Drake Commercial acting on behalf of Industrial Property Investment Fund (IPIF) have completed the letting of 1 Sovereign Court, Round Spinney in Northampton to Avica UK Limited who are headquartered in Watford.
Joe Smith of Drake Commercial commented “Unit 1 provides a modern semi detached industrial unit of 18,170 sq ft which had been comprehensively refurbished by our client, IPIF. Avica are well established within Northampton and have been acquisitive in recent years. Sovereign Court provided them the opportunity to bring a number of operations together under one roof whilst enabling some future proofing for growth”.
In the wider market there is a real lack of good quality units within Northampton and recent research undertaken by Drake Commercial shows that there has been over 25% increase in completed deals in the first half of 2018 than the same period last year. Furthermore, for buildings sub 100,000 sq ft, Northampton is currently running a vacancy rate of 2.5% which illustrates the scarcity of stock.
Drake Commercial act alongside TDB Real Estate on the wider Sovereign Court and Spinney View estate and can report that Unit 4, the last vacant unit on Sovereign Court is now under offer.
We are currently marketing Unit 2 Spinney View, 7,754 sq ft, a detached modern industrial unit which is currently undergoing refurbishment and will be ready for occupation from September.
For further information on the unit at Spinney View, or to speak to one of our team about commercial property, please call 01604 620616.