20 minute read
Strong commercial property market in Corby
Commercial property sales have been particularly good with Budworth Hardcastle having reported sales including: Unit 8 Princewood Road in an off market deal totalling 24,400 sq. ft. and the subsequent sale of Unit 9 Princewood Road totalling just under 50,000 sq. ft. to Wise Logistics, as part of their continued expansion and offering warehouse facilities to their clients.
Sales have also been made at the other end of the size scale with Units 2 and 4 Kemp House totalling 3,000 sq. ft. sold to local owner occupiers to be used as garage premises and Unit 16 being 1,500 sq. ft. also going to owner occupiers.
Further transactions are about to be agreed within the scheme showing how strong the market is at present for freehold property within the town, with a number of enquiries that we have being unable to fulfil.
Land has been in strong demand with Budworth Hardcastle involved in the sale of 7.62 acres of the original 23 acre Manton Park site off Cockerel Road being the final parcel of land to be sold to owner occupiers. Also, in the Phoenix Parkway area 1.5 acres was sold at Courier Road for again an owner occupier to develop their business on.
Earlier this year acting on behalf of Tata – Budworth Hardcastle have sold a 23 acre site to Solihull based Warmflame Developments Ltd, developers specialising in the logistics/distribution development sector. Warmflame have remediated the Curver Way site and upgraded the services to it. On receipt of planning the site was sold to Netherlands based NewCold who are already on site developing out the first phase of the 635,000 sq. ft. building. The unit will store frozen food products for NewCold’s ever expanding customer base.
The letting market has also been extremely buoyant throughout 2020 seeing the lettings by Budworth Hardcastle of three units within the Willowbrook Centre totalling over 60,416 sq. ft. to Pluswipes Ltd as part of their continued expansion. On Pywell Road, Unit B Bracknell House, a semidetached building totalling 11,599 sq. ft, was let to local and international company MMC as part of their continued success and expansion within the town.
On the Earlstrees Estate, some notable lettings by Budworth Hardcastle included the expansion of Impact Forktrucks into the 23,047 sq. ft. semi-detached building, and just around the corner at 85a Brunel Road, totalling 11,115 sq. ft. was let to motor racing company Richardson Racing Ltd expanding into larger premises.
Also, on the Earlstrees Industrial Estate is the newly refurbished Marconi Courtyard where units of between 3,661 sq. ft. up to over 11,000 sq. ft. are now available on new leases, a recent letting completed at Unit E totalling 3,664 sq. ft. to local and expanding company Sinclair Engineering Solutions.
The market has continued its strength into 2021 with both Units 102 and 103 Brunel Road currently under offer totalling just over 22,000 sq. ft. each and 63 Causeway Road totalling approximately 41,951 sq. ft. due to be occupied at the beginning of March that will involve a significant expansion of a local company to be announced later.
The firm’s Building Consultancy Team have also been busy in Corby having assisted Bakeaway with Project Monitoring of their new build 92,000 sq. ft factory via Clowes at Centrix Business Park with production line fit
Strong commercial property market in Corby
Commercial property consultants Budworth Hardcastle report that 2020 has proved to be a very strong property market for them in Corby despite Covid-19 and is resulting in a shortage of available properties within the town. Europa Worldwide Group’s 715,000 sq. ft new build logistics warehouse out completed during 2020. Development Monitoring of Europa Worldwide Group’s 715,000 sq. ft new build logistics warehouse at Midlands Logistics Park, via Mulberry Developments, was a major project the team were delighted to be involved in, as this represented the 4th major new build scheme with the Europa Team. Neilson Racing, who have The market has continued competed in the European Le Mans Motor Racing Series, were also assisted in 2020 with its strength building inspections at Omega Court. into 2021 Gilbert Harvey of Budworth Hardcastle said: “As you will see it has been a very busy year despite the various lockdown issues of Covid-19 and we are now getting very short of available stock in industrial warehouse sector within the town, having enquiries that are struggling to be satisfied for their new requirements.”
Further details contact Gilbert Harvey, Budworth Hardcastle, 01536 483400.
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Print company Kanda Print has taken another step forward in its 30-year history with a new partnership with Corby-based multi-channel marketing company Square Media.
