Business park sector still thriving in Hunts
IN spite of recent successes, the business park development sector is slowing down because of lenders caution, says Huntingdon-based Artisan (UK) Developments Limited. But the underlying strength of the economy is such that businesses are growing and wil
IN spite of recent successes, the business park development sector is slowing down because of lenders' caution, says Huntingdon-based Artisan (UK) Developments Limited.
But the underlying strength of the economy is such that businesses are growing and will need larger premised, managing director Michael Eyres told The Hunts Post.
Artisan now has only one industrial unit left for sale or lease at its new Venture Court business complex in St Ives and only a single office unit at Fenice Court, near the A1 and A428 at Eaton Socon.
In St Ives, it recently sold three units, one of them to a local company, Magdelene Limited, which specialises in bespoke telecommunications systems.
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Venture Court will also be home to the new English base for The Door Centre Limited, which is based in Scotland and is looking to expand south of the border. Artisan has not yet revealed who the third purchaser is, but said it was also local.
Artisan bought the site in 2006 and finished building the nine units there in March this year.
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"Venture Court is a high specification development carefully designed and built for the SME," Mr Eyres said. "The speed of the sales and uptake by local businesses is extremely gratifying, and shows we understand what out local businesses need and want."
The purchasers at Fenice Court are also local firms, Lifesure Insurance and accountants Davey Grover.
Barker Storey Matthews and Savills are jointly marketing the remaining units at both sites.
But, although developments in Huntingdonshire are selling well, those elsewhere in East Anglia, the Home Counties and Midlands have been less successful, Mr Eyres said.
"The SMEs who would like to buy freehold are feeling the same credit squeeze as everyone else. The general uncertainty is making people feel more cautious. But it' patchy. These two sites have been very successful.
"We have a number of negotiations going on for larger industrial and commercial premises, which is encouraging. Firms still need to expand. The underlying strength is such that companies are growing, so they need more space."
INFORMATION: Artisan is at Vantage House, Vantage Park, Washingley Road, Huntingdon PE29 6SR. Telephone 01480 436777. www.artisandevelopments.co.uk.