Double letting at Lakes Business Park

Unit 5 and Unit 6 Oak Court

Double letting at Lakes Business Park

Eddisons has confirmed the successful letting of two brand new light industrial/warehouse units in St Ives.

Eddisons was the sole agent for Unit 5 and Unit 6 Oak Court – a new development situated close to the entrance of the Lakes Business Park.

Unit 5 Oak Court has been let to Envirotank Herts Ltd, a local water damage restoration service provider. The unit comprises 1,750 sq ft of high quality industrial and office accommodation along with allocated car parking.

Garry George, Operations Manager at Envirotank Herts Ltd, comments: “We are pleased to be located within this developing business park. This is a great move for us as the location provides easy access to major road links.

We have been in St Ives for over 5 years and hope we continue to grow our Fire and Water Damage restoration company within the local area.”

Unit 6 Oak Court has been let to a local firm and comprises of a 2,400 sq ft semi detached unit with offices.

The Lakes Business Park is a new development of office, R&D, light industrial and warehouse units in the market town of St.Ives, where current occupiers include Vindis Bentley, Cambridgeshire Police and Cambridgeshire Bathrooms. The site is situated adjacent to the former A14 and is just 13 miles from Cambridge and 5 miles from Huntingdon with good access to the A14, M11 and A1.

A further scheme of seven new units is planned for Autumn 2022 completion with the site.

For more information on warehouse opportunities in Huntingdon, contact Richard Adam at the Eddisons Huntingdon office on 01480 415727 or [email protected]

Warehouse unit leased on Stukeley Meadows Industrial Estate

Unit 12 Blackstone Road

Warehouse unit leased on Stukeley Meadows Industrial Estate

An industrial unit in Huntingdon has been let by Eddisons to a garden room and exhibition build business who has relocated from Foxton, South Cambridgeshire.

Eddisons acted as the sole agent for the landlord in the letting of Unit 12 Blackstone Road on Stukeley Meadows Industrial Estate – an established industrial district with good access to the nearby A14 and M11.

The mixed-use unit offers 13,105 sq ft (1,217 sq m) of warehouse space and office accommodation situated within its own fenced and gated site.

A new lease has been secured to AMC Exhibitions & Garden Rooms to support business growth and expansion plans.

Kate Martin, Director of AMC Exhibitions Ltd, comments: “We’re really excited to be moving to Huntingdon. The bigger warehouse and workshop space will help us better serve both sectors of our business – exhibition stand build and garden office construction.

“What’s more, Huntingdon is well placed to help us to not only recruit skilled people – carpenters, plasterers and other trades, but the excellent transport links will help us operate more productively.”

For more information on business/warehouse opportunities in Huntingdon, contact Richard Adam at the Eddisons Huntingdon office on 01480 415727 or Ri[email protected]

What are Reinstatement Cost Assessments and how are they conducted?

Reinstatement costs assessments

What are Reinstatement Cost Assessments and how are they conducted?

Regardless of whether you own a single property or a wide-ranging portfolio, ensuring you have the correct insurance cover for buildings and contents is essential. It is not simply a case of being insured; it often transpires that property and contents are either under-insured – leaving you highly exposed to potential costs in the event of a claim – or over-insured leading to unnecessarily high premium payments.

This is where reinstatement cost assessments (RCA) come in.

Reinstatement Cost Assessment (RCA) is the basis adopted by the Royal Institution of Chartered Surveyors (RICS) for undertaking an appraisal of property, and plant and machinery/contents for insurance purposes. The term reinstatement indicates to repair, reconstruct or renew assets to a condition equal to but not better than when new. This assessment is all-encompassing and can often include inspection and reporting on a wide range of properties of differing size, type and use incorporating complex structures and installations.

