WHILE High Street activity over the last several years has been more focused on those retailers that can no longer sustain their retailing operations, there are pockets of growth and inward investment.
Much of this activity is to support growing towns and suburbs where significant residential development is being provided. Towcester is such a town, the location and excellent communications coupled with its demographics provide opportunities for retailers, leisure and restaurant operators to benefit from the investment being placed in the town.
Recently, we have experienced the letting of the former HSBC bank, situated on the High Street to Specsavers. The retailer has, like with many other market towns, recognised the opportunity and invested in the town as part of its growth strategy.
On Old Tiffield Road, land adjacent to Tesco, development proposals have been granted consent for the development of a mixed retail scheme providing opportunities, combining five A1 retail units and three A3/A5 fast food or take-away opportunities.
Berrys have sold a modern, high-quality office unit, further along Old Tiffield Road to an owner-occupier. The marketing exercise showed considerable interest from investors and owner-occupiers for this type of product.
“We have experienced similar demand for similar product across the region,” said Simon Parsons, Head of Commercial Agency at Berrys. “We are working with landowners and developers to assess further opportunities for developing modern, high quality office units and of course, industrial, which continues to be limited in supply.”
Towcester will most likely be one of the towns, which will benefit along with its neighbours to the south, from the growth in the Oxford to Cambridge corridor. We expect continued investment into the town over the forthcoming years.
If you are a land or property owner, do get in touch with Berrys to discuss any opportunities with you in confidence. Contact Simon Parsons, BSc (Hons) MRICS on 01327 227248.
