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Strong performance in market

COMMERCIAL property consultants Budworth Hardcastle have reported that Corby has attracted and secured a significant number of commercial transactions in the town over the last 12 months that has been secured with a combination of strong performance by local companies expanding and attracting significant inward investment.

There has been significant activity in the food sector, with Budworth Hardcastle involved in two significant transactions including the sale of Mercury House on Princewood Road on behalf of UK Greetings to an international food group who are substantially refurbishing the 144,811 sq ft building that included 2.9 acres of expansion land and is said to become a major employer in the town.

Additionally, Budworth Hardcastle were also involved in the letting of Unit 3 Saxon Way West, formally occupied by Amy’s Kitchen to Blue Sky Holdings on behalf of Adelie Foods. The factory taken is a fully fitted food production unit totalling 55,854 sq ft (5,188 sq m).

Following the exit of the long-established Phoenix Foods from the town, Units A & D Cooks Road on the Weldon North Estate, became available totalling approximately 44,377 sq ft (4,122.6 sq m) and a new lease was secured to Smurfit Kappa as further expansion to their existing operations in the town.

The Tyson and Cronin Courtyard scheme has also experienced a great deal of success over the last 12 months securing the letting of 22,000 sq ft to Network Rail and 16,000 sq ft to Ifoam who are specialist manufacturers of intumescent and PU foam solutions for the transport and insulation industries. A further letting of units G and H totalling 12,000 sq ft to Capital Injection Ceramics is part of their continued success.

Budworth Hardcastle can confirm that the Hybrid 14 building totalling approximately 47,000 sq ft is currently under offer and should be occupied by the summer. Budworth Hardcastle are in the process of marketing three further units within the scheme ranging in sizes from 6,000 sq ft up to 23,000 sq ft.

On the main Earlstrees Industrial Estate, Budworth Hardcastle have let 90/91 Manton Road totalling 44,000 sq ft to Kettles Furniture as part of their continued expansion with premises already on the Estate at Macadam Road and let 31,000 sq ft on a three-acre site to Sanderson Transport.

On the Willowbrook Estate, Budworth Hardcastle acted for Synergy Taste Food Manufacturers in the disposal of A & B Basildon House totalling 22,000 sq ft to Plus Wipes taking additional space and acted on the disposal of 5 Sallow Road totalling 19,827 sq ft on a freehold basis.

Budworth Hardcastle also provided acquisition advice as part of the expansion of RPC Containers into part of the former Fairline Boats site taking on the main 56,000 sq ft former production unit.

Offices are also proving to be a much stronger market than previous years with Blenheim Park now only having Oak House available that can be taken either on floor by floor with a minimum size being 580 sq ft going up to 1,297 sq ft following the successful disposal to 11 Willow House totalling 2,991 sq ft to German shower and heating products company Kermi.

The final floor at Weldon House totalling 3,000 sq ft has been taken by Ontex who now occupy the whole of one wing of the building and the disposal of 13 Earlstrees Court totalling 5,000 sq ft of two-storey detached offices by Living Space. Elsewhere, Budworth Hardcastle are marketing 3-6 Headway Business Park at the entrance to the Oakley Hay Estate off the A6003 roundabout where individual offices of 1,885 sq ft up to 7,770 sq ft.can be taken on either a leasehold or freehold basis, the premises currently benefitting from a D1 planning use.

The former Pearson building has been acquired by the Corby Borough Council to be run as a prestigious mixture of offices and high quality commercial industrial warehouse space and is being named the Corby Innovation Hub. Budworth Hardcastle are marketing the space with offices starting from 178 sq ft up to 3,000 sq ft with manned reception, meeting rooms, and canteen facilities. The high quality industrial warehouse space will be on simplified internal and repairing leases with individual sizes ranging from 3,100 sq ft to 12,070 sq ft that can be combined to give larger space.

Gilbert Harvey, Director of Budworth Hardcastle said: "It has been an extremely busy year with Corby proving to have a strong and vibrant economy being able to draw significant inward investment into the town confirming the attractive offer that the town provides in terms of location, competitive values and strong labour force. If occupier take-up continues at the rate experienced over the last 12 months there is a danger that there will be shortages of available stock that we are starting to see in certain size categories already."

Further details please contact Gilbert Harvey on 01536 483400.

Companies mentioned in this article

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