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The South West Torridge – a great place to live, work and visit


Caddsdown Blue


For a relatively small Local Authority, Torridge District Council has a substantial property portfolio, with over 300 property assets throughout the district, much of which is based in the main centres of Northam, Bideford, Holsworthy and Torrington.A significant amount of our property is commercially let, Caddsdown Business Centre being a prime example. Caddsdown provides local businesses with the opportunity to occupy a range of accommodation on flexible, tenant friendly lease arrangements. These range from serviced studio office space alongside a professional conference facility, multi-occupied office accommodation; industrial units and a recently completed stand alone, modern office building, known as Caddsdown Blue.


This 4,000 sq. ft. office building was completed with a pre-let on the first floor. The Torridge Property team are actively marketing the two remaining ground floor suites.


Overlooking the stunning Torridge countryside, the facility benefits from excellent transport links to the North Devon Link Road and on site staff to support business located at the Caddsdown site.


The first floor tenants of Caddsdown Blue are a success story in themselves, having started out as a one person team in a studio in the main building, taking on more space as their enterprise grew.


The success of the conference facility has seen bookings and revenue increase by over 60% since 2015, and TDC Estates and Caddsdown teams are committed in investing in the business centre to continue the success of the business model going forward.


Investing in the Council’s property assets not only means it can service the needs of the business community, but it can generate revenue to support the authority’s budget and provision of essential services.


Property assets such as Caddsdown essentially become a business entity in their own right.


Elsewhere in the district, the property team took back the management of Torrington Pannier Market last year and are proactively working to improve the offer to tenants and visitors to the future scheme.


In Holsworthy, the TDC business units are fully occupied, and we are looking to expand the employment land available to meet continued demand from businesses in this very active area.


The district in general has a very strong commercial business environment, and with many local companies continuing to expand, this is creating demand for space which currently outstrips supply.


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The Property team are in the process of acquiring more sites to meet and service this demand, with funding already allocated from the Capital Programme.


The Council promotes a very strong working relationship between the Property and Economic Development teams, where both teams get involved and work together from the outset of a project, with the recent Future High Street Fund being a prime example of this. Hard work form the in-house team supported by professional advisers and local business is producing an exciting bid which could transform the centre of Bideford !


On an operational level, there are exciting times ahead with the planning of a purpose built environment centre for the Councils works team. A modern, state of the art, flexible and environmentally friendly building will transform the efficiency of the councils recycling operation, and has the potential to provide extra commercial accommodation for business in the future.


The property team are also working in conjunction with Housing to support their temporary accommodation needs, a common issue now with many local authorities.


By investing in their own property assets, they can better meet emergency housing needs from within their own property portfolio, reducing costs, but providing the appropriate standard of accommodation needed for families and individuals in difficult circumstances.


Rather than working in a silo environment, the Property Team’s strategy at Torridge includes a drive to work interactively with other services, supporting economic growth inside and outside the authority. The primary aim will always to create economic, social and environmental benefits, and promoting revenue and capital growth through ongoing investment in our property portfolio.


Strengthening the council’s own asset base, but investing in and supporting the local economy at the same time!


Torridge - A great place to work, live and visit...


For accommodation or conference centre enquiries please contact our Estates Team, Helen Bond (helen.bond@torridge.gov.uk) ~ or Sarah Pennington


(sarah.pennington@torridge.gov.uk) 01237 428700


COMMERCIAL PROPERTY MONTHLY 2020


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