Take-up of brand new industrial units at one of Peterborough’s newest business park locations during the period of business lockdown has exceeded the expectations of agent Barker Storey Matthews (now part of Eddisons).
Over half of the units at Slater Court, Eagle Business Park on Broadway, Yaxley are nearing legal completion with an almost even split of letting and purchase tenures.
Slater Court is a development of ten industrial units of high specification ranging in size from 1,100 sq ft (102 sq m ) to 1,305 sq ft. Of the four remaining units, there is one unit of 1,600 sq ft (148 sq m) to let and three further units, ranging from 2,465 sq ft (230 sq ft), for sale or to let.
Slater Court is a companion development to the successful Heron Court and both are part of Eagle Business Park’s second phase of development.
By April this year (2020), all of the Heron Court units were sold with some units already occupied. Construction got underway at Slater Court in May, following an initial delay due to March’s wider business lockdown.
Demand for industrial units has underpinned commercial property market moves in recent years and Barker Storey Matthews advises it was always confident of Slater Court’s appeal to industrial occupiers.
However, the level of take-up achieved at Slater Court, to date, is far ahead of schedule and was not anticipated by the agent – particularly against the prevailing business climate since the spring.
Richard Jones of Barker Storey Matthews commented, “The speed with which parties interested in Slater Court moved to secure units is a testament to the quality of the offer of the development.
“Slater Court doesn’t have the imposing feel of the older industrial/trade counter estates. It has tree lined roads and there’s an absence of the expected ‘industrial-looking’, foreboding, palisade fencing.
“Slater Court’s success demonstrates the underlying strength of the warehouse market locally and the appetite for well located, modern stock which provides a pleasant place in which to work and a good setting from where companies can grow.
“Our view was always that the industrial/warehouse market would emerge from this year’s Covid-19 crisis ahead of other markets and Slater Court demonstrates this.
“Further estates, at Crusader Court and the Frankland Commerce Park – where units are for sale or to let and range from 1,050 sq ft to 12,709 sq ft – follow hot on the heels of both Heron and Slater Courts’ success.”