A global manufacturer has secured more than 47,000 sq ft of premium industrial space in Northamptonshire as it expands and creates local jobs, national commercial property consultants Lambert Smith Hampton (LSH) announced today.
Krohne Limited – a manufacturer and supplier of solutions in industrial process instrumentation – has signed a 10-year lease for 47,229 sq ft of industrial space at 6-12 Davy Close, Park Farm Industrial Estate in Wellingborough. The company will pay rent of £188,916 per annum, equivalent to £4.00 per sq ft.
LSH’s Northampton office, acting jointly with Milton Keynes-based asset managers Dexter Brown, secured the letting just seven months after the unit went on to the market. The deal was completed in just four weeks from final agreement of terms.
Trevor Fawcett, Managing Director of Krohne Limited, said: “The new unit will accommodate the company’s strategic expansion plans in flow metering technology and, by necessity, will create a number of new jobs in the local area.”
The property comprises a modern detached industrial/warehouse building with two-storey office/ancillary accommodation. The unit, which benefits from a substantial self-contained secure yard area and car park, was refurbished to a high standard.
LSH project managed the refurbishment on behalf of owners Sanlan Life and Pensions (UK) Ltd. James Hill, Director in the Industrial Agency and Logistics team at LSH in Northampton, said this was an important factor in attracting the new tenants.
“In today’s market you have to ensure your property stands out in comparison to the properties it will be compared with. Although tenants will expect to carry out their own fit out, they don’t want premises that need extensive repairs from the outset,” he added.
Marcus Brown, of Dexter Brown, said: “We are very pleased with the time it has taken to achieve the disposal, the caliber of tenant, lease term and the rent achieved – all of which are a positive outcome for our client.”
Park Farm Industrial Estate is strategically located midway between London and Birmingham, adjacent to the A45 dual carriageway providing access to M1, junction 15 in Northampton just 10 miles away. Ring road access is provided from Park Farm via the A509 to the A14 at Kettering and Thrapston. Other occupiers include Cummins Diesel, TNT, Hewlett Packard, Musgrave, House of Fraser, NYK, Homebase, Lotus, and Ricoh.
LSH is a national commercial property consultancy that works with investors, developers and occupiers across the public and private sectors, and it is single-mindedly focused on UK and Irish property markets.
Krohne, which has its headquarters in Germany, is a world-leading manufacturer and supplier of solutions in industrial process instrumentation. It offers supporting products and services for one-stop-shopping in industries as widespread as oil and gas, water & wastewater, chemical and petrochemical, food and beverage, power, minerals and mining, and marine. Established in Germany in 1921, the company has steadily grown into a global enterprise employing more than 2,700 people across the world.
