Excellent office space always at a premium
Posted on 18 May 2016.
With the recent letting of Studio 4 to a dental practice, the Diamonds Business Centre at Attlee Way in Irthlingborough is now fully let. The fully refurbished and attractive listed building offers a combination of offices and studio office suites to a variety of professional tenants.
Occupiers include the Northampton branch of the National Autistic Society, the UK’s leading charity for people with autism; and Monkey Puzzle Nursery, a local day nursery. Physiofixx, a physiotherapy firm run by the former lead physiotherapist for the Sky Professional Cycling team and former physiotherapist to the Great Britain Cycling team, has recently taken a new lease for Studio 3 (1,953 sq ft). The latest tenant is a dental practice which has recently signed a new lease to relocate from Irthlingborough High Street to Suite 4, taking on 1,672 sq ft.
With rents across the development now starting to approach £10 per square foot, our client is pleased not just with the uplift in rents but also with the quality of tenants that we have been able to attract.
Overall in the local area, demand for offices is beginning to exceed supply. This lack of stock continues to push rents up, a trend which is likely to continue for the foreseeable future. Attractive and well refurbished developments will always see high demand, particularly those such as the Diamonds Business Centre where professional tenants are attracted by the nicely landscaped surroundings and plentiful parking.
The area is seeing a boost with the Rushden Lakes retail and leisure development at the old Skew Bridge site now making serious progress. The £140m development across 30 acres has seen firm commitment from Marks & Spencer, House of Fraser and Primark and further plans are now underway to create a 12 screen cinema. This will all have a knock-on effect not just in the local area, but also in Northampton itself.
For more information, please contact Steve Smith FRICS on 01604 799010.