WAREHOUSE SNAPPED UP AT OAKHAM BUSINESS PARK

Industrial/Warehouse News

An industrial warehouse on one of North Nottinghamshire’s most prominent business parks has changed hands in a deal which illustrates the continuing strong demand for high quality buildings.

Unit 2 Hamilton Place is a detached, self-contained industrial warehouse on the Oakham Business Park in Mansfield which was constructed in a joint venture between leading developers Sladen estates and Peveril Securities.

Sladen and Peveril have built a number of successful industrial and business developments in Nottinghamshire and Derbyshire, and the 24,542 sq ft Hamilton Place property was sold on their behalf by Laura West, of the Nottingham property consultancy FHP.

Laura commented:-

“This is a very high quality property in a desirable location and the fact that we received sustained and serious interest from the start was no surprise.

“Sladen Estates and Peveril Securities have an enviable track record in delivering impressive developments in strategic locations, and this building on the Oakham Business Park is no exception.”

“The challenge the market faces at the moment is that there is a dearth of new supply, so when units like this come on to the market the demand is already there.”

Laura West added:-

“Sladen is currently working on another major site nearby and the appetite for new space is such that I have no doubt demand will be high.”

Matt Sladen, of Sladen Estates, said he was always confident the Hamilton Place property would quickly find a purchaser. He commented:-

“The unit attracted high levels of interest from day one and was soon put under offer to the eventual purchaser.

“We believe this demonstrates pent-up demand in the market for good quality space which our new scheme, Summit Park, is strategically placed to satisfy. Summit offers high quality industrial and warehouse premises ranging in size from 2,500-600,000 sq ft on a build-to-suit basis, and we would welcome the opportunity to talk to any potential occupiers who may have a requirement.”

Oakham Business Park hosts a variety of businesses and organisations, ranging from engineering businesses to the NHS and the i2 business incubator. Its popularity has been driven by a mix of high quality buildings and its proximity to Mansfield and major road networks, including the M1, A38 and the Mansfield Ashfield Regeneration Road (MARR), which provides a link with the A1.

Scott Osborne, from Innes England, acted on behalf of the purchasers in the deal. He said:-

“Our client was keen to take this space, which is close to a road network allowing great access in and out of the county. There are few properties of this quality and size on the market.

“Like the rest of the east Midlands, the Nottinghamshire industrial sector is strong but lack of stock is an issue. Stock levels are running down because firms aren’t building them to the levels they were pre-recession – but we are confident we will see new build industrial stock being created across the East Midlands in the coming months.

“It’s important that we find buildings suitable for those firms with long standing requirements which enables them to grow. The building is the start of the cycle…it’s not easy for businesses to grow if they don’t have the space. And it’s important that we keep our east Midlands talent local.”

For further information or to register your interest for future availability within the estate place contact Laura West on 07917 460029.

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