Potter Learoyd Commercial made a prediction one year ago that Corby was ‘on the up’ and this has been supported by a healthy number of new initiatives, deals and developments.
Infrastructure
The Southern Relief Road opened and new roads are in at Prior Hall Park.
Potter Learoyd Commercial made a prediction one year ago that Corby was ‘on the up’ and this has been supported by a healthy number of new initiatives, deals and developments.
Infrastructure
The Southern Relief Road opened and new roads are in at Prior Hall Park. There is improved broadband speed across the town and a proliferation of electric car charging points and other green energy projects.
Leisure / Retail
The town centre has a leisure and retail offering to be proud; a national gym operator at Willow Place, Weatherspoons’ new pub ‘The Saxon Crown’ and Savoy Cinemas complex including three national restaurant chains (Prezzo, Nandos and Steak House).
There will also be a new restaurant in the ground floor of Grosvenor House.
Offices
This market is healthy with encouraging levels of transactions plus the exciting prospect of two very sizeable office lettings about to happen – one to a PLC business and the other, an up-and-coming utility company moving into Corby from out of town. On the supply side the office market is well provided for through Rockingham Business Centre, Corby Business Centre, Corby Enterprise Centre, Edinburgh House and Darwin House on Corby Gate Business Park. There is a lack of ‘Grade A’ office space in the town and two local developers are considering speculatively building office space to take advantage of demand and stop larger office occupiers locating in other towns.
Industrial / Warehousing
A fantastic year for deals in this sector with Staples taking 525,000 sq ft on Mitchell Road and Smyths Toys taking 500,000 sq ft at Max Park; these lettings represent two of the largest transactions in the Midlands and prove further that Corby is seen as a viable location for large regional distribution centres. Alpha Court is now fully let and we have been involved in a healthy number of other transactions including the acquisition of a site for trailer manufacturer Lawrence David Ltd on Geddington Road.
Local and national developers are close to starting to speculatively build schemes in the town.
Land
Corby has always had plenty of spare development land and whilst that is still the case there are numerous spinning plates that could dramatically change this current supply dynamic. Leaving the detail aside we are involved with three separate land deals:
one involves a national logistics company wanting 15-20 acres, the second an international manufacturer of building products wanting 15 acres to build a new UK HQ and the third is a global operator needing a new UK base and are sizing up three land options in Corby.
Outlook for 2015
We think the developers will soon start developing both office and industrial / warehouse schemes as rents on existing quality space will rise. Corby will continue to attract more national companies who have to date ‘shied away’ from locating in the town.
For more information, contact Potter Learoyd Commercial on 01536 560400 or email