ALL’S WELL IN WELLINGBOROUGH : COMMERCIAL PROPERTY

Property is a fundamental of our society and we seem obsessed with its performance: every month the media gives coverage to the relative performance of the Halifax and Nationwide house price indices.  Unfortunately, there is not the same degree of interest in the relative performance of commercial property, however, this latter asset class is showing significant improvements in take up.  Whilst this has yet to impact on increased property values, it will only be a matter of time before two or more applicants start to chase the same property driving values higher.  This is no more the case than in Wellingborough where business confidence in the industrial sector appears to be returning.

This is exemplified at Yeldon Court where Barnes Noble Edwards have successfully placed under offer Unit 1 to a local company.  Interest in the remaining units continues to be high, in part, due to initial rentals of £2.00/ft² where units of 2,500ft², 5,000ft² and 7,500ft² are available.  The position is similar at Bradfield Road where Pall Mall Investments have three units varying between 4,770ft² and 17,522ft² or where all three units can be combined to provide in excess of 31,000ft².  Again, initial rents are £2.00/ft² and this offer seems to be attracting real interest in the properties.

One of the characteristics of the commercial property market is that immediately post recession, it is always those properties that provide the best value for money that let or sell first.  This is true in respect of 14-16 Bradfield Close, which comprises in excess of 21,000ft² of manufacturing and distribution with offices that Barnes Noble Edwards are looking to sell on a freehold basis.  With a quoting price of £775,000 it will not be too long before this property is placed under offer.

In terms of the Wellingborough market there is a shortage of industrial units in the 40-60,000ft² size range, however, one building at Apex Point on the Finedon Road Industrial Estate is also attracting significant interest.  The building has been the subject of a comprehensive refurbishment and now provides 53,000ft² of high quality warehouse/production space including 6,000ft² of offices.  The building is available on either a freehold or leasehold basis with rents from £1.00/ft² and a purchase price being quoted of £2.75m.  This building has also attracted considerable interest in the last two months.

The properties featured here are just a small snapshot of those that are currently being offered by Barnes Noble Edwards.  For further information regarding these properties or, indeed, any others please contact Andy Griffiths or Kevin O’Dell on 01536 517777.

ANDY GRIFFITHS
10/11/10