Northamptonshire has become so popular with warehouse developers and occupiers that land prices have been as high as £375,000 per acre according to Lambert Smith Hampton.
Within the industrial estates throughout the region there are high levels of occupancy and a shortage of supply, which are constraining the ability of existing companies and those looking to locate into the region to invest and expand.
Ian Harman of Lambert Smith Hampton said: “Such is the shortage of supply and the strength of demand that land inflation is being created and is anticipated to continue. The issue is not now attracting occupiers, but providing the supply for them.”
For some developers the only way round this is to refurbish existing properties. Wrenbridge has bought Meteor 90, from Eagle Global Logistics.
The building comprises an 88,500 sq ft high bay warehouse in Northampton on the Round Spinney Industrial Estate. It has an eaves height of 9.2m.
Wrenbridge is undertaking a refurbishment of the building, was due to complete at the end of 2006. The property is immediately available on a new lease at a quoting rent of £ 5.35 sq ft, or for sale freehold at a quoting price of £6.85m. King Sturge and Marriott Hardcastle are retained as marketing agents.