Jelmac Property Group announces that it has secured the first pre-let at Pytchley Business Park, its recently acquired scheme in Kettering.
A family-owned removal and storage company has agreed terms to take a new bespoke facility comprising 10,000 sq ft. Construction of the new facility has recently started on site, with completion in early 2016. A further six units will also be completed in early 2016 and the remaining six units by the end of 2016.
Pytchley Business Park is being constructed by Tungsten Properties and will comprise approximately 44,400 in 13 business units – offering between 2,200 sq ft and 10,000 sq ft. Letting agent Prop-Search is currently in discussions with a number of other parties looking to make an early commitment within the development.
Mark Spooner, a Director of Jelmac Property Group, said: “Following quickly on the heels of our successful purchase of this scheme from Tungsten Properties in the summer, the speed with which this pre-let has taken place is a clear testament to the strength of this market and attractive underlying fundamentals of the scheme. Located approximately a mile from Junction 9 from the A14, in a well-established business location, this asset provides opportunities for local and regional occupiers.”
Richard Baker, a Director at retained letting agent Prop-Search, added: “We are delighted to secure the first tenant on the scheme within such a short space of time and look forward to welcoming other new occupiers on the remainder of the scheme where we can accommodate requirements from 2,200 sq ft upwards.”
