The multi-let block has nine tenants including HSBC, Virgin Media, William Hill and Select. GCW believes that the block offers strong potential asset management opportunities including converting the upper parts into residential, letting a unit previously occupied by Vodafone and improving the tenant and lease expiry profile. GCW sees Northampton as a town with solid long-term investment potential.
Northampton Borough Council is investing significant sums in a new train and bus station and working with Northampton University to create a new £330 million town centre campus by the river, within the Waterside Enterprise Zone. This will bring 5,000 skilled jobs and 14,000 students directly to the town centre which will increase retail and leisure spend.
“We are delighted to have acquired this property within a tight timescale as a cash buyer. We are keen to acquire more in the current market conditions and we believe that we can add value” says Topland group asset management director Steve Pope.