Simultaneous lettings ‘underlie buoyant market’
ST NEOTS property specialists Barford and Company have succeeded in letting two adjacent business units to different tenants simultaneously to coincide with the surrender of the existing lease.
Unit 3 at Foundry Way in Eaton Socon has been let to Cracker Jacks; a new venture children’s activity centre with caf� following a change of use consent. The business will be targeted at children up to 12 years old and offer facilities for parents to meet and relax while their children play. The company is aiming to have completed its extensive fit-out and be open for business by the end of October.
The slightly larger Unit 4 has been let to Image Picture Frames Ltd, specialising in creating high quality picture frames for a wide variety of requirements using traditional and modern techniques. Recent rapid growth has driven the need for larger premises.
Barford’s Howard Westgate, who handled the negotiations for the five-year leases, said:“The two units were held by my client under a single existing lease and so a surrender of their interest was necessary.
“Lining both new tenants up for completions simultaneously with the surrender, while running a planning application alongside, was an interesting challenge but a positive outcome was achieved. It also demonstrates that demand for business premises in the St Neots area is strong in spite of the national downturn in demand.”