Factory gets a new lease of life

Gorell Barnes

1st December 2017

Focus On Wellingborough

Gorell Barnes

FURTHER to previous news reports, Gorell Barnes can now confirm that not only has the subdivision of the largest, previously long-time vacant factory on the Denington Raod Industrial Estate been completed as a full refurbishment, but also that the first letting has taken place, and to a national trade counter.
32 to 42 Denington was an old factory that had been vacant for very many years and has been subsequently purchased by Fernbrook Builders, Rushden, who have completely refurbished the building, including new roofs and wall claddings, new services and loading doors, a resurfaced tarmac yard, etc.
The subsequent division of the building allows for two smaller units of approximately 4,000 square feet each, a larger unit of 15,000 square feet and a middle-sized unit of about 8,000 square feet, in addition to a 5,000 square feet unit that has been let to the national builders merchant trade counter, Toolstation.
Toolstation is currently shop-fitting the unit and will be open for trading by December. John Barnes of Gorell Barnes said: "It is particularly satisfying to see this building recycled and brought back into use and, furthermore, to provide various sized units to appeal to the market.
"This appeal to occupiers is enhanced in that tenure can be either freehold or leasehold." John further commented that by being able to offer the freeholds, occupiers can take advantage of putting the property in their individual pension funds and then letting the building back to their company. This then provides tax-free income into the company pension fund. Furthermore, this should also be of interest to conventional investors who can then rent the building out.
John added that he is delighted with the amount of interest that has been shown in the property, where various offers at asking prices have been secured. Interest has already been shown in all of the five available units; the first, Unit E having completed to Toolstation prior to practical completion a short time ago.
It should also be of comfort to any purchasers or tenants that the building has been refurbished to such a high quality and by renowned and very experienced builders and who are also local.
John, therefore, urges any potentially interested parties to view the accommodation as soon as possible and if still interested to secure the building at the earliest available date, bearing in mind that the availability of freehold tenure industrial property, especially in Wellingborough and surrounds, is dire.
Further information is available from Gorell Barnes on 01536 330100 or email john@gorellbarnes.com

Gorell Barnes