Barker Storey Matthews Commercial Supplement Spring 2017

BSM COMMERCIAL PROPERTY SUPPLEMENT

www.bsm.uk.com

Issue #12

Spring 2017

MATTHEWS

Voted by the Estates Gazette Deals 2016 - Overall Winner in the East of England

SOLD TO CAMBRIDGESHIRE POLICE

A14

SOLD TO VINDIS BENTLEY

SOLD TO RH ESTATES

FOR SALE FREEHOLD SERVICED DEVELOPMENT SITES 0.49 ACRES TO 9.29 ACRES

For further information please contact

Alan Matthews - arm@bsm.uk.com Richard Adam - rha@bsm.uk.com

www.lakesbusinesspark.com

Conten ts

Bury St Edmunds

4-8

Market commentary

4-5

Property selection

6-8

Cambridge 10-15 Market commentary

10-11

Property selection

12-15

Huntingdon 16-25 Market commentary

16-17

Property selection

18-25

Peterborough 28-37 Market commentary

28-29

Property selection

30-37

Front Cover: Building 1030 Cambourne Business Park, Cambridge – HQ office building providing 4,026 sq m (43,332 sq ft) of high quality refurbished air conditioned Grade A office accommodation over 3 floors with impressive full height glazed atrium and large floor plates. Available to Let. Call Ben Green on 01223 467155

W

elcome to the 12th edition of the Barker Storey Matthews commercial property supplement. 2016 was a memorable year for

© Copyright 2016 Barker Storey Matthews All rights reserved. Unless otherwise stated all prices

Barker Storey Matthews as we celebrated our 25th year since our management

and rents quoted are exclusive of VAT. Details

buyout from PPS and also saw the “Brexit” vote in the summer surprise many.

and rents are given in good faith but are set out

contained in adverts to include floor areas, prices as a general guide only and do not constitute any part of a contract. No person in the employment of

Our regional market settled in Q4 of 2016 and the first quarter on 2017 has

Barker Storey Matthews has any authority to make

been extremely buoyant. Continuing low interest rates coupled with rental growth

the properties advertised.

across a number of sectors has strengthened an already strong investment

or give any representation or warranty in relation to

All queries regarding editorial, advertising and

market. 2017 will however inevitably prove difficult for some occupiers due to

subscriptions should be directed to:

an acute shortage of available buildings in some size ranges.

BSM Magazine Barker Storey Matthews 37 Priestgate

As usual our supplement includes market commentaries on our four core property markets, Bury St Edmunds, Cambridge, Huntingdon and Peterborough, containing an overview on the various property sectors we deal with. The supplement is sent to around 10,000 businesses, potential occupiers and investors throughout the region. The properties advertised represent just a small selection of our instructions so for a more comprehensive list together with further detail on the range of services we provide please visit our website www.bsm.uk.com.

Peterborough PE1 1JL

Bury St Ed m u n d s M ar k e t C om m e n t a ry

BURY ST EDMUNDS Bury St Edmunds is looking towards future growth with a number of exciting new developments underway, which will cement the town’s status as a hub for business in Suffolk and increase its profile as a destination for businesses looking to move into the region.

Whilst the shortage of available existing property throughout all sectors remains a challenge there is now hope for occupiers looking to re-locate, with Churchmanor’s new development at Suffolk Business Park and the investment in the Eastern Relief Road providing the catalyst in providing greater options for re-location and growth.

The lack of supply of modern good quality buildings across all commercial sectors, coupled with low vacancy levels, has resulted in strong rent and capital values in Bury St Edmunds and the surrounding area. Lack of stock has meant that some occupiers have been prepared to compromise whilst others have stayed put in the hope of more suitable options becoming available. An element of uncertainty, leading up to the EU Referendum vote, seems to have dissipated with an upturn in demand and going into 2017 there has been a significant increase in the number of enquiries from occupiers, with pent up demand particularly in the small freehold industrial/warehouse market and investment sectors. Retail vacancy rates remain well below the national average and Bury continues to be seen as an attractive place to shop, work and live.

Overview by Simon Burton, Director, Bury Office

Offices Good quality office space remains at a premium. Currently there is less than 50,000 sq ft available in the area with the largest single floor plate being 7,300 sq ft. There has been demand, but a limited variety of size options has made meeting occupiers requirements a challenge. There continues to be good demand for freehold space and a number of larger requirements remain unsatisfied.

Suffolk Business Park has provided a great opportunity for local occupiers who have needed to grow, but who have been unable to find suitable alternative locations, whilst also providing design and build opportunities for those looking to looking to move into the town. The shortage of supply was demonstrated at Skyliner Way where Suffolk Housing have constructed and occupied a new 9,000 sq ft two storey office building.

Notable deals have included Allied Health Professionals purchasing the freehold of 4,000 sq ft at Hillside Road, Pick Everard taking the last available suite at Abbotsgate House and West Suffolk Physio taking a lease of 4,000 sq ft at Hillside Road, which is fully occupied. Carillion have taken a lease of 2a Greenwood Court and Ross House, comprising around 4,177 sq ft is currently under offer.

In the town centre BSM sold 29 St John’s Place, comprising around 1,700 sq ft, to Troy Group who undertook a major refurbishment and moved in at the end of 2016. In the wider market, BSM have been involved with space at Keystone Innovation Centre in Thetford, where there are only a few suites remaining following the letting to The Forestry Commission. In Newmarket BSM disposed of the last few suites at Rookery House which is now fully let.

fully occupied and no other small freehold units available. Rental levels have remained strong with rents in excess of £8 per sq ft having been achieved, and incentives are decreasing. Freehold values are likely to increase, where the majority of opportunities to purchase will be in the design and build sector.

Even where larger buildings have become available, occupiers are faced with inherent problems as a large proportion of the local stock has relatively low eaves height or limited external areas for HGV movement. There have been some substantial requirements both from blue chip covenants through to local hauliers.

This lack of supply appears to be a regional problem, as BSM’s search for a retained client came up with few existing buildings that were suitable, with new build being identified as the only real option. This is locally demonstrated at Easlea Road, where Vitec are taking a lease of a new purpose built 60,000 sq ft light industrial building on the former Carillion site.

There is some availability at Anglian Lane Industrial Estate, which underwent significant refurbishment, with four units totalling 45,527 sq ft. Unit E, comprising 9,106 sq ft is currently under offer. BSM have also recently been instructed to market Endeavour House, a 44,000 sq ft cross dock warehouse space at Rougham Industrial Estate and are seeking a quoting rent of £6 per sq ft.

Anglian Lane – Units available following refurbishment

Industrial Much as with the office sector, there is a chronic shortage of supply, particularly with the small and largest units. Small freehold demand is exceptionally strong with Hillside Business Park now

4

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

Contacts in the Bury St Edmunds Office

01284 702655 Adrian Browne

Retail Retail in Bury St Edmunds remains particularly strong, with extremely low vacancy rates. As with a number of other regional centres, the restaurant sector remains active with a new Amigo’s, an independent Mexican Restaurant, opening in Brentgovel Street and Byron’s opening in the Arc. Snug Bars have also taken a lease in St John’s Street.

