Following an unprecedented run of sales and lettings, Kettering Agents Barnes Noble Edwards urgently require new instructions to satisfy known property requirements. This need for new properties is brought about by a significant number of sales and lettings over the past nine months.
Barnes Noble Edwards, as one of the most active commercial property agents in Corby, have succeeded in letting and selling both industrial buildings and sites in the town of late. The deals completed include 6 Cooks Road on the Weldon North Estate, which has been let within three months of the vacation of the unit to Phoenix Foods Limited. Similarly, 30 Burkitt Road on the Earlstrees Industrial Estate comprising 11,088ft² is now under offer on a freehold sale. The former Weldon Plant building on Pywell Road has just been placed under offer to an owner/occupier.
The situation when it comes to development land is, similarly, positive. Solicitors have now been instructed on the freehold sale to an owner/occupier of Earlstrees Point, a 1.8 acre site off Rockingham Road on Willowbrook Industrial Estate. On the popular Willowbrook Industrial Estate, a site of 2.2 acres at Arkwright Road is also under offer.
Notwithstanding the uncertainty that exists in the wider economy of UK plc, the incontrovertible evidence is that there is some confidence in the manufacturing and distribution sectors generally and specifically in Corby, off the back of these deals. Barnes Noble Edwards continue to offer properties at Alpha Court where units from 4,000ft² to 20,000ft² are available, together with design and build opportunities on the adjacent site known as Centrix. Similar opportunities exist for design and build on the Genner Road site where units of up to 150,000ft² can be delivered. One of the company’s most recent instructions is in respect of the highly successful and popular Southern Gateway site at Oakley Hay where occupiers can buy their own development plot from £350,000 per acre or have a bespoke facility constructed for them on either a freehold or leasehold basis.
Much has been written recently about the reluctance of banks to lend to the commercial property sector given the banks’ own experiences with lending to developers. Despite this, Barnes Noble Edwards now have clients who are freely talking about speculative property development in Corby in order to satisfy some of the latent demand. This is, indeed, a dramatic turnaround given recent experiences. However, rental values will need to rise to make development viable.
Commercial property in Corby is starting to move; if you want confidential, no obligation advice on your property holding call either Andy Griffiths or Kevin O’Dell on 01536 517777.