Tom Mason: Demand outstrips supply with desirable properties moving fast
Posted on 10 November 2015.
I wrote an article a couple of months ago for our website talking about a sense of optimism returning to the property market in Northampton and the surrounding areas. I’m pleased to say that that has continued, with demand outpacing supply across the board.
At the end of the summer, we were instructed by the NHS to dispose of Harborough Lodge, the former renal unit on the Harborough Road to the north of the town. Located in a mixed business and residential area, the 4,415 sq ft building went to final offers last week after considerable interest.
Earlier this year my colleague Steve Smith completed a major back to back Pre-Let and Pre-Sale transaction for Broadley Properties Ltd at Gladstone Road, Northampton. The construction work on this multi-million pound development is now complete with Tennant UK in occupation.
The agency team’s excellent letting advice has led to many of our properties moving very rapidly. Unit 3 at Kingsfield Business Park in Northampton has been let to PumpGyms and the unit, following the grant of planning consent, will become a 24/7 gym. Studio 3 at the Diamonds Business Centre in Irthlingborough has been let to a specialist sports injury physiotherapy practice Physiofixx.
Both lettings are good examples of our agency team using their in-depth knowledge of local property hunters and moving quickly to secure good quality tenants for our clients.
Demand remains high for smaller business and retail units with new lettings to AB Cables Ltd, Precision Signs Ltd and Union Foods Ltd at Stafford Place in Moulton Park. The letting of Overstone Road to artisan bakery Good Loaf and the letting of Home Farm, the Grade II listed offices in Little Billing to a nursery operator, show that good properties in the right area are going very quickly.
So as we run rapidly towards 2016, the outlook remains positive. If you have a property that you wish to let, are looking for premises or indeed would like some advice regarding property investments as a whole, please give me a call on 01604 799010.