Commercial Property News
Local industry market runs at steady rate
Steady demand throughout this year has seen the local industrial property market experiencing unprecedented progress, says Ben Sole, industrial specialist at Cheffins Commercial. "We haven’t seen the seasonal swings of previous years. The take up of space
Steady demand throughout this year has seen the local industrial property market experiencing unprecedented progress, says Ben Sole, industrial specialist at Cheffins Commercial. “We haven’t seen the seasonal swings of previous years. The take up of space shows a fairly buoyant local economy with firms trading up or incomers expanding into the region. Most notable during 2007 has been an increase in demand for commercial land, with sites being sold and going under offer at record levels.
“Although we are currently dealing with nearly 500,000 sq ft of industrial and warehouse space located within 20 miles of Cambridge, we’ve required more good quality stock for most of the year to satisfy demand, ranging from small business units to larger production or distribution facilities. Our latest batch of instructions includes brand new units at Papworth to a second hand unit at Haverhill – with opportunities to rent or buy.”
The largest unit is Building C at Homefield Road Haverhill. This new production/warehouse facility totalling 22,220 sq ft is being re-marketed with new quoting terms, available freehold for £1.6 million or leasehold, at £5.75 per sq ft. The premises have been constructed in shell format and ready to now take an occupier’s fit out. The property is part of the Homefield Business Park which includes tenants such as Figleaves, Sigma and Printwise.
Nearby at the established Falconer Road Industrial Estate in Haverhill, Cheffins has a self-contained 13,743 sq ft modern steel portal frame business unit with substantial side loading and secure yard, front offices and staff facilities. It is for sale freehold at £600,000.
Closer to Cambridge, Cheffins has Unit 10D, The Grip Industrial Estate, Linton. This is a new 3,938 sq ft mid terrace business unit located just off the Linton bypass a1307 which is well fitted out and has front loading and car parking.
The Grip Industrial Estate fronts Hadstock Road, within a few hundred metres of the A1307 Linton bypass. The A11 is approximately three miles away.
The property comprises a modern mid terrace light industrial/business unit of steel portal frame construction. It has ground floor open plan accommodation, with a reception/counter fit out, and predominately open plan offices at first floor level with air conditioning, carpet and oil fired heating.
The property is available for a term to be agreed at a quoting rent of £20,000 per annum exclusive.
To the west of Cambridge are three brand new units of 1,355 sq ft each at Cambridge Westpoint, a new scheme within the Papworth Business Park. Ben Sole describes them as “ideal for starter companies or they could be combined to provide larger premises of 4,059 sq ft for an established business.”
Papworth has come into its own with the dualled A428 putting it within 15 minutes of Cambridge.
Each unit is offered at a rent of £9,050 per annum exclusive for a term to be agreed.