We understand that the Arc is fully occupied with the last vacant units having been taken by Smiggle and Hotel Chocolat. It is a similar story in all of the other prime retail locations, with little vacancy in either the Buttermarket, Cornhill or Abbeygate Street.

BSM have been involved with a number of lettings both from existing businesses who have re-located and new businesses coming into the town. Buy the Light took 1,600 sq ft in Whiting Street on a 10 year lease, A Plan Insurance took a 10 year lease of a prominent 4,200 sq ft corner unit in Brentgovel Street, whilst Furniture Market took a 10 year lease of 3,300 sq ft also in Brentgovel Street.

In terms of out of town retail, the existing space is fully occupied.

Further to BSM completing the sale of Haldo House, located in a prominent position opposite Asda, to Western Way Retail Llp, planning consent for a new retail warehouse scheme of 57,000 sq ft was granted and the scheme is anchored by The Range, who have agreed a pre let of 34,000 sq ft. BSM acting jointly with Roche, have secured a pre-let to B&M who are taking the remaining 24,000 sq ft. The development is due for practical completion in Autumn 2017 with construction due to commence shortly.

Bury St Edmunds remains a very attractive shopping destination within the region, supported by an affluent catchment population, good investment in the town centre and a popular market held on Wednesday’s and Saturdays. Improvement and investment continues with the new Town Centre Masterplan currently undergoing public consultation at the issues and options stage.

Development & Investment There has been continued strong demand from investors and we have dealt with a number of sales and acquisitions for clients over the last year. Again, opportunities remain low and yields continue to harden against a background of low interest rates.

Bury St Edmunds as a location is proving to be a desirable location for investors, with strong market towns providing an attractive alternative to the larger city centres.

Prime opportunities are increasingly scarce and investors are turning to secondary locations often providing more attractive returns reflecting enhanced risk. As an example, in September we sold 95 Hampstead Avenue in Mildenhall, a 12,383 sq ft industrial unit let to Underwood’s Electrical at a net initial yield of 9.23%.

We also acquired 88-89 St John’s Street in Bury St Edmunds, on behalf of clients, with Benson Blake’s Bar & Grill as tenant, the purchase providing a net yield of 10.5%, with Snug Bar taking over the business soon after completion.

In the office sector BSM sold 15 King’s Court, a multi let 6,100 sq ft office building in Newmarket, achieving a net yield of 6.77% rising to 7.52% on reversion. The property is let to Injured Jockey’s Fund, Countrywide Signs and Yutree Insurance.

Bury St Edmunds is experiencing something of a development boom with the construction of the new Eastern Relief Road, due for completion in early summer, facilitating the development of Suffolk Business Park. Churchmanor Estates are developing 57 acres of prime commercial land suitable for a variety of development and forming part of a wider employment area of 168 acres. To date strong interest has been received from numerous occupiers across a variety of sectors. The prominently located site is situated off Junction 45 of the A14 and will create the Eastern gateway into the town. This development will have a major positive impact on Bury St Edmunds and will allow for the growth and expansion of key business in the area as well as attracting new investment into the town.

Valuations and Professional

Simon Burton Agency, Investment and Development

Steven Mudd Agency

Julian Lucas Property Management

Suffolk Park Masterplan

In addition, in May, BSM acquired Tartan House at Etna Road on behalf of NHP property Holdings, who have recently submitted planning for a new Travelodge and Starbucks Drive Thru on another important arterial route into the town centre.

Opportunities for residential development and retirement living have also been popular. BSM, acting on behalf of Suffolk County Council have completed the sale of a former care home at Wade House in Stowmarket to Havebury Housing, as well as exchanging conditional contracts for the sale of 2 acres at Camps Rd in Haverhill to Churchill. We have also put the 16,000 sq ft Ixworth Lodge under offer to a care home operator.

Conclusion Bury St Edmunds remains a thriving and attractive business location, which will look to grow in the coming years through the benefit of large scale commercial development in key locations across the town. The town is underpinned by a diverse retail offering and low vacancy rates across all sectors and a strong residential market.

There is improving demand with new development increasingly seen as a viable option and Suffolk Business Park will attract and retain important occupiers in the town.

Issue #12 • Spring 2017

5

Bury St Ed m u n d s P r o pe rt y S e le c t ion OFFICES - TO LET

› Town Centre offices with basement storage › Refurbished to a good standard › Fully self-contained › Secure entry system › Gas central heating including new boilers › Close to prime retail areas

Bury St Edmunds 88-89 St Johns Street Rent: £18,500 pax

01284 702655 Page 2

INDUSTRIAL - TO LET

OFFICES - TO LET

Bury St Edmunds 7 Cratfield Road

Bury St Edmunds Beacon House, Kempson Way

Rent: £21,500 pax

Rent: £96,000 pax

› Modern trade counter unit › Busy trading estate close to Jewsons and Benchmarx › Last remaining unit › 246.19 sq m (2,650 sq ft)

01284 702655 6

› Modern detached office building › 32 on-site parking spaces › High quality fit out › New lease available June 2017 › 632.99 sq m (6,813 sq ft)

01284 702655

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

The Limes, 32 Bridge Street, Thetford, Norfolk

Size: 276.55 sq m (2,977 sq ft) NIA Price: £595,000 Rent: On Application

For Sale / To Let

Page 3

• Prestigious Georgian Office Building

Page 2 Steven Mudd BSc (Hons) PG Dip Surveying Tel: 01284 702655 DDI: 01284 715003 Davies House, 4 Hillside Park, Bury St Edmunds, IP32 7EA

3/28/2017

• High quality fit out • Attractive grounds • Close to town centre

'Most Active Regional Agent in Cambridgeshire 2010 to 2016' 'Most Active Regional Agent in the East of England 2013, 2014 & 2015'

This message and any associated files are intended for the addressed individual only. If you are not the intended recipient you are hereby notified that any dissemination, copying or distribution of this message and any files associated with this message is strictly prohibited. Any views and opinions presented are solely those of the author and do not necessarily represent those of the company. Barker Storey Matthews is the trading name of BSMH Ltd. Registered in England and Wales. Number: 2566342. Registered office: 150 High Street, Huntingdon, Cambridgeshire, PE29 3YH Please consider the environment - Do you really need to print out this email?

• On-site parking • Immediate access to the A134 • Full security, fire alarm and intercom systems • Potential Residential Opportunity (STP)

MATTHEWS EPC’s available on request

For further information contact: Steven Mudd 01284 715003 sm@bsm.uk.com Issue #12 • Spring 2017

7

Bury St Ed m u n d s P r o pe rt y S e le c t ion Page 2

INDUSTRIAL - TO LET/FOR SALE

Mildenhall Alpha One, Chiswick Avenue Rent : £140,000 pax Price: £1.25 m

Page 2

Page 2

› Substantial warehouse building with loading and parking 3/28/2017 › 6m eaves in main building › Potential to increase parking and loading areas › Good access to A11 › 2 level loading doors › 3,603.34 sq m (38,786 sq ft)

01284 702655

INDUSTRIAL - TO LET

3/28/2017 Page 3

3/28/2017

Bury St Edmunds Anglian Lane Rent: £5.50 psf pax

› Extensively refurbished Industrial/Warehouse/ Distribution Units › Good specification › 4 units available › Available individually or in combinations › 5.3m eaves › Sizes from 846 sq m (9,106sq ft) to 4,230 sq m (45,527 sq ft)

01284 702655 8

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

WHETHER YOU ARE BUYING OR SELLING….