Managing Director of Kanda Print, Lee Rockingham, and Square Media’s Managing Director, Matthew Rigby-White shared their thoughts in a recent session. Programme Manager Daniel Cope explains:
So, Lee, what made you look for a partnership with a print and merchandise company? LR:- “We have hundreds of print clients that obviously use print and promotional items to market their company and we are often asked for help with other areas of marketing, both traditional and digital. To give our clients a solution for their signage needs, we acquired Brunel Signs in 2019 and partnering with Square Media means that we can now kick our way into the digital world.” We’ll
definitely
Was it the same for you Matthew? MRW: “We take pride in offering our clients a full service marketing solution and often part of that is be looking for other partnerships print or promotional merchandise. in the Before partnering with Kanda Print, we would find ourselves spending future time getting competing quotes, juggling contacts, and trying to work out which supplier was the best for our clients. With Kanda Print we know that they will treat our clients like their own and offer the best service for the job, at the best price.”
Why Square Media, Lee? LR: “Whenever we were asked to recommend a marketing agency, we always referred our clients to Square Media. In fact they’ve designed and will be promoting our new website www.kandaprint.co.uk - it makes sense to us that if we’re happy to work with Square Media for ourselves, then our clients know that our recommendation is based on experience and satisfaction with the service provided.”
With the new partnership what can clients expect to see? LR: “Our clients come to us because they need to market their businesses. With our companies working side by side our customers can be sure that we will work together, as a partnership to deliver successful marketing campaigns.”
MRW: “At Square Media we think that when the client comes to us they want us to offer exactly what we say we will – an entire marketing department, and that includes print too. With this partnership we can provide a single point of contact and a truly multi-channel service. We offer the co-ordination, planning and fulfilment of marketing campaigns making the whole process smoother and more efficient for our clients.”
Will either of you be looking at more strategic partnerships in the future? LR: “Now that we’ve seen how much strategic partnerships can add to the service we can offer our clients, we’ll definitely be looking for other partnerships in the future.” MRW: “Definitely. We think a new partnership will be an added bonus for our clients, then we’re happy to talk to other companies looking to form new relationships. I firmly believe that local businesses are stronger when we work together, and that vision is shared by all of our partners.”
If you are looking for help with your print, signage, marketing, digital marketing or promotional items call 01536 266164 or see the website at www.kandaprint. co.uk
New business park plan to support growth of engineering and motorsport
A new industrial park is going to be developed to help the growing high-performance engineering and motorsport sector.
The scheme will build on the success of the adjacent industrial estate and provide a complimentary opportunity for economic growth
Commercial developer Clowes Developments is looking to develop a new 345,300 sq. ft. (32,052 sq. m) industrial scheme Podium Business Park, close to the Silverstone circuit, which could offer a highly visible anchor for this sector.
The importance of highperformance engineering and motorsport has long been recognised in Northamptonshire as a driver of the local economy in terms of jobs and value added, as well as inward investment.
Northamptonshire’s long history in the highperformance engineering sector started with Silverstone in the 1950s but has significantly expanded and diversified. This has put increasing pressure on the County to make
available the right quantity and quality of land and premises to attract and retain such high value businesses. Commercial agent, Prop-Search has been instructed as sole marketing agent and Terms are available on Director Ian Harman said: “At the traditional core of high-performance engineering in Northamptonshire a freehold is the manufacture of F1 and other or leasehold racing cars and engines. However, basis the supply chain includes a large number of associated companies which provide niche products, testing and measurement services, and high-end customised finishes – often requiring bespoke premises. “This scheme will build on the success of the adjacent industrial estate and provide a complimentary opportunity for economic growth in West Northamptonshire, in a location which has high quality links to local, regional and national markets.”
James Richard, Director of Clowes Developments, added: “With our philosophy and emphasis on delivering premium quality buildings, we are confident that Podium Business Park can present such individuality and high specification as required by this sector. We are able to provide occupiers with bespoke fit-out solutions to suit individual occupier requirements and terms are available on a freehold or leasehold basis.”
Further information on the development and the opportunities available can be viewed on the scheme’s website - www.clowes-podium. co.uk - or through the agents, Prop-Search - Telephone: 01604 492000.
Housebuilder’s growth brings jobs boost
Northampton-based housebuilder Barratt and David Wilson Homes South Midlands is continuing its positive work to support local employment, by underpinning over 2,060 new jobs in the Midlands and South East.
This includes supporting hundreds of jobs thanks to its plans to build more than 1,000 properties across the region including sites in Northamptonshire at Barton Seagrave, Duston and Wellingborough.
As the housebuilder typically sources local contractors and subcontractors, a total of 2,060 new jobs have been created across all the company’s developments.
John Dillon, Managing Director at Barratt and David Wilson Homes South Midlands, said: “As the leading housebuilder, we have an obligation to provide support and facilities for the local community. This can take the form of open spaces for wildlife, playgrounds for children, beneficial amenities for residents or charitable donations for the wider community.