RICS recommends that full RCAs are carried out every three years although updated RCAs should be undertaken whenever there are significant changes to the buildings, or investment/downsizing in the plant and machinery/contents. T

In undertaking the reinstatement cost assessments of buildings and/or contents for insurance purposes, all buildings are visited for assessment by a qualified surveyor, and assessments undertaken on a building by building basis. Building schedules and schedules of main plant and machinery/contents, along with grouped figures for general contents, are undertaken on site. Office based investigations are undertaken with research through BCIS published data, machinery manufacturers and agents, internet research and internal databases. Reinstatement costs are calculated to rebuild the property, with costs of demolition, professional fees, any statutory authority fees and the relevance of current statute which could impact on the reinstatement cost assessment itself.

The assessments being undertaken on a building by building basis allow for broker analysis of the values at risk and estimated maximum losses, which should assist in their insurer negotiations.

Challenges can often arise in the area of specialist buildings. Surveyors will likely be accustomed in assessing traditional buildings such as factories, office blocks or educational establishments though an experience of valuing, assessing and appraising listed buildings or specialist structures will often be required. In respect of educational buildings – both private and public – this is an area in which we have particular widespread expertise; every year we undertake insurance valuations which often comprise class rooms, laboratories, conference space, lecture theatres and canteens. In some cases where a client may own unique buildings or structures, the surveyor may be reliant on co-operation from industry experts in deciding on rebuild costs for these type of structures; drawing on their relevant expertise and experience to advise.

It is critical that reinstatement cost assessments provide the full cost of demolition and rebuilding, together with any other allowances required by the lease terms, so the property owner or manager can arrange the appropriate level of insurance cover. Failure to do so could result in a claim for negligence.

In the event that the buildings or plant and machinery/contents are under-insured, the insurance provider may invoke the Condition of Average Clause where the total claim is reduced proportionally to the value of under-insurance. Clearly, this could have devastating effects, with the policy holder liable for the shortfall in the payout.

Should you require expert and independent advice on buildings and contents insurance including reinstatement cost assessments, contact our insurance team at Eddisons. We have undertaken RCA’s on wide and varied portfolios across a range of sectors covering private, public and education.

Eddisons also act for the majority of major banks in undertaking valuations for both lending and insurance purposes. We typically provide reinstatement values for hundreds of buildings/contents every year.

The assessments being undertaken on a building by building basis allow for broker analysis of the values at risk and estimated maximum losses, which should assist in their insurer negotiations.

Do you need a Reinstatement Cost Assessment?

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Written by: David Cran on Thursday 18/02/2016 updated 27th February 2020

Cambridge retail unit let to new Asian grocery store

235 Cherry Hinton Road

Cambridge retail unit let to new Asian grocery store

Eddisons acting as sole agents on behalf of the landlord have let 235-237 Cherry Hinton Road in Cambridge to a new Asian grocery store.

A new 20 year lease has been secured to Swaddesh Limited. The property offers 1,527 sq ft (141sq m) of space across ground and first floors and with good display frontage to Cherry Hinton Road. Externally, the property also benefits from a courtyard garden and rear loading access.

The property was previously occupied by beauty retailer and pharmacy chain, Boots.

The property is in a popular secondary retail location with nearby occupiers including Lloyds, Barclays, Ladbrokes plus a number of independent retailers. The location is 2 miles from the city centre miles with good access to Cambridge train station which is a 15 minute walk away.

For more information on retail opportunities in Cambridge, contact Laurence Gercke at the Eddisons office in the city, on 01223 467155 or [email protected].

 

Visual effects firm secure office unit in central Cambridge location

Bateman House

Visual effects firm secure office unit in central Cambridge location

Eddisons has advised Vine FX on the acquisition of offices located at Bateman House in Cambridge.

The new letting sees Vine FX, a local visual effects firm, take an office suite of 2,638 sq ft (245 sq m) on the part third floor at 82-88 Hills Road, Cambridge.

Bateman House provides high quality office space in central Cambridge and benefits from meeting and board rooms, kitchen facilities and break out areas. Externally, the property benefits from a gate controlled car park and covered cycle parking. Existing tenants include The University of Cambridge, Intrasonics, Gene Stack, Stone King.

