By Kevin O’Dell
Berrys
SO who’s bored of the B word? Personally, I can’t wait for 31 October to come and go as the uncertainty in our economic climate continues to cause a lack of commitment, lack of movement and lack of confidence in the commercial property sectors generally throughout the UK.
However, focusing on Kettering, locals will have seen quite a few newcomers, leavers and more tall buildings popping up on the outskirts of the town. But what does this mean? Well, in my view, it contradicts everything I said above. It means companies are committing to stay and grow in Kettering, we do have movement in some sectors and some do have the confidence to Keep Calm and Carry On!
Whilst in my view it has been one of the least active years I have seen for a long time in terms of both enquiry levels and stock levels, there is hope and there are those who are taking that risk either by way of building new developments, starting new businesses in the retail sector or expanding and upsizing in both property and staff levels, all very positive news.
If we look at the sectors in isolation the most notable downturn has been on our High Street. With the leavers being M & S, Gala Bingo, Burtons Menswear and New Look to name but a few, we now have large pockets of empty space at shop level, and whilst we have seen some newcomers in terms of more barbers, nail bars and vape shops there has been very little activity in terms of seeing any national brands coming to our shores. The most notable newcomer to Kettering town centre has been the much anticipated Jurassic Grill, a new dinosaur-themed restaurant and show experience which opened its doors in July and had some great feedback. There is also the new Mediterranean restaurant Casa Di Roma which occupies a very nice position within the banking quarter and again has come in for much praise. The Salvation Army has also opted for opening a new store in Kettering as a delivery hub and have taken over the former Majestic Wine unit on Northfield Avenue which Berrys were involved in acting for the landlord.
Berrys have various units available in the town centre, including the former New Look store which can be let as a 3,066 square foot unit or split into two smaller units of 807 square feet and 742 square feet subject to terms. For new-start businesses we also have 2 Gold Street, a prime unit near 3 Mobile, Ebenezer Place, a retail unit for £10,200 per annum and a 60-cover restaurant located at 34-36 Montagu Street with both front and rear access backing onto the School Lane car park.
The office sector has remained a little stagnant with low stock levels in the office parks and a real need now for developers to take charge and build out some options for waiting businesses left with little choice but to not exercise their break clauses or renew their lease where they are due to lack of choice. However, some noticeable transactions during the last 12 months have included the investment sale of the 60,000 square foot RCI building to Kettering Borough Council, the splitting of Bevan House, a 17,000 square foot unit seeing the E-Surv take one floor and part of National Accident Helpline the other. It is also understood that the former Northamptonshire County Council premises at Grafton Court is also under offer with some 16,000 square feet having been available since April this year, which is a pretty swift turnaround for such a large amount of space. In terms of new development of offices Kettering has seen the arrival of two new faces in the forms of Telford Mann Pensions & Investments, who relocated this year from Oakley Hay Corby to the North Kettering Business Park, along with CFW Accountants, previously based in Loddington.
Currently, Berrys have various office options available including space at the business park Brooklands Court, a ground floor modern office of 1,492 square feet at Kings Court, 1,500 square feet at Rothwell Grange Court on the A14, 4,000 square feet with 17 car park spaces at Manor House Rothwell, and also some town centre options including 1a Station Road and Regent Street, both at affordable rental levels for new start or young businesses.
The industrial sector yet again has outperformed both the other sectors and has seen some new development rising out of the ground giving companies some great opportunities
Most noticeably are the large sheds at Junction 8 Cransley Park, which provide 25,000 square feet to 100,000 square feet across four detached buildings. IM Kelly are also near completion for their new production facility of 100,000 square feet which is located at the North Kettering Business Park.
Telford Way has continued to see a turnover of some smaller sheds and some investment sales have taken place recently.
Berrys are also marketing Cransley Court on behalf of Developers Tansor Ziran which comprise new build opportunities at Junction 8 of the A14 and are light industrial units from 2,500 square feet to 16,250 square feet either For Sale or To Let and have received excellent interest thus far with talks ongoing with numerous parties.
Berrys also have industrial space at Trafalgar Road consisting of workshop and office space along with some secure yard space at both Rothwell and Brigstock which comprises 0.66 acres with a detached 3,200 square foot unit on site.
For any commercial property advice or to discuss your own requirements contact Kevin O’Dell at Berrys on 01536 517777 or