Focus on final units at second phase of Eagle Business Park

The spring months have seen the Peterborough agency of Eddisons focus on the final units available in the second development phase of Eagle Business Park, Yaxley.

Eddisons remains the sole agent under instruction on the remaining 7 units being offered to let or for freehold sale, and ranging in size from 900 sq ft to 10,081 sq ft.

This second phase of Eagle Business Park has seen 117 units built, adding 250,000 sq ft of industrial space to this now well established business location.

Both phases of the development have proved popular with a range of business occupiers. Some already based in the Peterborough area, others relocating from other parts of the region or further afield, and some brand new businesses too.

According to Eddisons’ Peterborough agents, it’s the quality of the new build units and the proximity to transport links, specifically Junction 17 of the A1(M) and the city’s own Parkway network of roads, that have been central to the popularity and success of Eagle Business Park.

For more information on the final units available at the second phase of Eagle Business Park, contact Gavin Hynes or Fred Seaby at Eddisons in Peterborough, 01733 897722, [email protected], [email protected] or through eddisons.com.

Latest deals done tell of Cambridge industrial demand in Q1

Two industrial units in Soham have new occupiers following deals completed in the spring by the Cambridge agency of Eddisons.

Both units are at Northfield Business Park, an established industrial business location north of the Cambridgeshire market town.

Unit 2, at 5,165ft² (480m²), was the larger of the units to let. Its new tenant is a national occupier who has taken a 20-year lease.

At 3,030ft² (281m²), Unit 3 has been let on a 5-year lease to a new occupier operating in the beauty & cosmetics sector.

Eddisons was the sole agent instructed by the landlord.

Demand is high in Cambridge

Ben Green of the Cambridge office recently remarked on the local industrial market following the release of the first RICS UK Commercial Property Market Survey for the year.

He said, “There has seen a pick-up in demand in Q1. Historically, there has been limited development of new industrial units in Cambridge and this – plus lack of available older stock – is putting upwards pressure on rents in the sector.

“In line with the general findings of the RICS survey, we anticipate industrial rents in the region will likely increase in the next 12 months.”

For more information on industrial units to let in the Cambridge area, contact Ben Green, at Eddisons Cambridge on 01223 467155 or at [email protected].

Cambridge director Ben Green responds on RICS survey comments

The RICS has just published its latest quarterly UK Commercial Property Market Survey (Q1 2023), titled, ‘Headline occupier demand metric stabilises as the weaker trend in investor activity eases’.

In responding to the survey, Ben Green, Director, Cambridge office, reported that his agency team’s experience of the local market so far this year is broadly in line with the trends in the RICS Q1 survey.

Office & laboratory

In Cambridge, secondary offices are seeing limited demand, especially older stock with poor energy ratings. In contrast, prime offices are performing reasonably well.

We are seeing several office buildings, particularly on the city’s surrounding business parks, being repurposed for laboratory use to meet the high demand and lack of supply in this sector locally.

Industrial & industrial rents

There has seen a pick-up in demand in Q1. Historically, there has been limited development of new industrial units in Cambridge and this – plus lack of available older stock – is putting upwards pressure on rents in the sector.

In line with the general findings of the RICS survey, we anticipate industrial rents in the region will likely increase in the next 12 months.

Retail & vacancy rates

Unlike the UK wide picture of falling retail demand, Cambridge has seen a rise in enquiries in Q1 compared with Q4 2022.

This is, in part, attributed to Cambridge’s attraction as a tourist destination and the rise in visitor numbers and footfall.

As such, retail vacancy rates have fallen marginally and rents appear to have stabilised.

To learn more about what the Cambridge office do for you, get in touch with Ben Green today on 07825 309599, or at [email protected].

Property agency acquisition advances Eddisons’ regional reach

L-R James Foster (Eddisons), Simon Bridge, James Butcher & Tim Bradford (formerly Banks Long & Co)

National property consultancy Eddisons has acquired Banks Long & Co in a deal which sees the Lincoln-based firm boost Eddisons’ presence in the East Midlands & the East of England.

Established in 1989, Banks Long & Co is a multi-disciplinary firm of consultants & surveyors whose property agency and professional services are highly regarded in its local and regional markets.

