DESPITE the political turmoil and the economy flatlining over the last quarter, the market fundamentals which drive the relative strength of the commercial/industrial market remain strong.
“Essentially, there remains a significant shortage of good quality second hand industrial stock. Demand continues to outstrip supply,” said Budworth Hardcastle Director Philip Arnold. “Whenever well-presented space is available to the market, we are able to generate strong interest.”
On Kettering’s Telford Way employment area, the freehold interest in a vacant 14,000 square foot unit on Henson Way is currently under offer. The firm was marketing it seeking offers of £1.125m.
Also available on this road is Unit B Saxon House. It extends to 14,610 square feet and has excellent loading facilities 1,150 square feet of fitted offices and 25 car parking spaces. It is available on a new lease at a rent of £84,000 pa.
Earlier this year, 14,000 square feet of modern portal frame space was let to Greggs Plc on a 10-year lease with a break option in year five. Budworth Hardcastle acted with Prop-Search on behalf of a local investor in that instance.
The firm was also instructed to let an older property at Pytchley Lodge Road. The 11,500 square foot unit was quickly let to Dantex on a new five-year lease as part of their expansion plans. Dantex operate across Europe focusing on the packaging industry and offering solutions for water-based printing plates.
On Linnell Way, Budworth Hardcastle’s Building Surveying and Agency teams were involved in the refurbishment and letting of two 4,000 square foot trade counter units to BED electrical and Twinbusch. In addition, Budworth Hardcastle negotiated a new lease renewal with Wolseley UK Ltd who trade as Plumb Centre in the same development for a further five-year term.
Philip Arnold concluded: “All in all, the market is holding up. Small businesses are flexible and adaptable, they know their customer base and clearly have confidence in strong order books. The churn in transactions on larger footprint industrial/warehouse space also continues apace. Decisions at this level though involve a significant commitment to investment in new buildings and there is no doubt that the continuing uncertainty is impacting on large companies’ investment decisions.”
Budworth Hardcastle operates from a network of offices across the region in Northampton, Kettering and Peterborough offering agency, lease advisory, property management and building surveying services.
For further information contact Philip Arnold at Budworth Hardcastle on 01536 483400 or email