No let up despite Brexit uncertainty

Drake Commercial

1st September 2019

Property Portfolio

Drake Commercial

By Joe Smith

Drake Commercial

IT has been a busy year at Drake Commercial despite the continued state of flux surrounding Brexit.

The popularity of the Northampton industrial market shows now sign of abating with several landmark deals having taken place in 2019. Indeed, Drake Commercial statistics show that take up for 2019 is currently 35 per cent up on the same period in 2018.

Panattoni have recently announced the pre-let of its entire first phase, 625,000 square feet to Eddie Stobart Logistics. The buildings have in turn been sold to fellow logistics developer Gazeley.

Elsewhere in Northampton M & G Real Estate have bought Brackmills Central, a prime 274,000 square foot multi-let industrial estate from Pears Property. The Brackmills Central scheme comprises 32 units and provides scope for rental growth compared to similar estates in the region. Drake Commercial provided occupational advice to M & G Real Estate to assist with the purchase and have been retained as letting agents along with TDB Real Estate.

Drake Commercial have been active in the occupational market having recently completed the letting of Link House, a detached brand new detached warehouse with secured yard located at Swan Valley just off J15a of M1 motorway. A new 10-year lease was agreed with US-owned One Peleton who are expanding rapidly throughout the UK providing cycle machines and equipment for home spinning. TDB acted as joint agents on this letting.

Also acting alongside TDB, we have recently let unit 19 Barn Way, Lodge Farm to BPX who are relocating from their existing premises on Ross Road. The unit is currently being fully refurbished by the landlord, Royal London Asset Management to include a brand new roof and follows on from recent lettings at unit 20 to Aspect Exhibitions and Unit 21 to Sue Ryder. The estate is now fully let.

We were delighted to have let 16 Osyth Close on Brackmills Industrial Estate on behalf of private clients to UK wide infrastructure provider Cityfibre who have taken a long-term lease. A new record headline rent for the scheme has also been set with this letting.

Despite the summer holiday period being in full flow, we have been instructed to market a number of new properties in the past month. We have been instructed to market 16 Edgemead Close on Round Spinney, a 39,436 square foot, a detached warehouse unit which will be undergoing refurbishment shortly.

We have also been instructed to market Central Court on Moulton Park, along with joint agents TDB. The detached HQ office building of 14,300 square feet benefits from an excellent car parking ratio and will be refurbished in due course.

We also received instructions to market 11 North Portway Close, Round Spinney on a freehold or leasehold basis. The unit of 10,128 square feet comprises a HQ-style detached industrial unit which would be of particular interest to owner occupiers.

For further information or to discuss any property matter, contact Drake Commercial on 01604 620616.

Drake Commercial