Banks Long & Co’s headcount of 38 will now integrate with Leeds-headquartered Eddisons’ existing network of 25 UK offices.

This latest acquisition sees Eddisons reinforce its existing operations in the East Midlands and the East of England where it already has offices in Peterborough, Kettering, Northampton, Huntingdon, Cambridge & Bury St Edmunds.

The addition of Banks Long & Co to Eddisons’ operation follows the national consultancy’s acquisition of East Midlands-based firm Budworth Hardcastle last year and its pre-pandemic purchase of the East of England property agency Barker Storey Matthews.

Eddisons now employs around 400 people and is one of the UK’s fastest growing property consultancies.

Commenting on the acquisition, Banks Long & Co Director Tim Bradford said, “Through our talented team of people, Banks Long & Co has developed a market leading reputation for delivering quality property advice.

“We are excited to be joining the Eddisons team as there is a natural overlap with the services we offer and an opportunity to work with like-minded individuals.

“This strengthens our proposition to clients and I look forward to developing the opportunities the deal presents.”

Announcing the acquisition, Anthony Spencer, Eddisons managing director, said, “Banks Long & Co has an excellent regional reputation and I am delighted to welcome their team to Eddisons.

“The acquisition complements our existing strengths in these regional areas and I look forward to working with Tim and the team to seek opportunities for further growth.”

To find out how our multi-disciplinary team can help you across the range of property services, get in touch.

Industrial interest has set sights on Vision Business Park, Biggleswade

Eddisons’ Huntingdon office is reporting that interest has been strong from industrial occupiers and investors in setting their sights on Vision Business Park, near Biggleswade in Bedfordshire, where 25 of 27 brand new units have been agreed off plan with another due to go under offer shortly.

Vision Business Park, Upper Caldecote, near Biggleswade is the third and newest phase of the Woodlands Estate development which is, itself, according to the agents, gaining profile with the area’s industrial owner occupiers & investors.

Set in three distinct courtyard schemes – in keeping with the style and setting of the wider development – the new-build units at Vision Business Park offer small to medium sized industrial accommodation from 1,410 sq ft (131 sq m) to 11,895 sq ft (1,105 sq m).

The lack of quality new-build industrial schemes in the area and its wider satellite region – as well as the development’s proximity to the A1 north and south and, via Bedford and Milton Keynes, to the M1 – have been key in attracting industrial occupier and investor interest in the earliest phases of the development, according to Eddisons – who is the sole agent.

Matthew Hunt, of the firm’s Huntingdon agency office, who is leading the agency at Vision Business Park on behalf of the developer Barnack Estates UK Ltd, believes that the remaining units will prove attractive for the same reasons.

The appeal of the industrial unit

He said, “For industrial occupiers, many of them involved in manufacturing or warehousing and storage, ease of access to the country’s road networks and key interchanges will always be a top priority.

“Interest and offers at Vision Business Park have come from a range of owner occupiers and investors to date.

“With the building phase now complete this spring, we expect to capture some interest in lettings now as we have now been instructed by a number of investor owners.”

Vanessa Pomeroy, Managing Director Designate, Barnack Estates UK Ltd, added, “We are delighted at the uptake of units for Vision Park.

“It’s great to see occupiers moving in and using our buildings to expand their businesses.

For more information about availability at Vision Business Park, Biggleswade, contact Matthew Hunt at Eddisons in Huntingdon, 01480 571578, [email protected].

Laboratory investment in Cambridge sold to private investor in £2.77m deal

Eddisons Garlic Row

Laboratory investment in Cambridge sold to private investor in £2.77m deal

Eddisons’ Cambridge agency team has sold a Cambridge office and laboratory building to a private investor for £2.77m.

The 11,75 sq ft high quality, recently refurbish Murdoch House building is located off Newmarket Road approximately 1 mile from the Cambridge City Centre.

The premises are currently fully occupied by science-based companies Qkine Ltd and Spotta Ltd.

Ben Green, Agency Director at Eddisons said: “We are delighted to have achieved this result for our client after a competitive bidding process. Laboratories are a sought after asset class and the acute imbalance of supply and demand in Cambridge makes it target location for investors”.

“With a lack of freehold investment opportunities it was little surprise that the property attracted good interest and achieved in access of the asking price.”

