Seven years after it acquired a former Northamptonshire scrap yard, developer St Francis Group and its agents have opened talks with potential tenants.
Unveiling plans for 32-acre Cransley Park — adjacent to Junction 8 of the A14 near Kettering — the company has appointed Northampton-based commercial agents Prop-Search and consultants Lambert Smith Hampton to market the venture.
Established in 1973, St Francis currently owns or manages more than 40 business and logistic parks across the UK and has built its reputation on turning round “problematic and contaminated” sites, either as joint venture or through sole purchase.
The Cranley plot, where initial ground clearance is almost complete, once housed an iron foundry before being used as railway vehicle graveyard. St James bought the land in 2007 when its scrap metal owner went into receivership. Since then several derelict buildings and hundreds of cars have been cleared from the site, partly funded by a £5m grant from Northamptonshire Enterprise Ltd for infrastructure and service improvements.
Enjoying the fastest post-recession economic growth outside London, local planners have already granted permission for 400,000sq ft of industrial, storage and distribution development and a hotel at Cransley Park. And several local businesses are already exploring the potential of build-to-suit and bespoke facilities on the site.
“After several years of inactivity in the occupier market we have, over the course of this year, seen an increase in requirements for new space,” explained Gareth Williams of the St Francis Group.
“With a lack of existing stock, Cransley Park is uniquely placed to capitalise on this growth by being fully consented and serviced and ready to go … The message, which we want to shout from the rooftops, is that we are open for business.”
Among the group’s more recent acquisitions are 800 acres it bought from Dow Chemicals, at Inverness; 130 acres from Akzo Nobel in Brantham; eight acres near Walsall from Cerro EMS, and 74 acres from British Sugar in Kidderminster.
“St Francis Group has the skill and experience to deal with all aspects of site management and development in order to remove liabilities, make best use of a site’s assets and prepare it for re-development,” says a company statement. “It is also able to offer all stakeholders full health, safety and environmental indemnities.”
Further information on the opportunities available can be obtained from the appointed agents Prop-Search – Tel: 01604 492000 or Lambert Smith Hampton – Tel: 01604 664366.
Story: Cliff Goodwin
Photo: Prop-Search ©
