Activity in the industrial market

LSH

1st June 2015

Focus On Northampton

IN keeping with the region in general, Lambert Smith Hampton have been very active in the industrial market in the past few months, having recently been instructed with joint agents, Potter Learoyd to market the 28,418 sq ft former Citylink building on Fairground Way, Riverside Business Park. The building, which is available to let, comprises a high-quality modern industrial unit with two-storey fitted offices. The unit also benefits from a large secure yard to the rear of the building along with seven level access loading doors. Lambert Smith Hampton have already received strong interest from occupiers looking for good quality space in Northampton. James Hill, Director of Lambert Smith said: "Unit A, Fairground Way represents the highest quality building of its size in the town and as such is attracting very encouraging levels of interest. It is unfortunate that it has taken the failure of the previous tenants business to bring forward a building of this calibre, but the number of enquiries from growing local and regional companies gives cause for great optimism." In addition, the firm have been appointed as sole agents to market Units 1 and 2, 381 Harlestone Road, with space available from 8,302-30,632 sq ft. The available space is available over two buildings on a total site area of 2.6 acres. The two units can be let individually or separately at a rent of £2.50 per sq ft. "The whole site, which was formerly a Ford main dealership, has a total site area of approximately six acres and also includes showroom, workshop and hard standing areas, which are also available to let. The property has never been available in the open market and occupies a highly prominent position with a broad frontage to Harlestone Road." Joe Smith of Lambert Smith Hampton added: "We have new instructions to market 1-15 Lodge Farm Trade Park, on Barn Way. Space is available from 32,500 to 99,500 and can be let on flexible terms either separately or as a whole". The joint agents are Prop-Search. Joe Smith continued: "On Brackmills, 11 Kilvey Road (19,579 sq ft), 21 Gallowhill Road, (12,500 sq ft) and 16 Gallowhill Road, (4,900 sq ft), which we market jointly with TDB Real Estate, are all undergoing extensive refurbishment. 21 Gallowhill Road is now ready for occupation and the other two units will be available later this summer. We are seeing strong interest in all units due to the severe lack of stock and the quality of the refurbishment being undertaken." Northampton has experienced a 26 per cent reduction in availability with the total availability rate standing at 7.6 per cent of total stock at the end of 2014; this will have been eroded further as a result of activity in 2015 and a lack of stock coming back to the market. Lambert Smith Hampton has been very active with two deals having been completed on Redbourne Park, Brackmills. CCF have taken Units 3 and 4, (37,324 sq ft), and Pro Rider Ltd, who have recently been acquired by the Tandem Group Plc, have taken Unit 1, (32,911 sq ft). On Riverside Business Park, Lambert Smith Hampton have completed the letting of 11 Carousel Way, (17,469 sq ft) on a 25-year lease to a blue chip covenant at a record rent for the estate. Elsewhere in the town, 53 and 57 St James Mill Road, (6,150 and 22,500 sq ft respectively) are under offer. Both deals were done within weeks of bringing the properties to the market, illustrating the continuing demand for good-quality stock. To discuss any property requirements, contact Joe Smith or James Hill at Lambert Smith Hampton on 01604 664396.

LSH