The landscape around Corby has continued to change over the past year, says commercial property agent Prop-Search, with new development persisting as part of the town’s regeneration and with more construction planned in the coming year.
Today, Corby is one of the fast growing town’s in the country and work on regenerating the town is on-going with public and private sectors teaming up to deliver projects worth more than a quarter of a billion pounds. The Office of National Statistics shows the town in the 2011 Census as having 61,300 residents, although it an ambition to double this figure by 2030, with complimentary increases in jobs, prosperity and public services.
Despite the double-dip recession seen last year, Corby has continued to deliver business opportunities with a record number of new companies being formed and the successful progress of the purpose-built Enterprise Centre. Data shows that Corby has seen a significant surge in new company registrations during the past year and recent figures from the Enterprise Centre show that the facility and its tenants have generated a £2.5 million in turnover to Corby’s economy since opening its doors at the end of 2010. The Centre now employs over 160 people, of which over 100 have been new jobs for the Borough.
The town is another step closer to the world of Hollywood as Corby Borough Council and the Homes and Communities Agency have approved the agreement for the sale and development of land off George Street. The site comprises the former Willows Theatre and former Tresham Collage which has now been cleared ready for redevelopment. Through the collaboration, the HCA and Corby Borough Council are entering a development agreement with Mulberry Developments to deliver a six screen cinema, three restaurants, a public house and 227 parking spaces within Phase 1. The complex will also include over 100 one, two and three bedroom homes. It is anticipated that work could begin during 2013.
The beginning of 2013 has been marked with the opening of the new Tesco Extra store on St James Road. The store was constructed by Barr Construction on behalf of Mulberry Developments. The project consisted of the clearance of the brownfield site including demolitions, the construction to a shell specification of an 80,000 sq ft retail store with associated car parking, the preparation of a petrol filling station and upgrade to the surrounding road infrastructure. The Tesco store is one of the largest environmental format stores in the UK consisting of a timber frame, sustainable cladding, natural ventilations and lighting.
Tesco opened to the public at the end of January and is only one of 10 if its stores in the country to offer its customers a beauty salon – run by Regis – providing tanning, hair-styling, eyebrow threading and nail treatments. In addition, the store also has a clothing department, pharmacy, opticians and counters serving neat, fish, hot chickens, delicatessen, bakery and world foods to include Polish, Asian and Caribbean.
A new public house, developed by Greene King, has been constructed off Causeway Road on land near Aldi, creating around 50 jobs. The pub is part of the Hungry Horse chain and has been named The Chequered Flag after Rockingham Motor Speedway, Europe’s fastest racing circuit. Further employment opportunities have also been created as a new Jet garage with Londis supermarket has opened on the corner of the Southern Gateway Business Park. The station is being operated by Brobot Petroleum Ltd and was constructed to take advantage of the sites location where traffic flow in very strong.
Global leaders in energy efficient lighting innovations, Technical Consumer Products (TCP), has expanded its European business and has chosen Corby as the place to open its new European Headquarters, bringing more skills and jobs to the Borough. The company, which manufactures 1.5m energy saving compact fluorescent lamps every day, has established its HQ at Exchange Court, Cottingham Road. The new Headquarters will provide the vital link to their office in France and to the global market place.
The world’s market leader in household sponges and cleaning cloths, Multy UK Ltd has also completed the acquisition of a 55,000 sq ft facility on Brunel Road. And Creative Topps has taken occupation of a modern 45,000 sq ft unit on Causeway Road on a new lease agreement – this increases the company’s floor space in the town to around 140,000 sq ft.
Further improvements to Corby’s infrastructure are also underway. Northamptonshire County Council has awarded Interserve a £24 million contract to build the new A43 Corby Link Road. The scheme will improve transport links between Corby and the A14, support the growth of the town and relieve the A43 at Geddington of through-traffic. It will involve the construction of approximately 6.5km of dual-carriageway and three new bridges and is expected to open in early 2014.
Corby has some of the highest quality and most deliverable development sites in the region. With a commercial base in excess of £15 million sq ft, Prop-Search considers that the next few years will witness increasing occupier demand for good quality buildings through new development opportunities. The continuing infrastructure improvements will also focus regional and national occupier demand on the opportunities in the town.
