Commercial developer, Brackley Property Developments (BPD) has secured funding for the construction of a new industrial/warehouse building on a two-acre development site in Northamptonshire.
The commercial developer has entered into a full forward funding agreement with specialist property investment firm, Leftfield for the speculative development of the new unit at Cockerell Road in Corby.
Work has commenced on the development, which gained planning consent from North Northamptonshire Council towards the end of last year.
The new 43,000 sq ft unit will contain two dock loading doors, two level access sectional overhead doors and ancillary office space, as well as staff and visitor parking. It is programmed for completion in Q3 2023.
Stephen Pedrick-Moyle, managing director of BPD, said: “This is an exciting mid-box development opportunity in a prominent, well located site. The new unit will offer occupiers the chance to secure high quality industrial/warehouse accommodation north of Corby town centre and within close proximity of a large local labour supply.
“We are very pleased to further our relationship with Leftfield, following our development of 110,000 sq ft of new industrial accommodation at Leftfield Park in Walsall.”
Nico Fourie, chief executive of Leftfield Advisors, said: “Leftfield Fund III continues to accumulate strategic assets in key locations. Our conviction to the sector requires quality buildings, which attract strong covenants. We are delighted to work closely again with BPD on this new project.”
Cockerell Road is an established commercial location, with occupiers including Wickes and Andrews Building Supplies. The nearby A6003 provides direct access to junction 7 of the A14 dual carriageway and main arterial routes.
TDB Real Estate acted on behalf of BPD and Bampton Satchwell Bull (BSB) acted on behalf of Leftfield. Prop-Search advised the vendor during the original site acquisition process.