The sale price reflected a net initial yield of 5.6%.

For more information on commercial property investment opportunities in Cambridgeshire, contact Ben Green at the local office of Eddisons on 01223 448791 or [email protected].

Retail unit snapped up by investor in Stowmarket

50 Ipswich Street

Retail unit snapped up by investor in Stowmarket

Eddisons’ Bury St Edmunds agency team have confirmed the freehold sale of a retail unit in Stowmarket.

50 Ipswich Street was originally marketed for let, after being vacated by a dry cleaning business, as 695 sq ft ground floor retail unit with a glazed frontage and a loading area.

Following multiple leasehold bids on the ground floor for various uses, the property was sold to a private investor who intends to carry out a refurbishment with a view to let.

Commenting on the sale, Steven Mudd said,: ‘We are delighted to complete the sale of this prominent retail unit in Stowmarket town centre.

We were approached by a private investor in the local area negotiated a sale through us despite the property being offered to let.

“This was last available retail premises through Eddisons in Stowmarket and we are actively seeking good quality stock.“

Eddisons acted on behalf of the landlord/vendor.

Warehouse unit in Thetford let to local logistics company

5a Burrell Way Thetford

Warehouse unit in Thetford let to local logistics company

Eddisons confirms a warehouse unit in Thetford has been taken up by a local logistics company.

The 18,000 sq ft premises at Burrell Way Trade Park has been let to R&P Distribution on a new long term lease.

Occupying a prominent position at the entrance of the estate, the unit comprises a recently refurbished detached warehouse with office accommodation and a secure yard.

Burrell Way Trade Park is located southwest of Thetford town centre close to the A11. Other occupiers on the estate include Lidl, Howdens and Boots.

Eddisons Bury St Edmunds Agency team acted with joint agents Merrifields to let the unit on behalf of the landlord.

Eddisons agent Simon Burton, comments: “Despite the current economic climate, a new benchmark rent for Thetford was achieved, demonstrating the continued strong demand for industrial and warehouse units in the area.”

For more information on warehouse units in in Thetford, contact Simon Burton at Eddisons on 01287 715005 or [email protected].

Corby warehouse sold in Sale-and-Leaseback deal

Macadam Road

Corby warehouse sold in Sale-and-Leaseback deal

Eddisons’ Peterborough agency team has completed the sale of 5 Macadam Road, comprising a 96,000 sq ft industrial / warehouse unit in Corby.

Offers were invited for the freehold investment in the region of £7.25m.

The building has been purchased on a sale and leaseback from the owner occupier, by a business investor seeking to diversify their income.

The vendor, a leading furniture wholesaler, has signed a new 10-year lease at £540,000 per annum.

Located on Earlstrees Industrial Estate, an established employment district in the heart of Corby, the premises comprises a high bay warehouse, two showrooms, recently refurbished office accommodation and loading areas.

Eddisons Agent Simon Parsons commented: “This warehouse unit offered an excellent opportunity for potential investors looking to invest into both a strong commercial property market and a well-established business.

Eddisons provided investment advice and whilst the market was slowing, secured good interest, which resulted in the sale of the property.”

Eddisons acted on behalf of the owner occupier.

Eddisons let industrial unit to drilling equipment specialists

Eddisons Brunel Way

Eddisons let industrial unit to drilling equipment specialists

Eddisons’ Bury St Edmunds agency team has let an industrial/trade counter unit at Brunel Business Court to drilling equipment specialists Llamada UK Ltd.

The company, which is part of CM Llamada in Spain, has signed a new 10-year lease on Unit 3 – a two storey unit of steel portal frame construction with office accommodation and kitchen facilities.

Brunel Business Court is located on Brunel Way in Thetford and offers excellent access to the A11. Neighbouring occupiers include Knowhow, Star Transport, Caligraving Limited.
Eddisons surveyor Steven Mudd said: “We are delighted to have let another unit on one of the town’s main industrial and warehouse locations.

Unit 9 Brunel Business Court, a modern commercial unit with first floor office accommodation, has recently become available to let due to another tenant consolidating their business down south.

“Interested parties should contact Steven Mudd at [email protected] or 01284 715 003.”