ROYAL London Asset Management (RLAM) have recently purchased Brackmills Gateway, a 218,118 square foot multi-let industrial estate comprising 21 units with unit sizes ranging from 4,917 to 38,703 square feet.
Following the purchase, RLAM, in conjunction with the asset managers JLL, have undertaken a comprehensive refurbishment programme of the vacant units to an exceptional standard. This, along with proactive marketing by joint agents Drake Commercial and TDB Real Estate has resulted in an increase in rents on the estate within the past year of 55 per cent.
Drake Commercial and TDB Real Estate have been retained as joint letting agents on the scheme and have already completed deals on refurbished units to Hermes Parcelnet and Thames Ambulance Service Ltd and are under offer on two other units.
Joe Smith of Drake Commercial said: “The Northampton industrial property market is currently experiencing a chronic lack of good-quality product and RLAM’s comprehensive refurbishment of the vacant stock on the estate is sure to be well received by occupiers who have been starved of good-quality units over the past few years. We are currently marketing three units on Scotia Close of 4,917 square feet with secured yards and, following the success of units 12 and 15, we are seeing strong interest in this refurbished stock from occupiers looking to secure rarely-available space on one of the premier multi-let estates in Northampton.”
Oliver Thompson of TDB Real Estate added: “Brackmills Gateway is strategically located on the prime industrial estate in Northampton in close proximity to the M1 motorway. Occupiers will not only benefit from a quality product which has been comprehensively refurbished, but will also be able to enjoy a first-class working environment with excellent amenities on the estate.”
Drake Commercial and TDB Real Estate have recently commenced marketing Unit 1 Scotia Close (19,288 square feet) and Unit 3 Weddell Way (13,043 square feet) on Brackmills Gateway. The units have been comprehensively refurbished internally and externally to include, on Unit 1, a new roof and remodelling of the existing office space. The refurbishment has been undertaken to a very high standard and as such these units are now under offer at record rents for the estate following strong interest.
For further details on opportunities at Brackmills Gateway, contact Drake Commercial (www.drakecommercial.co.uk) or TDB Real Estate (www.tdbre.co.uk)