The commercial property market in Daventry remains as busy as ever, a fact underlined by the number of deals we have transacted in the town in recent weeks.
A brace of deals has completed in Faraday Close, acting on behalf of a private pension fund we have let a 6,000 sq ft warehouse/industrial unit to SPK Trading Limited in order to accommodate their expansion plans and they have entered into a new 5 year lease. Adjacent to this we have sold a freehold unit of 10,000 sq ft on behalf of a private investor. This unit was acquired by Brian James Trailers whose main HQ premises are just a few hundred yards away in Sopwith Way.
Both these deals, one leasehold and one freehold, came about as a result of the expansion of two local businesses, one being involved in manufacturing and the other principally internet sales. This is further testament to the diverse nature of the local economy in Daventry, which continues to prosper.
Elsewhere in the town, on Badby Park, Heartlands, we have let a 6,500 sq ft warehouse/industrial unit on behalf of Dee-Mark Limited. The premises were taken by Fidelity Supply Chain Solutions who entered into a new 10 year lease. Fidelity are a specialist logistics contractor to the automotive industry and they also have other business interests in the audio visual and hi-fi market. Fidelity were already based in Daventry and it is encouraging to see that they have decided to remain and expand in the town.
This year has seen a steady number of lettings of smaller starter units at Alvis Way and elsewhere in the town, and even more encouragingly, there is movement in the office market with two new lettings at Cottesbrooke Park. One lease has just completed and the other is still with solicitors – fingers crossed.
As with many other locations, Daventry is beginning to see a shortage of good quality accommodation and with no more speculative development likely in the immediate future, there is now the real possibility of growth in both freehold and leasehold values