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]
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.“
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]
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 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.”
Eddisons secures four new tenants at Eagle Business Park
Acting on behalf Barnack Estates UK Ltd, Eddisons has secured four new industrial lettings on Ravens Court, Eagle Business Park in Yaxley.
The warehouse units, each comprising 1,040 sq ft, have been let on 5-year lease at a rent of £10,950 pax.
The new tenants include JFO Communications Ltd, RJR Contracts, Halo Renewables, Provance Media.
Ravens Court is part of phase II of Eagle Business Park, a new industrial warehouse development on a fenced and gated estate, offering steel portal frame units with office space, fibre connection and onsite parking. Ravens Court forms a small estate on the business park, which completed in August 2022.
Provance Media Founder Stuart Dixon comments: “Fred Seaby and his team were excellent and ensured we completed in record time so we could begin the next exciting phase of our business.”
Eddisons Agent Richard Jones comments: “We are delighted to welcome four new occupiers to Eagle Business Park. The site is in the perfect location and offers local businesses high quality industrial space and employment opportunities.
With a number of other lettings in the pipeline, the park will be almost 90% occupied in the coming months.
For information on the remaining space at Eagle Business Park, contact Richard Jones on 01733 556497 or [email protected]
Final phase at Eagle Business Park, Yaxley is landing smoothly
The Final phase at Eagle Business Park in Yaxley is landing smoothly, confirms sole agent Eddisons.
Barnack Estates UK Ltd has now completed the construction of an 18 acre site at the second phase of Eagle Business Park. Since the launch of this phase at the end of 2017, Eagle has been a remarkably successful industrial scheme, due to the quality of the units and environment created.
Rob Facer, Chairman, Barnack Estates UK Ltd, commented, “We are delighted to help meet the employment and industrial growth in the area. We have developed nearly 250,000 sq ft of space constructed in 116 units in this phase which has led to hundreds of new jobs”
Eagle Business Park, which fronts on to Broadway, Yaxley was established in 2010 and the first phases were soon successfully developed by Barnack Estates UK Ltd to occupy its original 25.7 acre site. This second phase sees a further 18.38 acres of commercial development, a total of 44.08 acres by Barnack Estates UK Ltd.
Given its location – with good road access to Peterborough’s Parkway road system and the A1(M) Norman Cross junction, Eagle Business Park has always seen a good mix of trade counter, light industrial, showroom and food sector tenant occupiers and freehold owners.
16 companies that have moved to site since September include JFO Communications Ltd, RJR Contracts, Halo Renewables, Provance Media, Market Ready (Peterborough) Ltd, Vale Select Motors Ltd, Trailer Vision Ltd, Nene Valley Flooring Ltd, Cambridge Medical Ltd, Warehouse Collective Ltd, Suprima Service Ltd, Aligned Concept Engineering Ltd, Vault Tech Holdings Ltd, Pro-Bake Ltd T/A Combilift Ltd, Verde Group Ltd and CTE Services Ltd.
Richard Jones, Director at Eddisons, commented, “The remarkable take up on Eagle Business Park has been due to the quality of the units and environment created. Eagle Business Park has set standards for industrial development with treelined estate roads and a pleasant working environment being key, as well as a lack of modern industrial units being available in Peterborough and further afield. Relocations from Sudbury, Cambridge, St Ives, St Neots, London as well as Peterborough, has led to a good mix of occupiers from specialist bottling companies to 3D printers, electrical contractors, lash and brow training and other beauty treatments, as well as traditional printers and internet distributors, amongst others.’’
A few freehold and leasehold units remain available in unit sizes from 900 to 2,895 sq ft.
For more information about units at Eagle Business Park, Yaxley contact the sole agent, Richard Jones at Eddisons on 01733 897722 or visit https://www.eddisons.com/property-search.
Eddisons has sold the 32,000 sq ft Jubilee Mill office building near Little Germany in Bradford to independent freight forwarding firm Uniexpress.
Uniexpress, which is headquartered in the city and operates from nine locations across the UK, has relocated its head office from Bradford Business Park to the Jubilee Mill to accommodate the growth of the business, renaming the four-storey property Navigation Point. It now employs more than 70 people in Bradford.
Eddisons associate director Matt Jennings added: “We’re really pleased to have sold Jubilee Mill to Uniexpress. Not only is it great to be able to help a successful Bradford business achieve further growth, it is also really good news that this deal will ensure that jobs remain in the city centre.
“We received a great deal of interest from buyers who were keen to redevelop the site as residential accommodation but it is very positive for Bradford that this property will continue as a high quality, modern employment centre.”
Eddisons sold the open-plan Jubilee Mill office building on behalf of debt counselling charity Christians Against Poverty (CAP), which was founded in Bradford in 1996.
Increasing demand for the charity’s services which provide free debt advice for people with financial problems, fuelled by the cost of living crisis and rising energy prices, has necessitated a move to new premises for CAP.
Final unit remaining in brand new industrial unit development
Acting on behalf of the developer, Eddisons Huntingdon office has announced the first sale in the soon to be completed Meridian Court development in St Ives.
Unit 2, which is being purchased by a local company, is due to be finished in the next few weeks and is within a block of four units at Meridian Court which is one of the final sites within the established Compass Point development.
Units 1 and 3 within the development are also under offer and close to completion leaving just Unit 4 available which is 2,809 sq ft.
Richard Adam, Director at Eddisons who is handling the marketing of the site commented “We have had good interest for this development which is within an excellent location upon Compass Point, handy for nearby services and offering parties the opportunity to purchase their own building. We have also had interest from investor purchasers looking to buy and lease. There is a further phase of four units planned for next year but we advise interested parties to contact us regarding the remaining unit to secure prices at the current level.
For more information on Meridian Court, contact Richard Adam on 01480 415727 or [email protected].
Eddisons let 1.82 acre industrial site in Mildenhall
Eddisons Bury St Edmunds agency team has completed the letting of industrial premises of 20,809 sq ft set on a 1.82 acre industrial site in Mildenhall.
Acting on behalf of the landlord, Eddisons negotiated the letting of Plot 41, Hampstead Avenue with Activate Accident Repair Group Ltd who have committed to a long term lease.
The nationwide company, which carries out vehicle body repairs for the motability sector, have taken occupation of the industrial site comprising two detached buildings and a substantial concrete yard.
Simon Burton, Director of Agency at Eddisons, comments: “The market continues to be strong for large industrial units in Mildenhall. We are pleased to have completed this letting to Activate Accident Repair Group Ltd and introducing a new business to Mildenhall.”
As part of the deal, Eddisons’ Director of Building Surveying, Rory Addison Smith, dealt with the project management of the new roof, which was installed as part of negotiations and led to an enhanced rent being agreed upon.
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