Faced with a cooling economy and increased levels of availability, Prop-Search is encouraged by levels of take-up within an industrial scheme following its refurbishment.
Units within the 70,000 sq ft Baird Court development on Park Farm North in Wellingborough, have recently been subject to a £150,000 programme of works to include new office windows and doors, relining of roof gutters and extensive redecoration.
Chris Billson, a Director of Prop-Search acting on behalf of the landlord, Threadneedle Property Investments Limited, said: “As a result of this refurbishment, competition for tenants to sign new leases and renew existing leases has ‘hotted up’. This proves that by enhancing a building or estate, property owners can attract and retain worthy tenants – even in this market – while increasing the value of their holdings for the long term.”
Recent months has seen a new manufacturing tenant take occupation of a 3,000 sq ft unit, whilst a further 5,000 sq ft is now under offer for warehousing purposes – both to local expanding companies. Four existing tenants, Progress Motors, Insituform, Tordoff and GFM (UK) Limited have also renewed their leases.
Only two units within the development remain available to let, offering accommodation from 3,000 sq ft to 9,000 sq ft. New leases are available on competitive initial rents and terms.
