WITH the critical shortage of stock within the middle range of industrial and warehouse premises, it’s important to understand that commercial property firms and chartered surveyors offer more than sale and lettings services.
Acquisition on behalf of clients becomes a vitally important role when faced with a shortage of suitable premises. The current situation in Northamptonshire, where there has been a welcome surge in new, large premises either made available recently or that are in the development stage, doesn’t help those smaller to medium sized businesses that are looking within that all-important 1,000 to 50,000 square feet range that is simply not coming to market frequently enough.
Hadlands is currently seeking such a property for a light industrial and distribution client that is looking to bring together five different sites across Northampton and Wellingborough into a single site, preferably in the Northampton area.
Given the efficiencies this will deliver in terms of office and ancillary space needed, the new site will ideally be somewhere between 40,000 and 60,000 square feet.
The client is looking for a long-term rental agreement of at least 10 years for a Grade A modern unit with office space of around 5,000 square feet.
There’s certainly something to be gained from seeking expert input in sourcing properties to suit specific needs, to ensure all aspects of the current market are covered and taking advantage of an agent’s thorough local knowledge based on your exact requirements.
Sometimes merely sitting down and discussing those requirements can identify alternative approaches, for instance, modern buildings are often far more suited to using the height of the building for storage and racking, reducing the floor space required.
What remains frustrating, however, is the lack of new space being created to suit companies in this size bracket. There’s naturally lots of positives about large warehouses that attract national names to our business parks and industrial estates, but it would be nice to see developers put some thought into the needs of the smaller local companies that contribute so much to our economy but which sometimes end up struggling to find quality space because their needs simply aren’t being met.
A little bit of flexibility or creative thinking could open up opportunities within large development schemes to provide the space that is so badly needed alongside those massive new-build schemes.
To discuss potential acquisitions or available space, or to find out more about Hadland Chartered Surveyors, call 01604 639657 or visit the website www.hadlands.co.uk
