Royal Pavilion, Moulton Park, Northampton, NN3 6BJ
Kealey Services, represented by Franck-Steier Price, has recently completed the disposal of a vacant business park office located on the busy Moulton Park, Northampton.
The property is an attractive modern office building constructed in 1993 and extends to 22,290 sq ft across 2 floors with 96 car parking spaces.
The property is vacant having been occupied since construction by the Secretary of State and offers a fantastic value add opportunity for the purchaser to refurbish the building and deliver high quality office accommodation into an office market short of high-quality space. The building offers a unique opportunity to deliver a HQ building, of which there are no competing opportunities within the market, or a multi-let building being able to be divided into 6 suites across the 3 wings per floor.
James Hemstock of Franck-Steier Price commented that “In the midst of a Covid landscape, the sale of a vacant office is not without it’s challenges but the successful completion shows that there is strong confidence in the regional office market returning to normal and for the right opportunities there remains good depth of investor appetite.”
The property was sold for £1,220,000 which reflects £54.73 per sq ft.
The Purchaser was a private investor, represented by Simon Chown of Chown Commercial.