MAKING THE RIGHT INVESTMENT DECISION MAY NOT BE THAT SIMPLE

What sector to invest in? Retail? Offices ? Industrial ? Distribution? Leisure? Any prospects for rental growth? Any prospects for overall capital growth? Any risk of a decline in value? What is the likely overall rate of return? How does the return compare with other forms of investment?

Are there any comparable sales? What is the return on cash in the bank? What are the lease terms? What is the rent review pattern? Is the property over-rented? Is the tenant covenant ok?

Is the location any good? What are the prospects of re-letting if the property falls vacant? Is there a prospect of obtaining loan facilities? Can a pension fund invest? Is there an alternative use? Is it the right time to sell? What would I do with the money if I sell? Are there any capital allowances?

Can you help please………………..

WE WOULD BE HAPPY TO HELP! Steve Hawkins, Peterborough office 01733 897722, Ben Green, Cambridge office 01223 467155 Stephen Power, Huntingdon office 01480 451578, Simon Burton, Bury St Edmunds office 01284 702655

Cambridge M ar ket C o m m e nt a r y

CAMBRIDGE A shortage of stock across all sectors continues to be the main issue in and around Cambridge. The city centre has a severe shortage of offices and is the focus of demand.

It is difficult to determine exactly what impact Brexit is having on the Cambridge market, as whilst the city continues to grow at rapid pace, the economic uncertainty caused by Brexit appears to be weighing on some corporate decision making when it comes to investing in commercial property. On the whole however the outlook for the city and its immediate environs is extremely positive with strong demand and growth being driven by the R&D and tech sectors.

Two recently published studies highlight this growth; one, by Cambridge Ahead, shows that Cambridge based companies have grown at twice the rate of UK companies as a whole. The second study, an index compiled by accountants Grant Thornton, identifies Cambridge as the most vibrant city in England. A new Cambridgeshire and Peterborough Combined Authority presents an opportunity to deliver the infrastructure and housing required to facilitate this growth.

Overview by Ben Green, Director, Cambridge Office

Offices and Laboratories Much of Cambridge’s recent success and growth is coming from its booming tech sector, which in turn is putting pressure on the office and laboratory stock. Office take-up in 2016 exceeded 500,000 sq ft for the fourth year in a row, with supply falling to around 9% of the total stock, its lowest level in 15 years.

Within Cambridge there are only a handful of buildings offering good quality offices over 5,000 sq ft. On the business parks surrounding the city there is more availability but only a handful of buildings offering over 20,000 sq ft. One example is Building 1030 Cambourne Business Park, which, at 43,000 sq ft, is the largest office building immediately available in the Cambridge area and is being marketed by BSM.

With limited space available expanding companies are finding it increasingly difficult to move and as such pre-lets by larger organisations have been a common theme over the past few years. Recent examples include on-line gaming company Frontier which has signed up to 65,000 sq ft at Cambridge Science Park.

Cyber security company DarkTrace is taking 20,000 sq ft at the proposed Maurice Wilkes Building on St John’s Innovation Park and Abcam is taking a new 100,000 sq ft facility at the Biomedical Campus by Addenbrookes. In terms of notable lettings of existing buildings, BSM has recently let 11,000 sq ft of clinical research space at the Bertarelli Building in Bourn.

Bertarelli Building, Bourn 11,000 sq ft of clinical research space let by BSM

Building 1030 Cambourne Business Park has been refurbished and is the largest office building currently available in the Cambridge area

Industrial The city centre is the focus of much letting activity. The latest office building to be constructed as part of the CB1 development around the train station is One The Square, comprising 137,000 sq ft. The building was completed in late 2016 and is almost fully let after Amazon took 60,000 sq ft at a headline rent of £37.00 per sq ft per annum, representing a new high for Cambridge.

10

Most of Cambridge’s industrial stock is located on its fringes, or in the surrounding towns and villages. Cambridge has little traditional manufacturing with the trend being more for trade counter units and R&D / light manufacturing (mid-tech) space from hi-tech businesses with which Cambridge is synonymous.

The industrial market is characterised by low levels of supply and steady demand. The lack of supply is pushing up prime rents

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

Contacts in the Cambridge Office

01223 467155 which stand at around £11 per sq ft per annum. Rents for secondhand units on business parks surrounding Cambridge generally range from £3.50 to £6.50 per sq ft depending on location and quality. There is a strong demand for smaller industrial units, especially freehold, with limited available stock. This is evident from recent sales and lettings of units at Glenmore Business Park just north of Cambridge, where BSM has been active in a number of deals.

There has been little speculative development of new units in the area, however work is expected to start shortly on some new units at Buckingway Business Park on the A14 north of Cambridge.

Developer Barwood has planning consent for four units of between 25,000 sq ft and 50,000 sq ft and the units are expected to be marketed at a rent of around £9 per sq ft per annum.

Glenmore Business Park - strong demand is in small to medium sized business units, particularly from owner occupiers

Retail Cambridge’s retail market is performing exceptionally well and is characterised by very low vacancy rates. While shop units in the prime historic city centre rarely become available we are also seeing strong demand and falling supply in good secondary locations, such as Mill Road and Chesterton Road. BSM has been active in these areas often agreeing lettings within a couple of weeks of units coming to the market. As with the office and industrial sectors, the squeeze on supply is pushing up Zone A rents with tenant incentives falling.

301 Mill Rd 300-302 Mill Road – letting agreed within days of going to the market

The Grafton Centre in Cambridge is undergoing an £18.5m revamp

The Grafton Centre is undergoing an £18.5 m revamp following Legal & General’s purchase in 2015. The vacant BHS store provides an opportunity for a new anchor tenant and the owners will be improving the food offering, with the city seeing a big revival with new independent and national outlets opening up in recent months.

Development & Investment Probably the most significant development is 50 & 60 Station Road, CB1’s latest new office building. At 163,000 sq ft, it is the largest speculative office development Cambridge has seen with Brookgate acting as the developer and with Aviva Investors providing £87m of forward funding. Completion is due February 2019.

Ben Green Agency, Investment and Development

Mark Critchley Agency, Valuations and Professional

Laurence Gercke Agency

Andrew Smith Property Management

Whilst the pace of student residential development has slowed a little, the sector remains buoyant with a shortage of beds across the city fuelling demand for new sites. Developer Watkins Jones is building a 222 room development on the former Wests Renault garage site on Newmarket Road, which is aimed at students at Anglia Ruskin University. Elsewhere, Mount Pleasant House on Huntingdon Road, a 1970’s office building, has received planning permission for redevelopment to 243 student rooms, with a pre-let agreed to a University College.

An exciting and long awaited infrastructure development is the new Cambridge North train station due to open this summer. Located near the Cambridge Business and Science Parks it will be a catalyst for mixed use development on one of the largest remaining brownfield sites in Cambridge.

