A multi-million-pound sale of an industrial park in Wollaston has highlighted the strength of the county’s economy.
The industrial and warehouse development Wollaston Industrial Park, in Williams Way, has just been acquired for £7.24 million by industrial asset manager Chancerygate and JR Capital.
The new owners say the fully-let 14 unit site is a symbol of business growth in the area but also warn it flags up the lack of available space for other expanding companies.
Chancerygate head of asset management, Rory Finnan, said: “Established industrial areas in Northamptonshire have achieved significant rental growth in the last few years and Wollaston Industrial Park provides another option in the local market.
“The development is fully let highlighting the lack of supply in the area and demand for this type of product.
JR Capital head of investment, Michael Ferris, said: “Demand for industrial, warehousing and distribution assets across the UK is at a record high and Northamptonshire is no different.
“This is the only industrial estate in Wollaston and rents are at a significant discount to nearby towns, therefore providing strong potential for growth.”
The park, which is home to Aston Martin restorers Charles Briggs, drum maker O’Neill, the Salvation Army Trading Company and Airwave International, the holding company for footwear giant Dr Martens, was sold by Eskmuir Securities.
Eskmuir has invested £1.3 million in the site since it was purchased from Standard Life in 2015.