By Duncan Batty
TOWCESTER is the administrative centre of South Northamptonshire and has a population set to double over the next 10 years. Significant residential development to the south of the town, together with an increasing population, is placing demand pressure on the commercial market. To meet this demand, South Northamptonshire Council (SNC) has recently granted a number of planning permissions which, when implemented, will drive investment into the town and contribute to the growth of town as a business destination.
In January 2018, planning permission was granted by SNC for a new development of employment units on the Tove Valley Business Park. The proposal will provide seven new starter units of approximately 1,600 square feet each and constructed in two terrace blocks. This is welcome news for Towcester and, indeed, South Northamptonshire as a whole. New industrial development of this size has been squeezed over recent years, as high construction costs have made smaller scale developments unviable.
Situated close to the A43 and the town, this development will provide high-quality accommodation, in a highly accessible location, in close proximity to Silverstone Circuit and within the Motorsport Valley. We expect strong demand from occupiers and investors alike. Construction is expected to commence in Autumn 2018.
Planning permission was also granted at the end of 2016 for a new roadside scheme, adjoining Tesco and adjacent to the A5 trunk road. The scheme will provide five retail units and three food and drink drive-thru units with on-site car parking. Due to the highly accessible location at the junction of the A5 and A43, we expect demand will be strong for the units and should draw a variety of national multiples to the town.
In the town, situated on Whittons Lane, opportunities for retailers and restaurant operators is being developed. The units, currently under construction, are due for completion in Autumn 2018. The development provides six units designated for retail use and two units for restaurant or cafe use. The development benefits from a pedestrianised link between Watling Street and the council offices, plus car parking on Northampton Road.
To discuss current availability, or for more information, contact Duncan Batty on 01327 356148 or Duncan.firstname.lastname@example.org