INDUSTRIAL PROPERTIES – SELLING FAST

Commercial Agents, Barnes Noble Edwards have been involved in the freehold disposal of two major buildings in Northamptonshire in the last two months, proving that industrial properties are selling.

The first of these transactions was the disposal of a 24,000ft² industrial unit and offices sitting on a 2.3 acre site at Pywell Road, Corby. Acting on behalf of administrative receivers, Barnes Noble Edwards effected a sale of the building to local occupier CWG Choices Limited, who will use the property for the production of UPVC windows. Barnes Noble Edwards have also been retained to dispose of part of the property that is not required by the purchaser.

The second transaction comprises the acquisition of the Nene Park Complex adjacent to Rushden and Diamonds Football Club at Irthlingborough on behalf of investor and occupier Salonserve Limited. The acquisition of Nene Park, which comprises 145,270ft² of predominantly vacant industrial accommodation is the largest freehold industrial acquisition in North Northamptonshire in the last two years.

Andy Griffiths, Head of Agency at Barnes Noble Edwards commented “The disposal of these two buildings marks a turning point in the industrial property market in the region. The availability of finance and the returning confidence of purchasers is demonstrating that the owner/occupier market is now starting to move forward. I expect this will be a catalyst for yet further transactions”.

ANDY GRIFFITHS 20/05/11