An industrial warehouse unit near St Neots, Cambridgeshire sold through property agency Barker Storey Matthews in July is now launched to let through its Huntingdon office.
Unit 2, Howard Road Industrial Estate in Eaton Socon, is a semi-detached factory-style unit with two floors of offices – giving 1,080 sq m (11,625 sq ft) in total.
It was marketed to let or for sale – with a guide price of £700,000 – by Barker Storey Matthews in the spring. The agent confirms that there was interest from both owner occupiers and investor purchasers.
After a short marketing period, the sale was agreed to an investor puchaser who is now implementing a programme of significant refurbishment of the property to upgrade and improve the warehouse area and the offices.
The new owner has now instructed Barker Storey Matthews to market the leasehold with a rent of £70,000 per annum.
Of the total space, the factory area is 720 sq m (7,749 sq ft) and the ground floor and first floor offices are 180 sq m (1,938 sq ft) each – giving total office space of 360 sq m (3,875 sq ft, approximately) across the two floors.
Unit 2 is in a prominent location on the Estate, with frontage to Howard Road. There is private parking on site to accommodate circa 30 vehicles and there is a separate personnel access to the offices. Access to the warehouse area is via roller shutter to the side of the building.
Howard Road Industrial Estate is a well-established trading location and a short distance from the A1 junction of the A428 road. Eaton Socon and the nearby market town of St Neots offer good north-south road communications via the A1 and the A14 is eight miles to the north of the town.
Barker Storey Matthews anticipates keen interest from occupiers now that Unit 2 has been launched to the market to let.
Stephen Power, Director, Barker Storey Matthews Huntingdon, explains, “The level of interest in the property we witnessed earlier in the year was not unexpected.
“There was – and remains – a strong demand for freehold industrial units in the St Neots/A1(M) corridor. We are aware of several companies seeking to either locate to, or expand in, the area and who require similar buildings to that of Unit 2 Howard Road Industrial Estate.
“Current low interest rates have seen a majority of interested parties seeking to purchase freeholds where feasible.
“However, there also remains strong demand for good quality, leasehold industrial units – particularly in the 2,000 to 10,000 sq ft size range, where there is a shortage of supply of suitable properties.
“We anticipate lively interest in the leasehold of Unit 2 once the refurbishment works have completed and urge the registering of interest with our Huntingdon office sooner rather than later.”