Gorell Barnes have recently been appointed Agents, commercial property advisors and Landlord and Tenant advisors to the Kettering Borough Council’s (KBC) industrial portfolio.
This has already resulted in a number of lettings and which has also improved the asset value and reversion value of these estates.
The Borough have the vision to provide various size units, but with a priority for the starter end of the industrial property market that is often overlooked by Developers for various reasons.
Kettering Borough Council therefore have both warehouse and workshop units available for the new start up, but which are also let on very Tenant friendly leases.
A good example of this is that Tenants starting a new business have full property flexibility so that they are not asked to be tied into long term leases which can become a financial burden, especially if the business does not progress as originally intended, or ultimately lacks financial viability. We therefore permit Tenants to have a rolling three monthly break clause in their lease so that they can vacate on giving three months’ notice. This is up until year 3 by which time the business is often fully viable and hopefully expanding.
KBC have units starting from 550 sq ft (51 sq m), increasing to over 3,000 sq ft (279 sq m) and these are situated in Kettering (Cunliffe Drive, very close to Asda and many of the leading out of town retailers and motor dealerships), Desborough and Geddington. The Council also have shops and offices that Gorell Barnes are also instructed on.
John Barnes of Gorell Barnes, commented “It is great that there are these facilities for new and expanding businesses that otherwise wouldn’t be provided for by the private market; partly because the cost of construction of small warehouses isn’t viable for the rental return, that would result, but mainly because such flexibility of tenure that KBC offers would not be fundable in the commercial investment market.” John continued, “Already in our short time of instruction, we have achieved record rents; and removed voids from the portfolio, but perhaps most satisfyingly, we have been able to help businesses get off the ground. Furthermore, we have witnessed existing businesses expand, both from a commercial floor footprint addition, but also with more staff and greater employment opportunities.”
Gorell Barnes don’t just deal in the smaller end of the market, but also have opportunities at the large end. Examples include a superb warehouse/factory in the immediate proximity to Asda and the only Retail Park in Corby, the largest and most prestigious offices in the region known as Haylock House, sitting on Junction 9 of the A14 at Kettering and also a large warehouse that is being refurbished on Denington Industrial Estate, Wellingborough, that will appeal to both freehold and leasehold interest, of which some can be quasi retail/trade counter occupiers.
Further information contact Gorell Barnes on 01536 330100 / firstname.lastname@example.org.