Chances not seen for many years; James Jackson of The Northumberland Estates and Simon Hill of King Sturge.

DEMAND for out-of-town space in Alnwick for office and light industrial uses may not be what it was 18 months ago, but recent lettings suggest that businesses of all sizes are taking advantage of the current favourable rental opportunities.

In Alnwick it is predominantly established local businesses that are looking to exploit opportunities created by the economic slowdown.

A good example of this principle in action is the Hotspur Court Business Park completed by the Northumberland Estates last January.

Occupation of the first units occurred just weeks later when Total Flooring was the first to take up residence, utilising its unit as a showroom and storage space to complement its town centre retail premises, and further lettings have followed.

As landlords we made a conscious decision to offer a flexible approach to the letting of these units. Offering flexible terms allows tenants to determine the length of their lease.

For the small and medium sized businesses looking to grow, this can be vital in helping them to make such a long-term decision. It is a policy which appears to be paying dividends.

Within the Lionheart Enterprise Park to the south east of the town and next to the A1, Hotspur Court offers units ranging from 1,500sq ft to 3,000sq ft, with scope to join larger units if required.

With rents from pounds 8,625 per annum, excluding service charges, these are the first new and high specification business units to be constructed in Alnwick for more than a decade.

Despite the current economic climate these recent lettings at Hotspur Court demonstrate that there is still demand for high quality industrial space in the right location.

Hotspur undoubtedly offers a rare opportunity in the Alnwick area for small and medium sized businesses to obtain new, high specification industrial premises in close proximity to the town centre, an option that simply hasn''t been available to local businesses for many years.

We expect further interest in the units from businesses looking to take advantage of this excellent opportunity. Planning permission to extend car parking at Cawledge Park, a Northumberland Estates office development next to the A1 south of Alnwick, has recently helped to boost letting interest there.

Since securing this planning permission, two further units have come under offer, with more interest now anticipated.

James Jackson is Northumberland Estates commercial director and Simon Hill industrial partner at King Sturge