Rotherhill Developments is pleased to announce the completion of a new investment acquisition alongside a long-standing private office joint venture partner.
The newly acquired asset is an industrial unit in Northampton, currently occupied by Millbrook Healthcare Limited under a four-year lease, which is set to expire on 31st October 2026. The building extends to 13,767 sq. ft and is situated within a self-contained, fenced and gated site benefitting from a 30m depth service yard.
The property is located off North Portway Close within Round Spinney Industrial Estate. The estate is well-connected and is directly accessed off the A43, providing easy access to the M1 at Junction 15 via the A45 and Junction 9 of the A14. Located just 4 miles north of Northampton town centre, it also offers easy access to local amenities and services.
Ed Jeffrey, Director of Rotherhill Developments, says:
“We are pleased to have completed this acquisition, and our thanks go to Ross Cuthbert of Skylark Real Estate who acted on our behalf from an agency perspective. The property has a number of features that ensure it will remain attractive to alternative occupiers should the tenant choose to leave at lease expiry, particularly in a constrained market such as Northampton.
Supply of similarly sized existing properties, particularly where self-contained and with large service yards, is limited. This is a theme that is region-wide, and we think is unlikely to change in the medium term. Paired with restricted new supply as a result of development viability pressures, we are confident that both investor and tenant demand will remain strong.
The current passing rent is low by reference to comparable evidence, providing scope to secure an increased rent in line with the market at reversion, positioning this asset as a good addition to our expanding portfolio.”
Ross Cuthbert, Co-Founder of Skylark Real Estate, said:
"The property on Round Spinney Industrial Estate presented a strong case for investment, with embedded reversion to capture immediately at the upcoming lease events. The acquisition provides a compelling opportunity to add value through numerous active asset management initiatives and perfectly aligned with Rotherhill's strategy to acquire industrial assets with strong underlying fundamentals with significant reversion and below both vacant possession value and replacement cost."
Commenting on Rotherhill’s wider activity, Ed added:
“We remain acquisitive and are actively seeking small to mid-box industrial units ranging from 10,000 to 100,000 sq. ft of good specification, or in need of refurbishment, with or without income (single or multi-let). We look forward to further strategic acquisitions in the coming months.”