Recent investment sales of note include Chequers House on Newmarket Road, a refurbished 8,000 sq ft office building let to Ashtons Legals for 15 years, which sold at a net initial yield of below 5%. In the city centre, 14-15 Market Street let to WH Smith sold for around 4% net initial yield.

Both sales demonstrate the huge demand for prime investment assets in the city.

Issue #12 • Spring 2017

11

Page 2

Cambridge P r o p er t y S e le c t ion

Page 2

OFFICE - FOR SALE

INDUSTRIAL - TO LET

Swavesey Trinity House, Buckingway Business Park, Anderson Road

Haverhill Unit 5 Tudor Rose Court, Hollands

Price: £625,000

Rent: £24,500 pax

› Modern detached office › Established business park › 6 miles north west of Cambridge › 379 sq m (4,082 sq ft)

› Modern industrial unit › Established commercial location › Ground and first floor offices › 365 sq m (3,927 sq ft)

01223 467155

2 01223Page467155

Page 2

RETAIL / OFFICES - TO LET

INDUSTRIAL - TO LET

3/14/2017

3/14/2017

Cambridge 87-89 Cherry Hinton Road

Cambridge 7-9 Regal Lane, Soham

Rent: £78,000 pax

Rent: from £4.50 pax

› Self-contained building › Prominent location near train station › 22 parking spaces › 336 sq m (3,615 sq ft)

› Five refurbished warehouse units › Good on-site parking within gated yard › 6 miles south of Ely › 175 – 589 sq m (1,888 – 6,338 sq ft)

01223 467155 12

01223 467155

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

Page 2

Industrial/R&D - TO LET

BUSINESS UNIT - TO LET/FOR SALE

Cambridge Units 9 & 10 Viking Way, Bar Hill

Waterbeach Unit 1, Glenmore Business Park

Rent: £35,000 pax

Rent: £40,000 pax; Price: £495,000

› Warehouse & offices › Suitable for alternative uses (STP) › 22 car spaces › 672 sq m (7,236 sq ft)

› Prominent business unit › Fronts busy A10 › 6m eaves/3 phase power › 444 sq m (4,783 sq ft)

01223 467155

01223 467155

OFFICES - TO LET

3/14/2017

Cambourne 2010 Cambourne Business Park Rent: £22.50 psf pax

› Modern office building › Grade A specification › Established business park › Ample parking › 8 miles West of Cambridge › 609 - 2,908 sq m (6,550 - 31,302 sq ft)

01223 467155 Issue #12 • Spring 2017

13

Cambridge P r o p er t y S e le c t ion RESTAURANT/TAKE AWAY - TO LET

INDUSTRIAL - TO LET

Caxton Unit 4, Caxton Gibbet Park

Sawston Units 4C & 4D Dales Manor Business Park

Rent: £25,000 pax

Rent: On application

› Modern roadside unit › Prominent location on A428 › Existing tenants: McDonalds, Costa & Subway › 116 sq m (1,250 sq ft)

› Units available individually or combined › Eaves height of 6.6 m › Good access to M11 & A14 › 1,013 – 2,546 sq m (10,902 – 27,406 sq ft)

01223 467155

01223 467155

OFFICES - TO LET

Sawston Kimbolton 2 Harvard Way, Unit N South Cambridge Harvard Industrial Estate Business Park Rent: £32,000 pax

› Attractive two storey office › Recently refurbished to a high standard › Established business park › Good access to Cambridge, M11, A11 & A14 › Air conditioning › 7 car parking spaces

01223 467155 14

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

TO LET HQ OFFICE BUILDING

BUILDING 1030 CAMBOURNE BUSINESS PARK CAMBRIDGE CB23 6DW • High quality Grade A office accommodation • Up to 43,332 sq ft (4,025 sq m) • Impressive full height glazed atrium reception and feature staircase • Benefits from an open B1 user planning consent

FOR FURTHER INFORMATION PLEASE CONTACT THE JOINT AGENTS: Cushman & Wakefield

MAX BRYAN 020 7152 5114

max.bryan@cushwake.com

Barker Storey Matthews

BEN GREEN 01223 448791

EPC’s available on request

bg@bsm.uk.com

Issue #12 • Spring 2017

15

Huntingd o n Ma r ke t C om m e nt a r y

HUNTINGDON 2016 and the beginning of 2017 has continued to see a good level of market improvement and so far there appears to have been no significant impact from last June’s Brexit vote!

One of the main features of the local market is a continued and growing shortage of supply of commercial property, particularly for larger industrial buildings and the office market has also continued to improve with a majority of larger buildings within the area now occupied. Perhaps the biggest news over the last year has been the return of some speculative industrial development with two sites now under construction in Huntingdon and several more planned within the local area offering principally smaller units for lease or buy. The development of Alconbury Weald Enterprise Campus continues strongly with over 800,000 sq ft now either complete, under construction or about to start on site.

The Huntingdon market has also been given a recent boost with the start works to Adam, enhanceHuntingdon the section ofOffice the A14 Overview byofRichard between Huntingdon and Cambridge, due to be completed in 2020. Construction works within the Huntingdon Town Centre are also well advanced, which will see the development of new stores for Next and Marks & Spencer.

Rental growth continues and landlords with rent reviews during the forthcoming year should take advice as in many cases rental uplifts are likely to be appropriate.

Overview by Richard Adam, Director, Huntingdon Office

Industrial A lack of industrial supply, particularly for better quality larger buildings, continues and this accounts for an overall reduction of larger industrial transactions. A number of occupiers are now looking at Design & Build opportunities.

18 Glebe Road, Huntingdon

The effect of the lack of supply has been seen at Alconbury Weald where MM UK are close to completing a new 300,000 sq ft facility.

Canadian company IKO have recently commenced construction of a new high tech 360,000 sq ft manufacturing unit for the production of insulation products and a third unit of 120,000 sq ft for John Adams Toys has also recently started on site and is due for completion in the Autumn.

Acting on behalf of Peer Group Plc, we arranged for the letting of the whole of the former Lola building at 18 Glebe Road, Huntingdon, to Phoenix Doors, who have relocated from two sites at Somersham and Bluntisham. The building comprises 64,983 sq ft made up of offices, warehouse and production space.

Elsewhere, Units 1 & 3 Burrel Road comprising 9,406 and 12,238 sq ft respectively have been sold on behalf of Linx. The smaller unit was sold to a local occupier and the larger unit to a developer who plans to refurbish the building and construct three units on surplus land to the rear. Unit 7, Cardinal Park, Godmanchester, comprising 5,598 sq ft was let to Baxi Heating Ltd whilst Unit B3, Spitfire Close, on the Ermine Business Park, Huntingdon, a modern 5,740 sq ft industrial unit, has been let to Trime Ltd, an Italian lighting company.

At the end of 2016 Unit 5, Warboys Industrial Estate, a 28,680 sq ft warehouse, was sold to Jaipur Furniture whilst Keco Ltd purchased Unit 2 at the Harvard Industrial Estate, a modern 21,455 sq ft industrial facility with expansion land, at Kimbolton. The latter was Unit 2, Harvard Way 21,455 sq ft sold to Keco

In addition to this, work on The Club building, which provides a gymnasium, restaurant facilities and meeting rooms, was completed last year. Finally, work was recently started on the iMET Skills Centre building of 25,000 sq ft which will open at the end of 2017.