“However, the sheer amount of jobs that are underpinned from the very early stages of development right up until our sales staff leave the site, provides a crucial boost to the local economy. We hope that our continued plans to develop the region should support employment through what has been a difficult time for Britain, and well into the future.”
For more information on Barratt and David Wilson Homes, please visit www.barratthomes.co.uk or www. dwh.co.uk. For sales enquiries or to book an appointment please call 033 3355 8486 or 033 3355 8510.
Investors eye up development land across growing town
Potter Learoyd Commercial, the only firm of commercial agents based in Corby, take a brief look at the current state of the market.
Has Covid affected the commercial property market in Corby?
Surprisingly, the last year has been busy with plenty of highprofile lettings and sales despite the nationwide slowdown. Of course, the footfall for shops, offices and leisure has reduced but Corby has around 25 per cent of its workforce in manufacturing which has not been badly affected; there is an increasing number of jobs in storage and distribution across the town and this sector has been booming during Covid.
Richard Potter (left) and fellow Director Marcus Learoyd of Potter Learoyd Commercial
been at the vanguard over the years and were responsible for developing Tesco, the Savoy cinema and restaurant complex and the 500,000 sq. ft. Crackerjack unit near Rockingham Speedway.
They have also built out phase one of Midlands Logistics Park attracting huge occupiers including Eddie Stobart and Bosch Siemens. They are hoping to develop a further 4 million sq ft opposite the Holiday Inn over the next few years.
In the last few years, we have seen a number of other developers building in Corby including Urban and Civic Plc, Warmflame Ltd and Clowes Developments who have built phase two of the trade counter scheme at Alpha Court and recently Barnack Developments Ltd who are constructing some much needed small units on Cockerell Road.
Are some of Corby’s older buildings being redeveloped?
We have noticed over the last two years a number of developers and investors moving from the residential to commercial sector; returns are higher and ongoing property management is easier. They tend to target the older building such as the former Go-Kart track which was bought by Team Gill Ltd who cleared the unit before splitting it into six units of 5000 sq. ft. each. This project is near completion and there is already plenty of demand from occupiers looking to rent or buy and from property investors looking to buy property in a growth town.
Where do you see the market going in 2021?
There is no doubt demand for warehouse space is at an all time high in Corby and we believe this will continue. There remains a lack of ‘starter units’ in the town and we risk losing small and medium sized businesses to Kettering, Market Harborough or other towns.
There is an abundance of development land coming on stream in the next 12 months which will satisfy demand for large units over 100,000 sq. ft. We believe the small office market in Corby will remain steady and although retailing is suffering across the country, Corby’s town centre is doing better than other similar sized town in the region with far lower vacancy rates.
For further information on the supply of and demand for commercial property and land in Corby contact; Potter Learoyd Commercial 01536 560400.
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Property Portfolio
Cash buyers build demand for commercial properties
Leaving aside uncertainties within the general UK economy, the busy start to the year continues with strong demand in most sectors – especially freeholds.
Agood example of the current market was the disposal of an industrial unit at 3 Ross Road Business Centre. Sales have also been made at the other end of the size scale with Units 2 and 4 Kemp House totalling 3,000 sq. ft. sold to local owner occupiers to be used as garage premises and Unit 16 being 1,500 sq. ft. also going to owner occupiers.
The property, comprising around 4,600 sq. ft. was placed on the market at ‘offers
The former Barclays Bank comprises a ground floor of approximately 1,450 sq. ft. with first floor accommodation of approximately 580 sq. ft.
There is a sizeable car park to the rear of the property over £425,000’ and was sold within days. Demand for small industrial units is very strong – both for owner occupiers and investors. We have a number of clients seeking either vacant or well let industrial buildings within a 20-mile radius of Northampton – any lot size considered but preferably in the range £200,000 to £1M. All of our clients are cash buyers and are able to move quickly. We’ve recently been instructed by one of our clients to advise in respect of the sale of the former Barclays Bank at 67-69a Weedon Road. The property is currently let to the bank (with the exception of a first floor flat let on a long lease) and they have exercised their
Oriel House in Northampton would make an ideal candidate for serviced offices or alternatively for a residential conversion
option to determine their lease (passing rent £20,000 pax). Our clients would consider a new letting at the existing rental or may consider a sale – we are quoting £275,000. The property comprises a ground floor of approximately 1,450 sq. ft. with first floor accommodation of approximately 580 sq. ft. There is also a sizeable car park to the rear. The building is opposite Northampton Saints ground and would be ideal for a fast food operator, with living accommodation above - subject to planning.
