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Industrial park investment

INVESTORS are being offered the opportunity to acquire eight small units in two key industrial parks in Northampton.

Four units in Upper Priory Street and a block of four units in Bunting Road have been brought to market by Hadland Chartered Surveyors.

Offers in excess of £800,000 are invited for the 999-year leasehold of the multi-let units that offer a present income of £72,750 per annum.

Given strong occupier demand for small industrial units, which total 9,840 square feet, the investment has potential revisionary yields of over 11 per cent, representing potential income growth to more than £90,000 per annum.

Each unit offers a minimum head room of 4.5 metres, a single roller shutter door and allocated parking spaces within a shared courtyard.

Also for sale through Hadlands is the former Bathstore.com outlet on St James Road, Northampton. The ground floor retail unit offers 2,363 square feet in a prominent corner position a short walk from the railway station and close to nearby occupiers Church’s Shoes, Farm Foods, Vets4Pets and Pizza Hut Delivery.

The property is available with vacant possession at an asking price of £310,000 exclusive.

Alternatively, the property can be offered on a leasehold basis at £28,000 per annum exclusive.

A unit at 47-49 St. Giles Street has been let to 7 Bone Burgers, a well-regarded burger chain initially set up in Southampton, who are undergoing an expansion throughout the Midlands. The new tenants have signed a long-term lease of 20 years, with Hadlands representing the landlords and Chown Commercial acting on behalf of the tenant.

7 Bone were attracted to the town due to the recent opening of the new university campus and St. Giles Street was of particular interest due to street being dominated by independent retailers, and the fact it was close to the Royal & Derngate and the Northampton Filmhouse – providing great potential for both daytime and evening trade. The restaurant is due to open early 2020.

Further town centre restaurant space at 19-21 Derngate is available to let jointly with Prop-Search. Situated opposite the Royal & Derngate theatre and the Northampton Filmhouse, the property offers 1959 square feet of trading space over ground and basement levels.

The location is a popular one with pre-theatre and cinema diners and is close to established retailers such as Bang & Olufsen, and is available on a new lease at an asking rent of £19,500 per annum exclusive.

A warehouse/light industrial unit at the rear of Montague Street in Kettering is new to the market. The 3,600 square foot unit, in close proximity to the town centre, is for sale at £225,000.

Also for sale is a high street retail unit in Sheaf Street in Daventry.

The property boasts original character features including an ornate Victorian shop front and offers 758 square feet plus a basement.

The property has planning consent for conversion of the upper floors to residential accommodation.

Offers for the unit, which is close to the Foundry Walk shopping arcade and Aldi, is on the market with full vacant possession at £120,000.

For more information about these and other properties from Hadland Chartered Surveyors, telephone 01604 639657 or visit the website at www.hadlands.co.uk

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