Bateman House is situated close to the city centre and just a 5 minute walk from Cambridge railway station. In addition, Cambridge is well placed on the national road network with connections to the A14, A10 and M11 and M25.

Michael Illingworth, founder of Vine FX, said, “It’s an exciting time for us and we are looking forward to putting down more permanent roots in Cambridge as we continue to expand and grow.
Ben Green at Eddisons has been a great help and Savills reacted quickly to our needs throughout the process”.

Savills acted on behalf of the landlord.

For more information, contact Ben Green at Eddisons on 01223 448791 or [email protected], or William Clarke at Savills on 01223 347294 or [email protected]

 

Record take up of warehouses at Eagle Business Park

Eagle Business Park

Record take up of warehouses at Eagle

The final phase of development at Eagle Business Park continues to break records.

Planning consent was granted by Huntingdon District Council in the summer for four new estatesof Condor, Firecrest, Razorbill and Ravens Courts which comprise the final phase at Eagle Business Park and in total 37 units. Units ranging from 900 to 2,895 sq ft and all are available for sale or to let.

Developer Barnack Estates (UK) Ltd are due to commence construction on site at the end of September.

Richard Jones from sole agents Eddisons commenced marketing the estates in late May 2022 and over 20 units have been reserved.

Richard Jones commented ‘ In a normal market place we might sell or let a hand full of units a month or so before practical completion, but to have reserved so many units without breaking ground is incredible.’

Alwalton Hill new builds has provided all the takeup to the larger logistics operators, the Peterborough land market has provided little new space to the SME market where second hand stock levels are at an all time low.

Some units have sold to investors but by far the majority are being reserved by owner occupiers, taking advance of cheap money and the opportunity to move away from renting.

Take up also continues to show approximately 30% of occupiers coming from further afield which is great for the growth of the City moving forward.

For more details on the final phase of units available at Eagle Business Park please contact the sole agent Richard Jones from Eddisons on 01733 5564397 or email [email protected]

Tool wholesaler secures land for further expansion on Suffolk Business Park

C4 Kempson Way

Tool wholesaler secures land for further expansion on Suffolk Business Park

Eddisons, acting on behalf of the vendor, has sold a commercial development site at Kempson Way on Suffolk Business Park to adjacent occupiers, Sealey.

Plots 1 & 2, C4 Kempson Way occupies a site of 1 acre and is situated to the south of Suffolk Business Park in Bury St Edmunds, the town’s major area of commercial development. Neighbouring occupiers include TREATT, Bobby’s Foods and Denny Bros.

The development site will be used to grow the firm’s professional tool and workshop equipment business.

Speaking about the sale, Sealey’s Group Projects Director, Mark Sweetman, said:

“We are delighted to have secured this parcel of land adjacent to our current site which will allow us to expand our QC, Marketing and Warehouse facilities.

“This will help facilitate further growth of the business which in turn will create further opportunities for current staff and new openings as we look to grow the team.”

For more information on commercial land for sale in Bury St Edmunds, contact Simon Burton on 01284 702655 or [email protected].

New development of Light Industrial, Warehouse and Office units in Peterborough

Parigan Business Park Eddisons

New development of Light Industrial, Warehouse and Office units in Peterborough

Eddisons is the sole agent on a new development of light industrial/warehouse units and office suites at Parigan Business Park in Peterborough.

The development comprises nine high quality light industrial/warehouse units and two office units located adjacent to the A1(M) and Peterborough Parkway system. The buildings are being constructed to a high specification with the warehouses incorporating high quality offices with kitchen facilities, full height roller shutter doors and three phase power. The office units are to be fitted out to a high standard including air conditioning, suspended ceilings with LED lighting, and carpeting throughout.

The site benefits from CCTV and security barrier access, as well as ample car parking and an electric vehicle charging point is provided for each unit.

