corby.

We can also report that there are surprisingly few industrial and storage units available in Corby, with high demand and little supply of small and medium sized units up to 6,000 square feet in particular. Anything less than 2,000 square feet usually attracts multiple interest. For instance, a factory in Cavendish Courtyard received offers on the asking terms from several potential tenants, all of whom the landlord would have been happy to accept. Fortunately however, David Walker were able to find premises for one of the unsuccessful tenants.

Landlords are, therefore, now not really suffering from voids for smaller units in locations such as Rutherford Court, Bardsley Road, Lammas Court and Pywell Court, where David Walker Commercial have been particularly active during the last year.

With limited availability, and deep knowledge of the local market, we have also assisted occupiers in negotiations to acquire premises, including valuation advice and the preparation of Schedules of Condition.

David Walker Commercial are specialist commercial property agents, dealing with all types of commercial land and buildings in Corby, Market Harborough and North Northamptonshire. Plain advice, free market appraisals, and professional valuation reports, schedules of condition and dilapidations, rent review and lease renewal advice and expert reports.

For more information, call 01536 771588, email david@davidwalkercommercial.co.uk or visit the website www.davidwalkercommercial.co.uk

David Walker Commercial