Lambert Smith Hampton - Offices Letting - Northampton, More Lettings at Grange Park Court

Date: 03 Nov 2006

Acting on behalf of Barwood Developments Ltd, commercial property agent, Lambert Smith Hampton (LSH) has completed the letting of another unit on Grange Park Court in Northampton.

LSH negotiated a 12 year lease with InterTel Europe Ltd for GPC3 at Grange Park Court on Grange Park. A rental of £110,000 per annum was agreed for the 7,161 sq ft unit, with an option to determine the lease after seven years. Bidwells acted for InterTel.

The investment has subsequently been sold to in house clients of Bidwells.

Grange Park Court is situated less than half a mile from junction 15 of the M1 motorway and 2.5 miles from Northampton Town Centre. The site totals in excess of 4 acres with Phase one which completed in the autumn of 2005 comprising 18,000 sq ft in 3 buildings. Grange Park offers a range of amenities close to Grange Park Court which include a Budgens' supermarket, doctor's surgery, dentists, library, police station, a Holiday Inn and a new pub.

Previous lettings that LSH has completed include the disposal of GPC1 to Lambert Smith Hampton's building surveying office and GPC2 to BIS; both of whom took occupation of at the end of 2005 following completion of their fit out.

Construction of Phase two of Grange Park Court is set to commence shortly. The site comprises approximately 2.5 acres and will consist of three office buildings ranging from 7,000 sq ft to 10,000 sq ft providing a total of 27,000 sq ft with 93 car parking spaces.

Commenting Ian Leather of LSH explained, "The Northampton office market has witnessed healthy levels of activity over the last 12 months due to a lack of supply of good quality office space. I believe that the tenant and investor optimism will continue through the remainder of this year and into 2007."

"This confidence will in particular be spurred on by the county being named one of the four growth areas in the UK under the Milton Keynes and South Midlands (MKSM) strategy, as Northampton will witness a growth in population and housing which is likely to case a greater demand for office accommodation."

LSH is acting jointly with Burbage Realty on Barwood Developments behalf.

Grange Park Courth, Northampton.