Availability has been eaten up

LSH

19th September 2014

Focus On Brackmills, Rushmills & The Lakes

Brackmills Industrial Estate has long been considered the prime industrial location in Northampton, and even though more contemporary developments have been built within closer proximity to the motorway, Brackmills remains the largest concentration of industrial accommodation in the town with a cross section of unit sizes from 3,000 sq ft up to 1,000,000 sq ft. It is a unique Estate for this reason in that it caters for the smallest to the largest occupiers of industrial and warehousing space. Supply levels grew sharply during the peak of the downturn as refurbished stock languished on the market and other buildings became vacant as business contracted. Rental values came under pressure and keen deals were available incoming occupiers. However, since a high point in availability in 2013, there has been a run of transactions that has eaten up availability rapidly. Lambert Smith Hampton, acting on behalf of British Steel Pension Fund, were instructed as letting agent of their Brackmills holding in early 2013 when they were facing a 40% level of vacant floor space. Since this time, the vacancy rate has been reduced to almost zero through a combined strategy of aggressive marketing and active asset management. The estate is made up of units ranging in size from 3,000 - 19,000 sq ft and counts manufacturing companies as well as a gym, warehousing and engineering companies amongst its tenants. On behalf Kindale Properties, Lambert Smith Hampton have also let 23,000 sq ft at Osyth Park to Euro Food Brands in a deal which leaves only 32,000 sq ft unoccupied in the same scheme albeit this space is also under offer with a letting due to be completed soon. At the other end of the spectrum, the logistics market within the Brackmills Estate has also been on the move. Big acquisitions by Yodel and local company C Butt have taken 222,000 sq ft out of the market, whilst the first speculatively developed unit on the estate in a decade, Brackmills 112, is being reviewed by a number of occupiers. Brackmills continues to hold the title of the largest and most diverse industrial and logistics estate in Northampton and also continues to attract national and international companies. It is an example of Northampton's continued aspiration and success. For more information regarding availability of space on Brackmills contact James Hill or Joe Smith of Lambert Smith Hampton - 01604 664366.

LSH