Several speculative industrial developments are now under way in Huntingdon, including at Hinchingbrooke Business Park with the construction of Falcon Court and Kingfisher Court by Barnack Developments Ltd.

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BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

Contacts in the Huntingdon Office

01480 451578 Alan Matthews sold, after receiving high levels of interest, on a best bids basis.

Supply has been even more restricted in St Neots although at the end of 2016 terms were agreed for the letting of Unit 1, Alington Road, a modern 11,800 sq ft factory with yard, to a local engineering company. In St Ives, Unit B, The Lakes Business Park, a 6,900 sq ft unit, has been leased following the previous deals to Vindis and Cambridgeshire Constabulary.

Offices The market for offices was steady through 2016 with an emphasis on freehold sales although a number of key lettings also completed.

Cybit House

We are now at a point in the market cycle where supply is limited but there is unlikely to be any new development for the foreseeable future due to the disparity between rents, capital values and build costs. Top rents are in the region of £15.00 to £15.50 per sq ft and capital values are around £150 to £160 per sq ft. This inevitably means that rents and capital values must rise in the coming year.

Vantage House

St Ives Unit S3, at Compass Point, comprising 5,531 sq ft was sold to 360 Commercial Properties Ltd. At St Neots there is a continued shortage of supply with almost no space available at Colmworth Business Park. We arranged for the letting of the 4,157 sq ft HQ1 building at Phoenix Park, St Neots to Stelec (UK) Ltd who are a dental supplies company.

Richard Adam

Investment

Stephen Power

With continued low interest rates, demand for investment property continues to strengthen with good demand in all sectors.

Yields have undoubtedly hardened since this time last year as investors struggle to find returns elsewhere and sentiment continues to improve with the growing confidence of rising rents and capital values and an improved letting market, should properties become vacant.

This is demonstrated with a 21,000 sq ft office building, let to Anglian Water with just over 11 years to lease end and fixed increases at the next 2 rent reviews, which has, at the time of writing, gone under offer at a yield of sub 6% representing a capital value of around £250 per sq ft.

Industrial stock is generally more sought after than offices with strong demand for all multi-let estates as well as single buildings. Larger modern buildings are in strong demand with 100,000 sq ft unit at Godmanchester, let to the Co-op with 5 years remaining, changing hands at £9.3m, representing a yield of around 5.5%.

Development Terms were agreed towards the end of 2016 for the sale of Vantage House, comprising 8,000 sq ft. Cybit House, also 8,000 sq ft located on the Hinchingbrooke Business Park, has been let to the NHS with fitting out due to be completed this Spring whilst at Falcon Court, Hinchingbrooke Business Park

There continues to be strong demand for residential development land as a result of residential values approaching £280 to £290 per sq ft for good quality housing, with higher rates achievable for small flats.

Land values are in the region of £1m per acre and can fetch up to the equivalent of £2m per acre for high density schemes.

Barker Storey Matthews recently concluded a sale of 0.25 acres located on Huntingdon ring road, on behalf of for Cambridgeshire Police, at a price of £500,000.

Agency, Investment and Development

Agency and Development

Agency, Investment and Development

Matthew Hunt Agency

Tom Campbell Agency

Michael Beardall Valuations and Professional

Andrew Smith Property Management

Julian Lucas Property Management

Wendy Burcham Property Management and Accounts

Leonie Stennett

Issue #12 • Spring 2017

Property Management

17

Huntingd o n P r o p e r ty S e le c t ion OFFICE - TO LET

LEISURE / DEVELOPMENT (STP) - FOR SALE

St Ives 2 Magellan House, Compass Point

St Neots 58 Market Square

Rent: £19,000 pax

Price: Offers in the order of £650,000

› Self contained first floor office suite › Comfort cooled and high standard throughout › Close to St Ives town centre and A14 › 130 sq m (1,400 sq ft)

› Town centre freehold › Former wine bar suitable for a range of uses (subject to planning) › Prominent location off Market Square › 379.3 sq m (4,085 sq ft)

01480 451578

01480 451578

INDUSTRIAL - TO LET

OFFICE - TO LET

St Neots Brigade House, Alington Road

St Ives Unit 14C Raleigh House, Compass Point

Rent: On application › Modern business unit with secure yard › Excellent location adjacent to A428 and close to A1 › Two storey front offices › 631 sq m (6,800 sq ft) plus mezzanine and store - total 1,026 sq m (11,044 sq ft)

01480 451578 18

Rent: £14,500 pax › Modern ground floor offices › Comfort cooling › On-site parking › 89.4 sq m (962 sq ft)

01480 451578

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

Page 2

OFFICES - TO LET

INDUSTRIAL - FOR SALE

Chatteris Zion Building, Park Street

Huntingdon Unit 11 Glebe Road, St Peter’s Road Industrial Estate

Rent: from £14,810 – £34,370 pax › Ground and first floor offices › Handy for Chatteris town centre › Private car park › Suites available from 137.6 sq m (1,481 sq ft) – 318 sq m (3,433 sq ft)

Price: £720,000 › Detached warehouse/industrial unit › Offices, reception and separate male and female wc facilities › Allocated on-site car parking › 943.51 sq m (10,156 sq ft)

01480 451578

01480 451578

INDUSTRIAL - TO LET

3/14/2017

Huntingdon A4/A5 Spitfire Close, Ermine Business Park Rent: from £86,600 pax

› Modern business/warehouse unit › Good sized adjacent car park › Established location only a short distance from A14 connection nearby › 6m to eaves › Potential for increased office content › 484 sq m-1,178 sq m (5,216 sq ft-12,682 sq ft)

01480 451578 EPC’s available on request

Issue #12 • Spring 2017

19

Huntingd o n P r o p e r ty S e le c t ion INDUSTRIAL - TO LET

Huntingdon Units B3 & B4 Tower Close Rent: from £49,975 pax

› Warehouse/Industrial Premises › Good size front yard/rear car park › Convenient location adjacent to bypass with connection to A14 › 6.5m to eaves › Unit B4 has 3,025 sq ft offices › Sizes from 926 sq m (9,967 sq ft) to 2,000 sq m (21,524 sq ft)

01480 451578 OFFICES - TO LET

Huntingdon Second Floor, Godwin House, George Street Rent: £67,750 pax

› Excellent town centre offices › Fully refurbished including air conditioning, new heating, suspended and recessed lighting › Close to Huntingdon railway station › On-site parking › 502 sq m (5,412 sq ft)

01480 451578 20

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

OFFICE / DEVELOPMENT (STP) - FOR SALE/TO LET

BUSINESS UNIT - TO LET

Ramsey Former Police Station, Blenheim Road

Sandy Country Works, Sunderland Road

Rent: £31,500 pax Price: Offers invited › Suitable for a range of uses subject to planning › Substantial yard and car parking › Close to Ramsey town centre › 437 sq m (4,702 sq ft)

