Market continues to do well

LSH

1st April 2019

Property Portfolio

LSH

By Tim Bell

LSH

NORTHAMPTON'S industrial property market continues to perform strongly with rental growth being sustained in Northampton and its surrounding towns. Industrial units of 12,000 square feet or less are particularly sought after as supply draws ever tighter.

LSH have recently completed the letting of Unit 1, Upper Priory Street, close to Northampton's town centre, achieving a record rent for the immediate area and a great result for our client. There are two additional units available at Upper Priory Street and interest is unabated.

Whilst Brexit uncertainty seems to have had little impact on Northampton's industrial property market, the office market has experienced a cooling of interest during the recent Brexit negotiations.

However, we have recently been instructed to bring The Old Woodyard, Hanslope, to the market. Providing quality office accommodation in a rural location, the property is available to let as a whole or on a floor-by-floor basis. Whilst in a rural situation, the property is six and a half miles south of Northampton's Grange Park accessed via junction 15 of the M1. It is also 10 miles from Milton Keynes and easily accessible.

Smaller offices on out-of-town business parks also continue to attract interest, although low availability means interest is far outstripping demand. With this in mind, and the rare availability of freehold offices, potential purchasers and occupiers are looking further afield in areas surrounding Northampton. Acting on behalf of a client, LSH recently brought to market a rare freehold opportunity at 24 Cottesbrooke Park, Daventry. The property offers 2,000 square feet of modern office space with the addition of solar panel electricity generation and an electric vehicle charging port. Interest in the property has indicated that whilst Parliament can't make a deal, Northamptonshire's occupiers can spot one!

For more information contact Tim Bell at Lambert Smith Hampton: tbell@lsh.co.uk or 01604 664362.

LSH