By Peter Castle
Managing Director
Hadlands
THE level of enquiries for available properties in and around Northampton has certainly improved over the past 12 months, with a number of factors coming into play.
The imminent arrival of students to the new Waterside Campus is certainly a factor, with a number of office buildings within walking distance of the new campus having been converted into student accommodation. An influx of young people has also led to a great deal of interest in retail and commercial properties that have potential as places to eat, entertainment and gym and fitness uses.
While this is all healthy for the town centre, it has left us with something of a shortage of office space, and when that does come onto the market, competition is fierce and it is generally being snapped up quickly.
Within the town centre, we are currently marketing the upper floors of the former 99p Stores on Abington Street, which has recently been let to Scope for use as a charity store. Above the ground floor retail unit are two floors that offer spacious open plan accommodation that would suit office or showroom use, or, given the concrete floors and high ceilings, could be converted for gym use.
The two areas, one 4,300 square feet and the other 6,700 square feet, have separate rear access from Albert Place and are available at rents starting at £6 per square foot per annum.
Also in the town centre, 6 College Street Mews, off Gold Street, is available to let at £8,500 per annum. The attractive period property offers 487 square feet of space close to town centre amenities. Meanwhile, 3 Mercers Row, the former Oliver Adams bakery, is available either for sale or to rent. The ground floor, measuring 363 square feet, is accompanied by a small basement area that could be converted for dining use. The property is available for sale at £325,000 or to rent at £19,500 per annum.
W5 Church has recently taken a new lease on 16 St Giles Terrace, formerly a music shop, for use as a place of worship, while nearby, office premises at 4 St Giles Terrace have become available, providing open plan and cellular offices over 1,343 square feet with two private car parking spaces to the rear.
In the same area of town, we have acted on behalf of a client to let 12 St Giles Street as a nail bar after obtaining the appropriate planning consents. The property has been let on a new lease at £17,500 per annum.
On Derngate, on the main thoroughfare from the new university campus, a retail unit with office premises is available to let at £9,750 per annum. The flexible accommodation of 802 square feet over four floors is within the Cultural Quarter and close to the Royal and Derngate theatre and Errol Flynn Filmhouse.
Contact Hadland Chartered Surveyors on 01604 639657 or visit the website www.hadlands.co.uk