WITHIN the Northampton industrial and office market, Lambert Smith Hampton continue to act within a strong market.
Acting on behalf of Tilstone Management, they have recently brought a number of industrial properties to the market. Significant interest has been expressed in a unit of around 3,500 square feet on Millbrook Close on the St James Mill industrial estate. The property comprises a semi-detached warehouse with office accommodation and trade counter.
Tim Bell, Graduate Surveyor at LSH in Northampton, said: “The industrial market in the East Midlands, especially Northampton, is buoyant in terms of activity, occupation and rental values. Smaller units of between 1,000 square feet to 5,000 square feet are particularly sought after due the continuing lack of supply.
“St James Mill is a popular trading area for tenants and the properties attract a great deal of interest.”
Commenting on the current trends within Northampton’s office market Tim Bell said: “Over the past two quarters, letting transactions of 5,000 square feet plus properties within the Northampton office markets have plateaued. This is due to the continued scarcity of available prime stock, although uncertainty surrounding the on-going Brexit negotiations hasn’t helped.
“The availability of office space within the town centre has continued over from Q3 and Q4. Recent lettings, totalling 26,418 square feet within Riverside House and 1 Greyfriars, demonstrate that an appetite for in-town office space continues. Requirements for Grade A office accommodation in Northamptonshire remain high.”
Available Grade A space of 104,000 square feet and construction has also begun on units of 9,412 square feet and 10,000 square feet at Phase 2 of Waterside. The buildings were pre-let and pre-sold respectively.
Smaller scale office space within Northampton’s centre continues to attract interest. Of particular note is the available 2,000 square feet of town centre office on St Giles Street, fuelled by 15 private car parking spaces. This is quite a rarity in the town centre and a number of proposed uses are being considered.
LSH are also active in acquiring of premises for clients. Most recently, Simon Lewis secured 1,500 square feet of office space in Blisworth Hill on behalf of Enexio to assist their relocation.
To find out more, contact Tim Bell at Lambert Smith Hampton on 01604 664366 or visit www.lsh.co.uk
