BUDWORTH Hardcastle have confirmed that the Kettering commercial market has been extremely busy and buoyant with the general take-up of space is in danger of outstripping the supply.
Since Business Times' last Kettering feature, Philip Arnold, Director at Budworth Hardcastle, based in the Kettering office has confirmed that the 156,000 square feet warehouse at Prologis Park in Kettering that was due for completion at the end of September 2017 was let within two months of completion to Internet Fusion, indicating the strength of demand for the right product and the right location.
Philip confirms that there is one final plot remaining on this highly successful Prologis Park scheme that can accommodation one single unit of just over 369,000 square feet or potentially two units of approximately 242,778 square feet and 92,353 square feet.
To the opposite side of the A43 is the prestigious Buccleuch Kettering Business Park where the 30-acre Phase I part of the development includes the Northern Headquarters for the Northamptonshire Police force is continuing to show significant progress in attracting companies to the park with the completion of offices by CFW Accountants for their principle head office and, currently under construction, the new three-storey offices for TelfordMann Pensions & Investments together with construction starting to commence for the new IM Kelly factory.
There are now four plots remaining, starting from only 0.45 acres rising to 5.76 acres for office and high-quality industrial development with a further one-acre site suitable for retail and fast food consent. Buccleuch Property are prepared to offer design and build opportunities to offer bespoke buildings for clients' requirements or alternatively land sales will be considered.
Elsewhere in Kettering there are the significant developments, including Cransley Park, where St Francis and the Richardson family have embarked on a speculative scheme on the 22-acre development of four industrial warehouse units of between 25,000-100,000 square feet due for completion early 2019, located off J8 of the A14.
Segro's 70-acre Kettering Gateway development can accommodate 1,200,000 square feet of industrial warehouse space for units of between 50,000 and 950,000 square feet with potential to offer 18m high buildings and with a huge 10MW power available.
Budworth Hardcastle have had a generally busy 12 months in terms of letting and selling within the commercial market.
On one of Kettering's older estates, Pytchley Lodge Road, Budworth Hardcastle were involved in the sale of 19-20 totalling 12,227 square feet and across the road, at 4a Pytchley Lodge Road, being part investment and part vacant unit to PJM Scaffolding Contractors and 13-15 Pytchley Lodge Road totalling 11,542 square feet of industrial factory space currently under offer. This leaves 5 Pytchley Lodge Road, which is available for sale and is currently being used as a trade counter warehouse unit totalling 6,675 square feet, due to be available in 2019.
6 Robinson Close, a detached unit of 3,081 square feet on a secure site, was let to Industrial Site Maintenance Ltd as part of their relocation to Kettering. Another rare small unit that was let within a week of becoming available was to a local company, Steve Sawford Marine, who specialise in the production of Hansa sailing boats.
Within the Torridge Close scheme, Budworth Hardcastle were instructed on two units, units 3 and 6 totalling 3,925 square feet and 4,920 square feet that are currently both under offer to companies looking to come into Kettering for the first time and, hopefully, will be announcing soon confirmation that they will be providing new jobs in the town. Additionally, 9b Linnell Way, totalling just over 4,000 square feet is also under offer to a trade counter operator looking to move into the town, further confirmation of Kettering's attractiveness for inward investment.
The office market has also continued to show a great deal of strength, including the recent letting of part of Orion House, the 20,000 square foot office building on Orion Way off J9 of the A14 where a first-floor office suite of 3,321 square feet was let to Performance Finance Ltd as part of their relocation within the town.
Amanda Lawrence at Budworth Hardcastle said that currently there is just one office only on the market at 2 Kings Court on the Kettering Venture Park, totalling 2,949 square feet at an asking rent of £36,000 per annum exclusive.
In conclusion Gilbert Harvey, Director at Budworth Hardcastle said that 'going forward, Kettering's supply of commercial space is now getting very tight and there have started to be more enquiries than units that are available going forward that will harden rental values and freehold values alike'.
For further details contact Budworth Hardcastle on 01536 483400 or visit www.budworthhardcastle.com