› Business unit incorporating offices, workshop and mezzanine › Fenced external compound and car parking › Good location not far from A1 junction › 448.9 sq m (4,832 sq ft)

Rent: £35,000 pax

01480 451578

01480 451578 INDUSTRIAL/WAREHOUSE - TO LET/FOR SALE

Huntingdon Kingfisher Court and Falcon Court, Hinchingbrooke Business Park Rent: from £12,500 pax Price: from £235,750

› Two new industrial/warehouse developments › Units available for sale and to lease › Completion Autumn 2017 › Prime location next to Marriott Hotel › 145 sq m (1,560 sq ft) to 761 sq m (8,160 sq ft) › 4 units now sold/let

01480 451578 EPC’s available on request

Issue #12 • Spring 2017

21

Huntingd o n P r o p e r ty S e le c t ion DEVELOPMENT LAND - FOR SALE

Chatteris Fenton Way Price: On application

› Commercial development land › Up to 7.12 hectares (17.6 acres) › High visibility location › Adjacent to A141 › Smaller plots or larger sites considered

01480 451578 DEVELOPMENT LAND - FOR SALE

Ramsey Ramsey Business Park Price: On application

› 6.4 hectares (15.8 acres) › Outline consent for children’s day nursery, car sales and a renweable energy CHP plant. › Close to Ramsey town centre › Adjacent to the B1040 and the Tesco Superstore

01480 451578 22

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

UNIT 1B Rent: £50,000 pax

Kestrel Place, Hinchingbrooke Business Park

• Two modern light industrial/ warehouse units • 716 sq m (7,708 sq ft) and 963.3 sq m (10,370 sq ft) • Available individually or combined to provide 1,679 sq m (18,078 sq ft)

INDUSTRIAL/WAREHOUSE UNITS TO LET - HUNTINGDON

UNIT 2 Rent: £69,995 pax

Kestrel Place, Hinchingbrooke Business Park

• Prime location on Hinchingbrooke Business Park • High quality offices to each unit • Immediate access to the A134 • Private parking and goods loading areas • Heating and lighting provided

EPC’s available on request

MATTHEWS Issue #12 • Spring 2017

23

Huntingd o n P r o p e r ty S e le c t ion Nottingham Grantham

EAST MIDLANDS

King’s Lynn

A1

M1

EAST COAST MAINLINE

Leicester

Norwich

Peterborough A1M

← Birmingham A605 A14

Coventry

Huntingdon

A11

THE BUSWAY

Northampton A45

A14

St Neots Sandy

Bedford Milton Keynes

Cambridge

Ipswich

A421 M11

LONDON LUTON Stevenage

Luton A34

M1

A1M

Oxford

Reading

D

A12

O

N

Tilbury Docks

LONDON CITY

M4 LONDON HEATHROW

Basingstoke

N

LONDON STANSTED

Chelmsford

M40

L O

Felixstowe

Bishop’s Stortford

M25

CROSSRAIL FROM 2018

CAMBRIDGE AIRPORT

THAMESLINK

M3

M2 LONDON GATWICK

M23

Crawley

Maidstone

M20

Dover/Folkestone →

Brighton

24

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

— Offices from 5,000-50,000 sq ft — Flexible MidTech buildings from 25,000-50,000 sq ft — Bespoke design and builds up to 500,000 sq ft All alongside: — iMET – dedicated business-led skills centre — EDGE: free recruitment and training partnership for businesses — Gym, café and meeting rooms in The Club — On-site nursery, school and shop — Landscaped setting, with cycle routes and walks to the growing community and facilities of Alconbury Weald.

Urban&Civic The Club, The Boulevard, Enterprise Campus, Alconbury Weald, Huntingdon, Cambridgeshire PE28 4XA alconbury-weald.co.uk | T: 01480 413 141

EPC’s available on request

Barker Storey Matthews T: 01480 451578 Alan Matthews arm@bsm.uk.com Richard Adam rha@bsm.uk.com Issue #12 • Spring 2017

25

Buildin g S u r v e y i n g S ervi c es BSM Noble are able to offer comprehensive building surveying services ranging from a simple defects inspection through to full project management for new build projects.

We provide cost consultancy and feasibility studies and act for a diverse client base from individuals, small property companies and developers to institutional investors and local authorities.

Project Management:

Development Monitoring:

Management of the design and construction process on new build and major refurbishment projects from inception through to completion.

Monitoring major construction projects on behalf of freehold investors, funding institutions or tenants ensuring that the works are designed and constructed in accordance with the development brief.

Refurbishment:

Health & Safety:

Managing the construction process from inception through to completion including all pre and post contract services, financial control and dealing with any necessary statutory approvals.

Acting as Principal Designer under CDM 2015 on both new build projects and works to existing buildings.

Schedules of Condition: Preparation of schedules of condition to accurately record the condition of leasehold premises at the lease commencement date.

David Park DipBldgCons FRICS

David Park, Director of BSM Noble has considerable experience in Building Surveying and has been involved in numerous projects throughout the UK. Prior to forming BSM Noble as a JV company with Barker Storey Matthews in 2011, David spent 19 years running Noble Consultancy, an independent firm of Project Managers and Chartered Building Surveyors, providing a full range of services for commercial and industrial premises.

David has acted for a number of well-known clients ranging from small property companies to major corporates and institutions.

While the main areas of operation are East Anglia, the Midlands, the Home Counties and Central London, David has also been involved with major projects in Dartford, Shrewsbury, Liverpool and Glasgow and will continue to offer the full range of building surveying services on a national basis.

For further information and to discuss any requirements call David on 01733 233445 or email david@bsmnoble.uk.com

26

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

Dilapidations: Preparation of interim and final schedules of dilapidations on behalf of landlords.

Representing tenants where interim or final schedules have been served.

Repairs & Maintenance:

Detailed Building Surveys:

Defect Investigation:

Building Conservation:

Preparation of planned maintenance programmes for individual properties or property portfolios and dealing with all pre and post contract services relating to repair and maintenance projects.

Preparation of detailed building surveys prior to the purchase of freehold or leasehold interests in commercial and industrial property.

Investigating building defects, identifying symptoms, causes and necessary remedial works and, if appropriate, arranging for repairs to be carried out.

Expertise in dealing with refurbishment, repair and maintenance works to historic buildings.

….and we also deal with • Insurance Valuations • Party Wall Matters

BSM NOBLE MATTHEWS

01733 233445

21 Commerce Road, Lynch Wood, Peterborough, PE2 6LR

Issue #12 • Spring 2017

27

Peterbor o u g h Ma r ke t C o m m e nt a r y

PETERBOROUGH Last year we reported that there was an acute shortage of stock, especially in the office sector but also with limited supply of larger industrial and warehouse buildings. This situation has not changed although the demand for offices has perhaps weakened a little, particularly at the smaller end of the market. There is some limited supply of larger industrial/warehouse buildings but it does seem clear that occupiers will pay premium rents for better quality stock. The “Brexit” debate is becoming tiresome albeit with unclear direction this has and will continue to be perhaps a consideration rather than a definitive reason for companies deciding whether to commit to property transactions.

