Award Winning
commercial property solutions
East Northamptonshire is thriving says commercial property agent Prop-Search. After years of lying in the shadows of Kettering, Northampton and Wellingborough, the district is in pole position to reap the benefits of a forward looking Local Authority and build on the millions of pounds already invested in developments currently under way and those planned for the near future. This will continue to create the right environment for businesses to grow and flourish - from large multi-nationals to start-ups, strengthening the local economy and creating wealth.
Activity during the past couple of months has intensified at the new multi-million pound Rushden Lakes shopping and leisure development adjacent to the A45. Cranes, pile-drivers, diggers and earthmovers are in abundance as LXB Retail Properties delivers the first phase of retail units, comprising 380,000 sq ft - scheduled to open Summer 2017. Whilst last year pre-lets with House of Fraser, M&S, H&M, Primark and Costa where announced, the developer has now confirmed that Paperchase, River Island, New Look, Schuh, Moss Bros, Fat Face and Holland & Barret will also be taking space. And deals are in hand for some other big names - taking the scheme to around 90% occupation.
Simon Toseland, a Director of Prop-Search, said: “Earlier in the year, planning was submitted to East Northamptonshire Council for the development of a leisure phase of 185,000 sq ft to replace the previously consented garden centre. The leisure facilities consist of a 14 screen multiplex cinema, tenpin bowling alley, indoor climbing structure, a range of other indoor family entertainment/leisure uses, and no less than 14 restaurants with external seating areas. The restaurants will be located within the cinema complex and fronting the ‘boardwalk’ waterfront terrace.”
A further phase of just under 50,000 sq ft is also proposed to deliver an additional 35,000 sq ft of retailing, together with a visitor centre, boathouse and store, management centre and cycle-hire facility.
Opposite Rushden Lakes - working with Prop-Search - Ashfield Land has acquired a 28 acre site to develop a mixed-use scheme that will include retail, leisure and business facilities. The developer sees this acquisition as an opportunity to develop an exciting scheme in a location that has become a vibrant and exciting hub for the region.
Marketing of the scheme - known as Rushden Gateway - has begun with the potential of the site evidenced by the strength of deals already agreed and enquires being received.
It can be confirmed that the first phase of this new scheme will provide for nearly 40,000 sq ft of space for retail and leisure operators, and the intention is to progress both existing and new interest in the form of a masterplan that is acceptable to the local authority, leading to a planning application in the next couple of months. It is envisaged that the development will encourage retention and expansion of local businesses, as well as creating further employment opportunities.
Travelling further east on the A45 to Raunds, construction of a new 655,325 sq ft distribution facility within Phase 2 of Roxhill Development’s Warth Park scheme at Raunds is nearing completion. The warehouse will be occupied by Howden’s Joinery - the UK’s largest kitchen supplier - joining existing occupiers including DSV (411,330 sq ft), AirWair (129,000 sq ft) and GeoPost (41,971 sq ft).
Also within Phase 2, planning officers have in the last couple of months approved proposals for the development of two roadside plots to the front of the scheme. Acting for Roxhill Developments, a deal has been agreed for a 24-hour 13,500 sq ft Asda foodstore with a petrol filling station, jet wash, customer car parking, service yard and associated landscaping. This will be complimented by a 3,500 sq ft fast food takeway with restaurant for KFC (Kentucky Fried Chicken).
To the far east of the County, regional developer Hampton Brook’s 103,000 sq ft speculatively constructed distribution warehouse, overlooking the A14 at Thrapston, has been pre-let to Simplehuman. The company specialises in manufacturing innovative bath, kitchen and beauty products, and is expected to take occupation shortly initially creating some 30 new jobs.
Simon Toseland concluded: “Over the past three years, East Northants Council has approved numerous planning applications, all of which have lifted the district into a new era - logistics being the clear sectoral strength of the local economy - creating approaching 4,000 new employment opportunities with an estimated 500 more to follow. This is complimented by the 2,000 jobs within the retail, leisure and tourism sectors that will also be delivered through Rushden Lakes and those planned for Rushden Gateway.”
“The investment commitment already made and planned in East Northants, creates enviable foundations for the district. Crucially, the Local Authority is delivering on these planning permission; development is physically happening and this can only encourage further investment. East Northamptonshire is certainly ‘stealing the show’ at the moment.”