By Simon Toseland, a Director of Prop-Search:
Wellingborough over recent years has benefited from dominant warehouse and industrial markets, only curtailed by a lack of new development that has constrained supply says commercial property agent Prop-Search. This supply imbalance has been eased slightly with a couple of significant buildings becoming vacant, as well a new development coming to fruition.
A prestigious HQ manufacturing facility on Park Farm South will be ready for occupation later this year following an extensive refurbishment programme. The 91,000 sq ft property occupies a prominent self-contained site of 7.3 acres and was originally designed as a design and manufacturing facility with associated warehousing. The staggered configuration of the accommodation allows for the logical and convenient allocation of dedicated operational uses, as well as the site being able to accommodate significant expansion, providing for a total floor area of up to circa 140,000 sq ft.
Having secured a £1.26 million grant from South East Midlands Local Enterprise Partnership (SEMLEP), Northern Trust last year completed a £4.4 million project to speculatively develop 42,420 sq ft of industrial space within the Leyland Trading Estate. The 13 unit scheme provides units from 542 sq ft up to 8,928 sq ft and is already over 75% occupied. New tenants attracted to the development include Alexander Media & Production Services, Carp Superstore, Hartley & Noble, Northampton Budget Crockery Hire and NJT Transport Solutions.
Three units offering 2,771 sq ft to 6,696 sq ft remain available within the Estate; a popular location for a wide range of businesses, offering modern industrial/warehouse units, with generous parking and yard areas, and available on flexible lease packages. The Estate also benefits from manned guarding, with dog patrols out of normal working hours and CCTV coverage to the security office – offering an enhanced security provision.
Simon Toseland, a Director of Prop-Search, said: “Wellingborough is slowly starting to experience growth through the delivery of Stanton Cross to the east of the town (Wellingborough East), with building work on the initial phase of the some 3,650 new homes well underway. This is in addition to the employment opportunities in the form of new commercial buildings designed to make Stanton Cross a thriving commercial hub, providing flexible space for businesses ranging from international companies to local start-ups.”
The first phase of a 1.5 million sq ft development by St Modwen, through a collaboration agreement with Bovis Homes, is being promoted in the form of three warehouse facilities. These offer accommodation from 40,000 sq ft to 275,000 sq ft. It is understood that St Modwen will look at commencing speculative development of the scheme to achieve practical completion towards Spring/Summer next year.
A further new 80,000 sq ft scheme, which will also offer a business investment opportunity in Stanton Cross is now being promoted Apollo Technology Park will provide for 36 individual commercial units, ranging from 1,600 sq ft to 3,800 sq ft, with greater sizes available in combination and feature multi-use two storey accommodation.
The development will be built on the former Brookside Garage site on Finedon Road by Apollo Business Parks which has already developed two other such schemes in Buckingham and Banbury.
A planning application will be submitted shortly, with early expressions of interest being sought, both on a leasehold and freehold basis and the option to configured units to suit occupier requirements.
Infrastructure works are progressing well on Glenvale Park; Wellingborough’s urban extension to the north of the town, which is set to deliver some 3,000 new homes along with schools, a community centre, nursery and a business campus. The first phase of land sales are now complete; providing some 800 new homes for delivery in 2020 through to 2021. These will be complemented by a new local centre, which will include a family public house to be operated by Marston, a convenience food supermarket pre-let to the Co-op and a care home. A mix of other neighbourhood centre retail opportunities are now available in units from 1,000 sq ft to 5,000 sq ft.
To the south of the town, plans have recently been revealed for a new £33 million marina at The Embankment, which include waterside residential accommodation, shops, restaurants, bars and office accommodation, alongside 48 hour moorings for narrowboats and cruisers, a hotel and a river taxi service linking the town to nearby Rushden Lakes.
A feasibility study for this exciting scheme has been drawn up after Wellingborough Council awarded the Nene Valley Catchment Partnership a £15,000 grant last year to look at potential projects for the waterside area. The current plans identify projects to improve the commercial, recreational, aesthetic and environmental status of the area, and have been tabled following the formation of a working party, which includes the Wellingborough Chamber of Commerce, the River Nene Regional Park CIC, Nenescape, Nene Valley Catchment Partnership and a number of other groups and individuals passionate about the future of the River Nene and surrounding environment.
Simon Toseland adds: “The marina project is just one element of the overall vision that was borne out by the efforts of the Wellingborough Waterside Working Group. These also included other initiatives including improved access and amenity, improvements in ecological status and enhanced protection for the environment. “
The scheme is in the very early stages, with the next steps being further consultation with agencies such as Natural England, the Environment Agency and Highways before a planning application can be prepared and submitted.