We are also instructed in respect of a major office building at Oriel House, 5557 Sheep Street Northampton. Comprising approximately 10,042 sq. ft. with 14 on-site car spaces, the property which is Grade II listed would make an ideal candidate for serviced offices or alternatively for a residential conversion.
Our clients have recently submitted a planning application for change of use from offices to 14 flats. The property is available for sale for £1.3M.
So, at present, no real evidence that Covid-19 is having an adverse effect on the market but with rising unemployment and general uncertainty in the economy, perhaps it’s too early to call. Time will tell.
For specialist advice on all aspects of commercial property contact Ben Coleman Associates. Telephone 01604 660014 or email: ben@ bencolemanassociates.co.uk
Leading housebuilder’s pivotal role in region’s economy
A new report highlights how Northampton-based housebuilder Barratt and David Wilson Homes Northampton have made an impact on the region’s growth.
The report undertaken behalf of Barratt and David Wilson Homes Northampton shows 570 homes built in the region during the past year and contributed over £102m to the UK’s economic output.
The achievements are highlighted in a new report which measures the housebuilder’s social and economic contribution to the Northampton region over the past financial year (31st June 2019 – 30th June 2020).
The developer covers Northamptonshire, Cambridgeshire, Buckinghamshire and Bedfordshire.
Included within the company’s socio-economic footprint are key figures relating to the company’s support for the housebuilding supply chain, local communities, environment, public services and employment. The figures show that the housebuilder: • Supported over 1,590 jobs
directly and through its contractors and suppliers; • Directly employed 25 new graduates, trainees and apprentices; • Supported 250 subcontractor companies and 310 supplier companies; • Created 10.2 hectares of green space in the area for residents and the public to use; • Contributed £16.8 million locally including its
Community Infrastructure
Levy and S106 contributions; • Spent £19 million on physical works benefitting local communities including highway and environmental improvements and community facilities.
Andrew Swindell, Regional Managing Director at Barratt and David Wilson Homes Northampton, said: “As a five star housebuilder, we are very aware of the pivotal role we play in helping to boost the local economy.
“We are committed to a strategy that includes leaving a positive legacy in the communities in which we build homes, be that through job creation, bolstering surrounding businesses or enhancing and protecting the local environment.
“We are proud to be a major force in the growth and prosperity of our region and look forward to continuing our work in 2021.”
The report on Barratt and David Wilson Homes’ SocioEconomic Footprint in 2020 was carried out by Lichfields planning and development consultancy.
To find out more information, call the Barratt Homes sales team on 033 3355 8481 or the David Wilson Homes sales team on 033 3355 8482. Alternatively, you can visit www.barratthomes.co.uk or www.dwh.co.uk
Restoration work on historic town bridge
Specialist restoration to a historic bridge, which is a key access to the market town of Thrapston, is expected to last around five months.
Contractors working on behalf of Northamptonshire Highways will carry out structural repairs and arch strengthening to Nine Arches Bridge over the River Nene on Bridge Street and Kettering Road. Once the strengthening scheme has been completed, the road over the bridge will be resurfaced.
The first stage of the works will take place under the main navigation arch. This will require a six-week road closure while this arch is in a temporary state. The navigation channel beneath the bridge will also be temporarily closed to allow the specialist structures team to complete their work safely. The work float (pontoon) will be removed at the end of the day and moored overnight at the adjacent mooring.
Pedestrians and cyclists will be able to cross the river using the separate footbridge, as works will not affect this.
Nine Arches Bridge is a historic structure and is frequently inspected. Recent inspections have shown a weakness in the arches meaning works are required to enable the structure to carry all vehicles.
Northamptonshire Highways has been monitoring the bridge and working with the Environment Agency, and East Northants Council to agree a programme of works and secure the required permits and consents to work on this historic structure.
Cllr Jason Smithers, Portfolio Holder for Highways at Northamptonshire County Council, said: “We are aware that Thrapston Bridge is a key access point to the town and the range of businesses and services on offer. It is also a valuable heritage asset, which we are seeking to preserve.
“We have sought to keep this closure as short as possible to reduce inconvenience to residents and visitors to Thrapston. We are using specialist contractors and working closely with heritage officers at East Northants District Council to ensure we protect and preserve the historic importance of this beautiful medieval bridge.
“The majority of the work will be carried out from below the bridge, therefore we are working closely with the Environment Agency to ensure we complete the work before the boating season officially starts on 1st April.”
Keep up to date with all roadworks and closures in their area by visiting one.network or by following Northamptonshire Highways on Twitter @nnhighways
