On behalf of retained clients, FHP Property Consultants are delighted to announce the recent instruction to market 12 Market Place, Derby.  The building which has a ground floor sales of 48.66m² (524ft²) is available on a new full repairing and insuring lease at a rent of £20,000 per annum.

Should you require any further information on this property or any other retail opportunities in Derby then please contact George Dunnicliff at George@fhp.co.uk or on 01332 343222.

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COUNTRYWIDE, the biggest name in the UK property services market, has made a move of its own by relocating a key administrative and customer contact operation to one of the most prestigious and best-established business parks in the East Midlands.

The UK’s largest estate agency did not have far to go when expansion meant it needed to find a new location for the operation – it has switched from an existing base in Mansfield to a 20,000 sq ft standalone building at the Sherwood Business Park close to Junction 27 of the M1 at Annesley.

Nor did Countrywide need many removals vans when it made the move. For the building it has taken over was left in plug-and-go condition by its previous occupant, Homeserve, with furniture, partitioning and data installations meaning the new occupier could get an important business function up and running very quickly.

Countrywide, which trades through leading high street estate agencies such as Bairstow Eves, has moved into Sherwood Court on Sherwood Park in what is one of the largest office lettings in the East Midlands in recent months. The deal was concluded by John Proctor, of the Nottingham property consultancy FHP.

Brad Pitts, Project Manager at Countrywide, explained: “The administration and contact centre is a crucial function within our business, and an expanding one. We carried out an exhaustive search of the options available for relocation and Sherwood Court was the obvious choice. It suits our purposes well because it is a detached building on its own site, which means we have full control of our operations and we are operating from a modern and flexible office environment.”

Countrywide has taken a 10-year lease on the L-shaped building, which has an atrium entrance area and flexible workspace ranged around a central corridor. John Proctor, who acted for property investment syndicate landlords, says that the presence of fixtures and fittings proved decisive in Countrywide’s decision to select it as their home.

He commented: “The landlords fully recognised the value of the fit out which had been left in situ by Homeserve, and the fact that we were able to offer the building in plug-and-go condition was a key factor in Countrywide’s decision to choose this location.

“Countrywide is a market-leading business which clearly required a certain quality standard, and the detached nature of the building and the flexibility of the internal space also played an important part in their decision. But the way in which the landlords worked with Homeserve to ensure the building was left with not just furniture but a working data and telecoms installation meant we were able to show potential occupiers a fully functional building able to accommodate an open plan layout.

“While it’s true that many potential occupiers will think of doing their own fit-out, the way in which Sherwood Court was maintained and marketed after Homeserve’s departure suggests there is potential added value in keeping existing fixtures and fittings in place. It could mean a move being made quickly and fit-out costs being reduced.”

Brad Pitts added: “It was certainly immensely helpful for us to be in a position where the lead time for a substantial move was reduced. The logistics of moving this kind of operation can be complex, and the availability of not just furniture but data and telecoms infrastructure meant we were able to reduce our costs and ‘switch on’ the operation quickly.”

Sherwood Park is one of the most prominent strategic business locations on the M1 corridor in the East Midlands, and John Proctor says opportunities like that presented by Sherwood Court are becoming rare.

“While the market remains difficult, FHP has seen an upturn in interest in good quality office space in recent months,” he said. “However, finding this office space is not easy as funding challenges and caution among potential occupiers means nothing new is currently being built.

“The result is that those businesses who are looking to move or expand are focusing on good quality existing stock. This is the pattern we have seen play out during 2012, with Browne Jacobson taking vacant HMRC space at Castle Meadow, the Nottingham Post Media Group going to City Gate, the land Registry taking their building at Castle Wharf and TDX taking space at The Pod on Fletcher Gate.”

John Proctor concluded: “It is still a tenant’s market, but the balance between supply and demand is beginning to shift in a way that looks likely to lead to a strengthening in rental deals and a hardening in the terms offered by landlords. If we now see some sort of upturn in the economy the the market will have to start thinking about a new build programme.”

 

For further information contact John Proctor at FHP on 0115 950 7577

 

 

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FHP Property Consultants are delighted to announce the letting of 21 The Ropewalk located in the prestigious ‘Professional Quarter’ of Nottingham City Centre. The new occupier, Rizk McCay Limited, have bucked the market trend and expanded their operation from Mansfield Road to take this very well presented office property which sits well with their company image.

