Kate obtained her degree in Theology and Field’s Philosophy at Regents Park College. She takes particular responsibility for our property development portfolio and her following comments are taken from the most recent annual report.
“It has been an active year for property development.
In Norwich, Potter’s House Church has transformed our building at Paddock Street into an amazing place of worship. We expect commercial tenants to shortly take possession of our Barker Street warehouse and we have let another small office in Norwich to a computer consultancy. Our offices in St Neots are fully let and our previously empty space in Newmarket Road, Cambridge is now fully occupied. In Northampton we have some small vacant office spaces.
Of course, against the successes we have several tenants going through difficult times and have experienced bad debts and delays in rent payments. The Futon Company, Life-Force Fitness, Freedom Insurance and Elsie May’s Electric Lounge have all been pretty well shut for the majority of 2020 and this will be reflected in our 2020 results.
Our biggest venture of the previous year was a commercial centre in Tartu, Estonia where we have done reasonably well and although we end 2020 with vacant office space the predicted healthy returns continue to be achieved.
As I write we are in course of converting 509 Coldham’s Lane, Cambridge into 33 apartments. Also in Cambridge we anticipate the development of Chartwell House will commence in 2022.”