Prime industrial estate undergoes significant refurbishment
Royal London Asset Management (RLAM) have recently purchased Brackmills Gateway, a 218,118 sq ft multi let industrial estate comprising 21 units with unit sizes ranging from 4,917-38,703 sq ft.
Following the purchase, RLAM in conjunction with the asset managers JLL have undertaken a comprehensive refurbishment programme of the vacant units to an exceptional standard. This along with proactive marketing by joint agents Drake Commercial and TDB Real Estate has resulted in an increase in rents on the estate within the past year of 55%.
Drake Commercial and TDB Real Estate have been retained as joint letting agents on the scheme and have already completed deals on refurbished units to Hermes Parcelnet and Thames Ambulance Service Ltd and are close to agreeing terms on further units.
Joe Smith of Drake Commercial said “ The Northampton industrial property market is currently experiencing a chronic lack of good quality product and RLAM’s comprehensive refurbishment of the vacant stock on the estate is sure to be well received by occupiers who have been starved of good quality units over the past few years. There has been an increase of 11% in take up of industrial stock in Northampton in the past year and well presented industrial units are in high demand in Northampton and the wider region.
Oliver Thompson of TDB Real Estate comments “ Brackmills Gateway is strategically located on the prime industrial estate in Northampton in close proximity to the M1 motorway. Occupiers will not only benefit from a quality product which has been comprehensively refurbished, but will also be able to enjoy a first class working environment with excellent amenities on the wider estate.”
Drake Commercial and TDB Real Estate have just commenced marketing Unit 1 Scotia Close, 19,288 sq ft on Brackmills Gateway which has been comprehensively refurbished internally and externally to include a new roof and remodelling of the existing office space. The refurbishment has been undertaken to a very high standard and we have already had a good level of interest.