SIX office units at Brooklands Court in Kettering, which were formerly owned by Carillion plc, have been snapped up by a fast-growing Midlands property investment company.
NPI (Kettering) Ltd, a wholly owned subsidiary of Norton Property Investments Ltd, has acquired the freehold interest in six office units within the scheme on the Kettering Venture Park. The deal, which is Norton’s largest to date, provides a combined total of 13,686 square feet of high-quality offices, producing an initial net yield of 9.95 per cent.
Norton Property’s Managing Director Ben Spickernell said: “Brooklands Court represents an opportunistic purchase for us, with good asset management opportunities in the short term. The fact that the market in the Kettering area is constrained, which drives value, was a positive for us.”
While acting as joint agent with JLL on behalf of Carillion, Prop-Search has been retained by Norton to maximise its new investment through the letting of the vacant units, although will also consider freehold sales. Balfour Beatty is already a tenant on the site and a national professional services firm has just signed to take another 1,862 square feet.
Available office accommodation ranges from 893 square feet up to 5,538 square feet in combination. These offer high specification accommodation with features including comfort cooling and a class leading car parking ratio.
Chris Billson, a Director at commercial property agent Prop-Search said: “Kettering Venture Park has grown significantly over the past few years and is now high on most occupiers’ shopping lists as a premier business location, with the nearby hotel facilities and retail parks. Brooklands Court is rare in that it provides headquarter-style accommodation for small businesses in the area.”
Norton Property Investments was founded in 2009 by Managing Director Ben Spickernell who, together with his Co-Director and brother Tom, is driving the company’s growth as investors in UK regional towns and cities.
Norton continues to source and deliver new opportunities, and project manages refurbishments and redevelopments.
Further information or advice can be obtained from Prop-Search on 01933 223300 or at the website www.prop-search.com