ONE of Northampton’s liveliest retail and restaurant areas is showing clear signs that confidence is returning to the town and business is booming again.
Having been empty for some time, the restaurant premises at 156 Wellingborough Road opened again a few months ago as Ginza, a Japanese restaurant.
ONE of Northampton’s liveliest retail and restaurant areas is showing clear signs that confidence is returning to the town and business is booming again.
Having been empty for some time, the restaurant premises at 156 Wellingborough Road opened again a few months ago as Ginza, a Japanese restaurant. Now, thanks in no small part to the arrival of a new tenant, which offers a return of around £45,000 per annum, we have been able to secure the sale of the premises to an investor for close the asking price of £500,000.
Situated in an area of Northampton known for its restaurants and bars, and with a new steakhouse opening just a few doors away, the premises proved an attractive investment proposition, and we think this shows that buoyancy is returning to the local property market.
In the same area, we have let another property, at 227 Wellingborough Road, to Northampton’s first craft beer shop. Making the most of the growing popularity of craft beers, a local entrepreneur is opening the store, which is housed in a building acquired recently by one of our investment clients.
Elsewhere in Northampton, we have seen the last available unit in the St Peter’s Walk development let to a shoe retailer, Lace Up, which will stock a wide range of branded sports and designer shoes.
The unit has been let on a new lease at the asking rent and this letting leaves us with a waiting list of those looking for similar retail properties within the development and we are currently actively seeking retail premises of around 3,000 to 5,000 square feet for a client looking to move into the town centre.
On the Brackmills Industrial Estate, we have recently agreed terms on behalf of new tenant James and James Fulfilment, to let part of a building to a local haulage firm.
James and James Fulfilment recently moved into The Power House on Buryport Road to facilitate the growth of its e-commerce and online shopping business. Having secured the 121,000 square feet of space, the company decided that within its current growth forecast, it wouldn’t need all of that space immediately, and so a deal was done with a local haulage firm that was looking for temporary extra storage space within the area – a perfect example of what can be achieved with a bit of flexible thinking and forward planning.
Hadland Chartered Surveyors can be contacted on 01604 639657 or via the website www.hadlands.co.uk