Overview by Steve Hawkins, Director, Peterborough Office

Industrial/Warehouse Market Top Sector Following national trends it would seem that the industrial and warehouse sector was the star performer at the end of 2016 and it certainly looks as if 2017 will continue in the same vain unless the economy wobbles.

Development is gathering pace at Roxhills Gateway scheme adjacent to the A1 with Pressglass taking a site which will be able to accommodate north of 400,000 sq ft and Kingsley Beverages taking a further site, with work having now commenced on site for the development of a new 165,000 sq ft manufacturing facility. Plot 100, adjacent to the main site entrance has been taken by an occupier for the development of a building extending to around 240,000 sq ft which will be ready for occupation around the start of Q4 this year.

Several occupiers are in negotiation for buildings ranging in size from 130,000 to around 400,000 sq ft. This could result in over 1.5 million sq ft being developed pretty quickly. At Orton Southgate we have pre-let a new 47,000 sq ft facility with the unit due for completion in the Summer.

Midas 2 Orton Southgate – Pre-let at £5.85 per sq ft

The first new speculative Industrial development in the Eastern industry to commence for 10 years, Newark East, located in Newark Road, Peterborough, is now well underway with steelwork due to be finished by the end of April and the first occupier will be in occupation by early July. Units are available to let in sizes from 1,800-26,000 sq ft and 4 units are already reserved. Rents are from £6.50 to £7.50 per sq ft.

Newark East follows hard on the heels of the successful Kingston Park, where Barnack Estates UK Ltd have sold and developed 13 acres of land. The final unit, developed for Stanground Autos, was occupied recently and within the Kingston Park scheme, a 7 unit trade/showroom park branded Lakeside Court has also attracted occupational interest with only one unit of 3,338sq ft remaining. Quoting rent is £8.00 per sq ft.

A number of planning applications have been submitted, with some already granted, for new industrial developments in Yaxley, on or close to the Eagle Business Park. The new industrial developments will offer units for sale or to let and should be completed by late 2017/early 2018.

A further site in Yaxley offering occupiers design and build opportunities should also be available by the middle of this year, subject to planning consent being granted.

Investment yields harden As with other sectors, the stock of available investment property is in short supply. The “weight” of money in the market has continued to drive down yields with any decent quality properties tending to be sold in “best bid” situations. This is great for vendors but not so good for buyers who can spend some time, as they should, researching occupational demand and pricing before offering. We can only recommend offering in markets that are already known, to speed the process up !

Several office buildings in the city, let on leases with at least 10 years to run have exchanged hands well below 7% and approaching 6.256.5% net of costs. Three buildings have sold at the Forum at yields around the 7.5% net level, the latest being unit 1, sold in March 2017, let to Macintyre Hudson on a new lease, at close to the asking price of £825,000. Thorpe Wood House, let to Anglian Water with around 11 years unexpired has been marketed at a guide price of £13.25 million representing a net initial yield of 7.5% but we would expect this price to be exceeded accounting for the lease length and covenant strength of the occupier.

Unit 1 The Forum Investment Sale attracted considerable interest

Visual of Newark East

28

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

Contacts in the Peterborough Office

01733 897722 Tony Barker

Retail remains a strong performer The retail sector in Peterborough continues to perform well. The City has a vacancy rate of just 4.2% compared with the national average of 11 % (Source: BSM and Local Data Company).

Demand has been driven by the Food and Beverage sector, with new entrants to the City including Wagamama, The Pizza Parlour, Kaspas and Cote. Turtle Bay and Middletons Grill are fitting out at present, and micro-pubs have started to appear including Puzzles, The Bumble Inn and The Stoneworks. In addition a wine bar is planned for Cumbergate.

B&M Home Bargains have taken over the former M&S unit on Bridge Street which will help bring back footfall following their departure last year. We have acted in the disposal of the freehold to private investors. E-Cig Wizard have taken the long-empty former H Samuel unit at the junction of Bridge Street and Cathedral Square and we assisted in the relocation of Peterborough’s own success storey and city based Yours Clothing to 22-24 Bridge Street whilst disposing of their former store to Millets who relocated themselves from Long Causeway.

Yours Clothing, 22-24 Bridge Street Peterborough

The Queensgate Centre has just started an £8 million re-fit of the malls, to be followed by a £38 million extension starting next year which will incorporate a new Cinema, larger store for Next, and other new retail and restaurant units. Other recent openings in the scheme include Hotel Chocolat, Fraser Hart and Mac, New Look are fitting out and Pandora have relocated into a new bigger store.

Office sector strong but lack of stock dents performance The number of transactions completed for office accommodation during 2016 was low by previous years standards simply due to the lack of stock available in the market place. The most notable news was Thomas Cook completing and moving to its new 100,000 sq ft HQ at Lynch Wood, Peterborough Business Park.

RNIB also completed on around 8,500 sq ft at Midgate House in the city centre whilst Charis Grants completed on just under 6,500 sq ft at Trinity Court and United Learning completed on around 10,500 sq ft at Worldwide House at Thorpe Wood.

The city has an acute shortage of “grade A” space especially in out of town locations albeit the level of enquiries since the “Brexit” result has reduced.

What is clear is that with increasing build costs and an overall shortage of land available for immediate development, rents are going to have to be close to £19 per sq ft or possibly higher to stimulate new development. We are going to be promoting a new development at Cygnet Park, Hampton with rents close to these levels.

The City continues to prove attractive to a wide range of operators, and as a result of recent take-up there is very limited supply at present.

Valuations, Professional, Investment and Development

Steve Hawkins Agency, Investment and Development

Richard Jones Agency and Development

Julian Welch Agency

Simon Burton Agency, Investment and Development

Martin Hughes Valuations and Professional

John Dadge Planning and Development, Residential Land Sales

Andrew Smith Property Management

New office Development at Cygnet Park offering buildings from 4,240 sq ft to 8,916 sq ft net

Hannah Speechley Agency and Professional

Issue #12 • Spring 2017

29

Peterbor o u g h P r o p e r t y S e le c t io n BAR/RESTAURANT/SHOP - TO LET / FOR SALE

WAREHOUSE UNIT - TO LET

R

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Peterborough 4 Cumbergate

Peterborough 4 Fairweather Court

Rent/Price: On application

Rent: £13,750 pax

› Prominent City Centre Location › Just off Cathedral Square at entrance to Queensgate › Period building with host of features › Full height atrium to rear

› Modern Light industrial/warehouse unit › Fitted with office and toilets › 213.3 sq m (2,296 sq ft)

01733 897722

01733 897722

INDUSTRIAL UNITS - TO LET

Peterborough 1-6 Manasty Road Rent: On application

› Peterborough’s premier Industrial & Distribution location › Units can be combined to provide 2,787 – 3,716 sq m (30,000 or 40,000 sq ft) › Prominence to Newcombe Way › Full height loading doors › 5.4m to eaves › 929.03 – 6,503.21 sq m (10,000 – 70,000 sq ft)

01733 897722 30

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

OFFICES - FOR SALE/TO LET

RETAIL - FOR SALE

Peterborough 26 Priestgate

Whittlesey 44-46 Market Street

Rent: £12,500-£29,950 pax Price: On application

Price: On application

› Self-contained office premises › CityFibre broadband connection › City centre location › Serviced suites also available on flexible terms

