THIS year has seen a buoyant commercial property market across the UK. Whilst activity has been lower than that of 2017, the strongest sector has been the industrial/warehouse market.
The distribution sector has been specifically active with investment transactions reflecting initial yields sub-4% in parts of the UK. Closer to home in Kettering, activity is evident with design and build opportunities available at Kettering Gateway, Junction 10 of the A14.
We have seen increased demand from owner occupiers, investors and tenants for good-quality office accommodation. Kettering offers a good labour supply, to be increased by the residential development activity in and around the town and excellent communications to the east, south and west. Major suburbs such as Northampton have seen growth in rental and capital prices, providing occupiers with reason to look at other well-connected areas as alternatives. We have experienced enquiries from occupiers located outside the area seeking to understand office availability in and around Kettering.
Kettering offers a new opportunity at Cransley Park, located at Junction 8 of the A14. Our client has acquired the front three parcels of land, fronting the A43, to provide a mixed office, roadside and leisure scheme. This site offers excellent profile to the A43 and excellent access to the A14 and A43. We are marketing various opportunities from pub/restaurant and other roadside uses, plus dedicated design and build office units from 5,000 square feet (464 square metres).
Situated at the opposite end of the site, opportunities are also available to light industrial and trade counter users with the development of a block of light industrial/warehouse units up to approximately 16,250 square feet (1,509 square metres). This development can be offered as a whole or in part with the ability to sub-divide into smaller units.
Construction is due to commence in Spring 2019 with completion the following Spring. We are able to offer both freehold and leasehold transactions on all the elements of the development.
Finally, we can confirm that completed leasehold transactions will be available to investors and interested parties should contact the sole agents, Berrys, details provided below.
If you are interested in the opportunities identified, contact Simon Parsons, BSc (Hons) MRICS on 01536 213169 or 07711 042330.