The available units range in size from 122sq m (1313sq f) to 834 sq m (8998 sq ft).

Parigan Business Park is the first new build scheme in Orton Southgate for over 10 years and is situated within Peterborough’s premier industrial and distribution location.

The development is located just off Bakewell Road and is well connected being directly adjacent to the A1(M) offering easy access to the national road network. In addition, Peterborough offers excellent rail services with a journey time to London of just 49 minutes.

Julian Welch, Director at Eddisons dealing with this instruction commented “this is the first new development in Orton Southgate for some time, and will provide much needed high quality new-build small light industrial, warehouse and office premises in this premier location. We are already seeing strong interest in the scheme and expect a number of units to be reserved prior to completion of the development in December this year”.

To arrange a viewing or for more information on units available at Parigan Business Park, contact Julian Welch on 01733 556496 or [email protected] or see https://eddisons.com/properties/parigan-business-park-jacob-way-orton-southgate-peterborough-pe2/.

Boost for the high street as Eddisons complete two retail lettings in Huntingdon

24 High Street Huntingdon

Boost for the high street as Eddisons complete two retail lettings in Huntingdon

The high street is set for a retail boost this autumn as Eddisons complete the letting of two retail units in Huntingdon.

Eddisons acted as the sole agent under instruction on the two units in the heart of the town’s retail core, 24 and 25 High Street.

24 High street has been let to financial advisors, Cambridgeshire Money, who plan to open mid September (2021). The property comprises 1,112 sq ft (103 sq m) of accommodation over two floors and benefits from a large display window to the High Street.

Speaking about the letting, Corey Whelan, Director of Cambridgeshire money, said: “The motivation for taking the new office for us comes off the back of a great start to the business and how 2021 has got off to a flyer and led us to needing more space for more expansion.

“As a company, we were launched at the very start of the pandemic and spent our first months managing to still push ahead and grow that required us to move into an office in July of last year but we’ve found in the last year we’ve still grown even further, expanding the team that we need more space as we plan to continue this trend and continue to grow.

“The office itself seems perfect for this for us with a great space and with the added bonus of a high street, shop front location really helping up grow our brand and exposure as well as making us more accessible to our customer.

25 High Street has been let to pizza restaurant and takeaway firm, Don’t Panic Pizzeria & Grill. The two-storey property of 901 sq ft² (84 sq m) was formerly occupied by an established local café.
Don’t Panic Pizzeria & Grill restaurant owner, Jordan Mason, said: “We are thrilled to be in our new premises, 25 High Street, Huntingdon.”

“Opening the first of many future stores is a huge milestone for us, and being locals, it was important to us that our first store was in Huntingdon.

“We hope to bring high quality food and drink to the town whilst opening up future job opportunities within the community.”

For more information on retail units to let in Huntingdon, contact Matthew Hunt on 01480 451578 or [email protected].

Thetford warehouse sold as demand continues to soar

Unit 7 Brunel Way Thetford

Thetford warehouse sold as demand continues to soar

The sale of a 34,966 sq ft (3,248 sq m) warehouse unit in Thetford has been confirmed by the Bury St Edmunds office of Eddisons.

Eddisons acted as the sole agent in the sale of 7 Brunel Way, Thetford – a mixed-use commercial property comprising a steel portal frame warehouse, single-storey office block and secure access loading yard.

The premises has been sold to local business for occupation and investment purposes.

Brunel Way is in one of the town’s main industrial and warehouse areas, located close to the Norfolk/Suffolk border with excellent access to the A11.

Eddisons’ Simon Burton comments, “We are delighted to have completed the sale of Brunel Way, which demonstrates the continued popularity of Thetford as a commercial hub.
The demand for warehouse and industrial space continues to soar in the second quarter of 2021 and we expect to see this trend continue.”

For more information on freehold opportunities or premises to let in Bury St Edmunds, contact Simon Burton at the agent’s office in the town, on 01284 702655 or [email protected].