01733 897722 RETAIL - TO LET

› Significant frontage to Market Street › Substantial 4 bedroom flat at first floor › Parking, garden and outhouse to the rear › Suitable for a number of uses subject to planning

01733 897722 TRADE COUNTER UNIT - TO LET

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Peterborough 939 Lincoln Road

Peterborough Unit 5 Titan Drive

Rent: On application

Rent: On application

› Highly prominent main road location › On-site parking for 12 vehicles › Suitable for a variety of uses (STP) › 442.51 sq m (4,763 sq ft)

› 487.3 sq m (5,245 sq ft) available immediately › Small mezzanine floor › Frontage onto Fengate › Nearby occupiers include Switch Electrical, Eurocell and Plumb City

01733 897722 EPC’s available on request

01733 897722 Issue #12 • Spring 2017

31

Peterbor o u g h P r o p e r t y S e le c t io n WAREHOUSE/INDUSTRIAL UNIT - TO LET

› Popular estate › Two storey offices › Newly refurbished including new windows › New lease › Available immediately › Unit 936.18 sq m (10,077 sq ft)

Peterborough 22 Maxwell Road Rent: £35,000 pax

01733 897722 TRADE COUNTER/WAREHOUSES - TO LET

Peterborough Brookfield Trade Park Rent: £8 psf pax

› New build scheme › Fronting the A15 and close to new Lidl › First unit taken by Screwfix › Option for own compounds › Available late 2017 › Units from 328.97 - 657.93 (3,541 - 7,082 sq ft)

01733 897722 32

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

NEWARK EAST TO LET

WAREHOUSE / TRADE COUNTER - PETERBOROUGH

MATTHEWS

• Newly constructed units available summer 2017 • All units have road visibility • 167 – 1,415 sq m (1,800 – 26,000 sq ft) • LED Lighting throughout • 6-8m eaves • Excellent EPC’s available onlevels requestof

parking

Issue #12 • Spring 2017

33

Peterbor o u g h P r o p e r t y S e le c t io n

Rivergate Centre, Peterborough PE1 1EL

Units of 1,001 - 2,854 sq ft (sales area)

› Opposite the Law Courts › 4m + annual footfall › On site parking › Third fastest growing City in the UK › £2.5m improvement in the street scene › Flexible leases available

Situation

The Rivergate Centre is located in a prominent position on Lower Bridge Stre ping area, and directly opposite Peterborough Magistrates Court. The shoppin arranged over one level, with 26 units and on site parking for 470 cars.

Whilst it prides itself on being able to offer affordable space for speciality an occupiers including Asda, Iceland, Peacocks, Subway, Multiyork and Poundworl

Other operators in the immediate vicinity include Marks and Spencer, T K Max Centre enjoys a very good level of visitor numbers – last year over 4 million

UNIT 13 - TO LET

PRIME RESTAURANT : 4,346 SQ FT

MATTHEWS 34

For more information contact: Julian Welch 01733 897722 jw@bsm.uk.com

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

OFFICES - TO LET

INDUSTRIAL - TO LET

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Peterborough Southgate House, Orton Southgate

Peterborough Peartree Business Centre

Rent: On application

Rent: £12,500 pax › Good levels of on-site parking › Refurbished warehouse/industrial units › Units of 217.57 sq m (2,342 sq ft) and 239.32 sq m (2,576 sq ft) available immediately › Vacant open storage land of 0.18 acres to let for £8,750 per annum exclusive

› Self-contained detached office premises › Business park location adjacent A1(M) › Dedicated parking area › Part comfort cooled

01733 897722 OFFICES - TO LET

01733 897722 INDUSTRIAL - TO LET

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Peterborough Suite 17 Cross Street Court

Whittlesey, Peterborough Unit B1 Lattersey Hill, Whittlesey

Rent: £7,500 pax

Rent: £3.95 psf pax

› Quality city centre offices › Close proximity to railway station and Queensgate shopping centre › Modern open plan suite › Passenger lift to all floors

› Fenced and gated site › Clear span unit › 2,209.03 sq m (23,778 sq ft) clear span unit available immediately › Unit has been recently refurbished

01733 897722 EPC’s available on request

01733 897722 Issue #12 • Spring 2017

35

Peterbor o u g h P r o p e r t y S e le c t io n LANDMARK REFURBISHED OFFICES - TO LET

› City centre location › Air conditioning › Exposed ceilings with LED lighting › Full access raised floors › Refurbished reception, WC’s and core areas › On site parking › 320.5 – 1,299.9 sq m (3,450 – 13,993 sq ft)

Peterborough Northminster House Rent: On application

01733 897722 OFFICES - FOR SALE/TO LET

Peterborough Telsa Court, Innovation Way Rent: from £1 psf pm (inc service charge)

› Suites to let from 570 sq ft – 2,200 sq ft › Buildings for sale from 1,600 sq ft – 2,200 sq ft › Prime business park location › Flexible leases available › On site parking

01733 897722 36

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

COMMERCIAL LAND - FOR SALE/TO LET

Peterborough Titan Drive Price: On application

› Plots of 0.39-3.67 acres available › Set in an established mixed use area › Suitable for a number of uses subject to planning › Units of 634.06 – 6,038.65 sq m (6,825 – 65,000 sq ft) can be accommodated on site › Unit 5 at the front of the estate (5,245 sq ft) also available to let › Unit 5 benefits from frontage to Fengate

01733 897722 GRADE A OFFICES - TO LET

Peterborough Worldwide House Rent: On application

› Located just to the West of the City Centre › Air conditioning › Full access raised floors › Refurbished space including LED lighting › On site restaurant › Excellent levels of parking › 987.06 – 5,13.37 sq m (10,625 – 55,300 sq ft)

01733 897722 EPC’s available on request

Issue #12 • Spring 2017

37

PROPERTY MANAGEMENT SOLUTIONS Rent collection is one thing but managing your property correctly and efficiently can improve your asset value and performance in the long run.

At BSM we provide a fully comprehensive and specialist management service to a whole range of clients including pension funds, plc companies, government departments, councils, banks, accountants, solicitors, trusts and individuals.

We manage shopping centres, single retail units, industrial and trading estates, offices, business parks and individual buildings. We provide an efficient service in the management of commercial property across East Anglia and the south-east.

Several directors run the department emphasizing the importance we place on the day to day management of our clients’ assets.

If you are interested in outsourcing your property management and would like an informal chat please feel free to call Andrew, Wendy, Julian or Leonie in the first instance on Andrew Smith

38

Julian Lucas

Wendy Burcham

Leonie Stennett

BSM Commercial Property Supplement • Find more online at www.bsm.uk.com

01480 451578

SUFFOLK BUSINESS PARK Bury St Edmunds

For Sale or To Let A Prominent Gateway Development providing a 57 Acre Business Park with a variety of plots available

suffolkbusinesspark.co.uk

New Business Units & OfďŹ ces, Design & Build Options from 5,000 to 100,000 sq ft

For all enquiries contact the agents

Developer

IssueThe #12 • Spring 2017 39 Churchmanor Estates Company Plc

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