HIGH levels of infrastructure investment have opened up large areas of employment land within Kettering borough. This should attract significant inward investment and new employment opportunities to match the proposed population growth and increasing labour pool.
Philip Arnold, Director at the Kettering office of Budworth Hardcastle points towards Segro’s 70-acre Kettering Gateway site accessed directly off Junction 10 of the A14 and St Francis’ 32-acre Cransley Park site at Junction 8.
He said: “This is an exciting time for the borough. The market remains strong – particularly for strategic warehousing where a shortage of large footprint sheds across the region coupled with sustained on-going demand should lead to new builds shortly.”
Currently these two large employment parks remain undeveloped – but offer ‘oven ready’ land.
“The driver for on-going demand is primarily down to the revolution in online retailing and the demands that places on supply chains. Kettering already has notable success in attracting distribution users,”said Philip.
There is certainly plenty of activity on the northern employment areas of Kettering.
“We are marketing agents jointly with Burbage Realty on Prologis Park where over 1.9m sq ft of distribution space has already been constructed and occupied by household names. We have one unit being built speculatively of 156,000 sq ft which is near completion ready for occupation. That would only leave one final plot on this successful distribution park where we can provide a unit of 370,000 sq ft.”
Budworth Hardcastle are also marketing the Kettering Business Park that makes up the other half of the North Kettering employment area.
Gilbert Harvey, a director at Budworth Hardcastle fronts up the marketing of this park. Buccleuch Property have differentiated themselves within the local market in that they will offer to build bespoke units for occupiers on a freehold basis as well as on a lease basis. Owning a property is an attractive prospect for many companies where strong balance sheets enable them to get competitive bank funding.
The Kettering Business Park also has a diverse mix of users including the Holiday Inn Express, Harvester Pub, Esso Petrol station with a Spar and Subway, with Starbucks to the side. There is the last one-acre retail site fronting the A43 remaining for which there is interest. Recent developments include the very impressive and recently completed 29,709 sq. ft. Police Northern Headquarters Hub offices. Budworth Hardcastle are joint marketing agents with Avison Young.
Gilbert Harvey added: “We have enjoyed a fairly active 12 months.Two office occupiers, Building Services Design and CFW Accountants have acquired new build office accommodation on the Park and we are also in advance negotiations with another prestigious local company in the acquisition of Plot 7 totalling 1.25 acres for the contraction of a further office building.
“On the industrial side, the Kettering Business Park has significant interest in a large section of the remaining land in phase one with detailed negotiations with several occupiers with two plots now remaining totalling 8.4 acres still available. There is potential for further plots in a second phase to be available.
“The existing industrial estates are now getting very short of available stock with Budworth Hardcastle having secured several transactions over the last 12 months on the Telford Way estate, for example, including the letting to Robert Pochin Ltd Plumbers merchants on Telford Way for a new trade counter unit in the town, and have let both units 3 and 4 Henson Park being 3,609 sq ft and 5,762 sq ft, to Bays International and Hingerose as part of their continued expansion. Unit 5 Torridge Close totalling 4,427 sq ft was completed this month to Thames Ambulance Service with significant interest in Unit 1 Torridge Close totalling 3,772 sq ft. The remaining stock that we have is generating a great deal of interest for both purchasing and renting enquiries and there is a serious danger of existing units not being available and new units not being built creating a shortage.”
In conclusion, Philip Arnold said: “So, it is fair to say that with a good number of large space requirements out in the market, Kettering should attract its fair share – particularly given the capital and rental values required represent a significant discount to those in the more prime locations such as Northampton and Rugby.”
Contact Budworth Hardcastle on 01536 483400 or visit www.budworthhardcastle.com