Midlands-based property developer and asset manager, Rotherhill, working with long-term funding partners, DCS 452 Limited and Nowell Spring Group Limited, has announced the acquisition of a detached 10,000 sq. ft premises on the popular Drayton Fields Industrial Estate in Daventry.
A prime employment area, Drayton Fields provides excellent access to the major road network and is situated approximately 1.5 miles north of the town centre. The building is located in a prominent position on the corner of Whittle Close and benefits from two ground level loading doors and its own yard which will be fenced and gated. The site offers a true HQ style opportunity for a business seeking high quality accommodation in Daventry.
Stuart Waite, Associate Director, comments:
We are pleased to have completed the acquisition of this property on what is a well-established industrial estate in a location with very limited supply within this particular size range. We will shortly be carrying out a comprehensive refurbishment of the premises to create a best in class facility with a view to securing a long-term tenant or sale of the freehold interest to an owner occupier. We are targeting completion of the refurbishment works by the end of July 2025”
Works will include a full strip out of the existing tenants fit out, installation of M&E lighting and a new electric heating system, full warranty backed re-coating of the roof and cladding system, re-lining of the gutters plus a full redecoration of the existing office, welfare and warehouse space. The works are expected improve the EPC rating to a B.
The property was acquired from a private pension fund, conditional upon surrender of their existing tenants’ leasehold interest.
Paul Bagshaw, Owner and Founder of Rotherhill Developments, says:
“This acquisition is exactly the type of opportunity we’re interested in and one where we can add value by investing in a refurbishment programme to modernise the premises” Paul adds: “We continue to target existing buildings with strong fundamentals, either with short income or vacant possession, where we can utilise our expertise in building refurbishment to create high quality product at a discount to new build.”
