Tungsten Properties has seized an opportunity to acquire a 2.5 acre freehold site, fronting the A14 in Kettering, to speculatively deliver a new small unit scheme.
In keeping with its reputation of a being a dynamic property development and construction company, Tungsten Properties has timed its acquisition to take advantage of the improving commercial property market. The scheme, known as Pytchley Park, will deliver approximately 44,400 sq ft in 13 business units – offering between 2,220 sq ft and 10,000 sq ft.
Richard Baker, a Director of Prop-Search which acted on behalf of Tungsten Properties in the acquisition, said: “This is notably the town’s first speculative scheme of its kind for more than five years and is exactly what the market has been calling for. During the last 12 months in particular, existing stock has depleted to a critical level and we are confident that this scheme will appeal to a wide range of occupiers.”
Jeff Penman, Managing Director of Tungsten Properties added “We have for some time been thinking of commencing speculative development, on the back of what we perceive to be an optimism within the area. This site is perfect with its established location on Orion Way, which fronts the A14. We are looking forward to construction commencing on-site within the next few months and attracting early interest from local companies.”
Commercial property agent Prop-Search has been retained as sole agents by Tungsten to market the available units, which are predicted to attract early interest, with pre-sale and lets predicted. The site was acquired from Mulberry Developments.