Abingdon's Barkby Group completes first Roadside development

Published by

Tom Kilkelly

Barkby roadside development at Wellingborough, picture: Barkby

Barkby Group PLC, a real-estate, hospitality, and life sciences company based at Milton Park in Abingdon, has announced that work on its roadside development in Wellingborough has been completed.

The company also announced that the newly completed development has also been fully let.

Barkby purchased the site for £540,000 in January 2021 with 90 per cent of lettings already chalked in pre-construction. Occupiers include Greggs, Formula One Autocentres, City Plumbing Supplies, and a Brewers Decorator Centre branch. The total rental income for Roadside will be £237,000 per annum.

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The development has an EPC rating of A. Barkby is looking to further build on this with the completion of four Electric Vehicle charging bays.

This completion marks the company's first development in a growing portfolio of roadside real estate. Barkby is currently waiting on the completion of another roadside scheme in Maldon, with construction due to be completed in six weeks.

Executive chairman of Barkby Charles Dickson said: "Wellingborough's practical completion is an important milestone for the company. It is our first development to have completed in line with our roadside real estate and EV strategy, through which we will build a portfolio of high-quality income generating assets sustainably providing essential services to their local communities and the wider general public.

"Declining town centres and prohibitive transport policies are hollowing-out urban centres across the UK. Roadside Retail developments like Wellingborough enable consumers to easily purchase a range of essential goods and services with free convenient car parking."

"Occupiers face comparatively lower rental costs compared to town centres and we are seeing strong demand for these sites, particularly from drive thru, foodvenience, trade counter and local logistics tenants."

Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022. During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan). His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.