AFTER another active year, David Walker, Director of David Walker Commercial is seeing a shortage of decent industrial and commercial space in and around Corby.
“Prospective tenants are saying the same thing; they expected more property on the market and more choice. Many premises are let straightaway.”
On behalf of Greenacre Developments, David Walker pre-let all of Greenacre House, in Corby’s Old Village.
Greenacre completed the purchase of the former florist in October, and immediately set about internal refurbishment, dividing it into three shops, all of which were pre-let. Not only that but three first-floor office suites were also let before building work was completed, with 11 The Jamb now home to six local businesses involved in hair and beauty, florist, and recruitment and marketing offices.
Ben Green of Greenacre is now on the hunt for their next long term Corby project.
It has been the same story for small industrial and workshop units, with one tenant moving in as soon as a former tenant vacates. At Lammas Courtyard, David Walker filled all five workshops that were vacated last year straightaway, and just like at The Jamb had more tenants than available units.
David is reporting a shortage of premises around Corby, with some record rents negotiated, and is actively looking for more property to market.
Yet again, David Walker Commercial were the most active agent on the Corbygate Business Park for the third consecutive year. 2016 saw numerous lettings and some sales, and again there was multiple interest in the smaller units.
Attractive offices at Adelaide and Brisbane House were let to expanding local companies, giving the opportunity for some smaller office and studio units to be made available. There were also some sales of smaller premises, with a ready market of often cash buyers for these low value properties. David reports that there are active unsuccessful buyers still looking for opportunities on the development.
Rents on Corbygate are highly competitive, with the 4,200 sq ft former NITAL office with 20 car parking spaces available from only £6.50 per sq ft through David Walker Commercial.
Expansion from one former Corbygate tenant, UK Innovations, led to them renting a detached 4,150 sq ft office from David Walker on nearby Earlstrees Court, one of four lettings on that Courtyard completed by David in 2016.
David Walker Commercial also continue to act for The Original Bedstead Company. His tenth transaction involved the acquisition of a 20,000 sq ft factory in Sallow Road from Synergy Flavours. David quickly followed with his eleventh, selling their former showroom in Weldon to a London-based marketing company, taking advantage of the area’s relatively low values, and excellent location in the centre of the UK.
2016 also saw the last of the refurbished industrial units at Crawley House occupied, and all available workshops at Iron Pit Close let, leaving only an air conditioned office suite available on the site.
So, 2017 has started well, with positive signs for local business. The only caution is the shortage of new property coming to the market, with David Walker Commercial as always looking for new marketing opportunities.
For more information, call 01536 771588, email or visit the website www.davidwalkercommercial.co.uk