Royston Labels expansion leads to freehold investment opportunity
Expansion plans by Royston Labels will release five modern business units – including three freeholds – into the market for occupation in spring 2018.
The company is moving into a building it is totally refurbishing at 17-20 Greenfield on the Orchard Road estate, Royston, which totals over 60,000 sq ft on a two-acre site.
Mark Robinson of agents Robinson Layer, who acted for Royston Labels in purchasing the Greenfield complex in 2014, said: “This is a massive step up for the company, which currently occupies a total of 25,000 sq ft on the five properties it owns and another double unit it rents and is handing back to the landlord.”
Three of the units being offered for sale are in nearby Orchard Road: Units 3 and 4 are a mid-terrace double unit totalling 7,315 sq ft, which is available freehold, preferably as a whole, but could be split into two equal sized units.
Unit 18 Orchard Road is an end of terrace unit of 3,220 sq ft plus mezzanine of 670 sq ft, which is available freehold. Around the corner, Unit 6 at the rear of 24 Jarman Way totalling 2,185 sq ft and the adjacent Unit 7 totalling 1,615 sq ft, are being retained by the company and are available to rent on new leases.
Mark Robinson added: “Small freeholds such as those we are offering are fairly rare and are often purchased as part of the pension scheme of the directors of the occupying companies. They are certainly a good investment opportunity. There is a real shortage of small good quality units, so we expect the rental properties to be snapped up very quickly too.”
For more information, call Mark on 01223 346195 or email him at: mbr [at] robinsonlayer.co.uk
• PHOTOGRAPH SHOWS: Units 6-7 24 Jarman Way, Royston