RizkMcCay is a highly creative design, marketing, advertising and branding agency delivering print, digital, exhibition and environmental designs both regionally and nationally, for clients such as Boots, Gleeds, Maber Willmott Dixon, CPW, Scape and FHP!

Helen Andrews, Director at Rizk McCay commented:-

“We are blessed with great clients who have continued to invest in their marketing and branding throughout the difficult trading conditions of recent years. We have completely outgrown our current studio and needed somewhere professional yet characterful.

We approached FHP to search for options in central Nottingham. They really listened to our needs; creative studio space, meeting rooms, parking and a central location with flexible terms, and responded swiftly. From first approach to moving in has been 4 months! Mark Tomlinson has guided us through the whole lease process with diligence, patience and a pragmatic approach at all times.

Hopkins Solicitors, Gaskells and FHP worked together ensuring the process was very time-light from our perspective allowing us to continue focusing on our steadily growing business.”

Mark Tomlinson, Surveyor at FHP Property Consultants who acted on behalf of the landlord commented:-

“This letting marks yet another transaction for the ‘professional quarter’, which has had a very positive year in welcoming new occupiers.  Rizk McCay is a successful local company and I am delighted that they saw the business opportunities and the working lifestyle that this location has to offer. They are definitely a good addition to this area of the city.”

“21 The Ropewalk was refurbished throughout when the previous tenant vacated making it an easy and desirable option to potential occupiers – something which is of paramount importance for both landlords and tenants in this market.”

The neighbouring property is now being marketed ‘To Let’ – contact Mark Tomlinson for further information on 0115 9507577 or mark@fhp.co.uk.

 

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It is a heritage footwear brand which has reinvented itself for a new customer base in a new era – and it has now marched into a well-known location in Nottingham which is taking some confident steps of its own down the same route.

Dr Martens, famous for a trademark ‘AirWair’ sole which became a firm favourite of tradesmen and teenagers alike, is the latest arrival in The Exchange, the upmarket arcade inside The Council House – the civic icon which defines the centre of the city.

The deal to bring Dr Martens to The Exchange has been secured by Ben Tebbutt, a director of the retail and leisure team at the Nottingham property consultancy FHP.  He says the deal is one of a series which symbolises the way that one of Nottingham’s most prestigious retail environments is starting to attract brands which could bring in a wider audience.

Dr Martens – whose boots and shoes are known as DMs – can trace its origins back to the early 1960s, when a long-established Northants shoe firm saw potential in an air cushioned sole invented in Germany by Dr Klaus Maertens.  Even in its early days the anglicised Dr Martens workwear boots and shoes tapped into youth culture, with rock star Pete Townsend wearing them on stage during performances by The Who.

DMs have since become design classics, with Dr Martens rolling out its own retail chains, including a flagship store in London’s Covent Garden, and introducing clothes and accessories which have transformed it into a fully fledged fashion brand.

Ben Tebbutt says the arrival of Dr Martens shows that the Exchange Arcade is using its own status as a heritage location to appeal to shoppers in the same way as Covent Garden.  “Exchange Arcade is part of an iconic building which offers a beautiful undercover trading environment,” he said. “For many years, it has been established as an upmarket environment favoured by retailers who appeal to mature and discerning shoppers.  The comparison with Covent Garden makes sense. It is next to the Market Square, a great open space similar to those which surround Covent Garden, and it’s a natural meeting place for people.”

Earlier this year, FHP brought Patisserie Valerie to the Exchange Arcade, giving shoppers a greater incentive to stay in the arcade with an outdoor seating area under the Council House dome.

Ben Tebbutt said: “Exchange Arcade has been seen as a place with a very traditional clientele, and what we’re doing with both Patisserie Valerie and Dr Martens is broadening its appeal to a younger generation which also appreciates heritage brands.

Dr Martens is a brilliant example of a decades-old brand which has reinvented itself with fresh, and sometimes quirky designs which means it is as relevant now as it was 50 years ago. They will be a great asset to the Exchange Arcade and they open the door to a greater range of retailers in a stunning, sophisticated environment.”

Dr Martens, has moved into the unit formerly occupied by Kookai, taking a 10-year lease on a 900ft² ground floor trading space and a 920ft² basement.  Ben Tebbutt acted for CBRE Investors in a deal which sees Dr Martens pay £55,000 per annum.

He added: “The arrival of Dr Martens is not the only high-profile brand we have signed up recently and it demonstrates yet again that Nottingham’s status as the prime retail destination in the east Midlands remains undimmed.”

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Frankie Labbate, Surveyor at FHP Property Consultants has let 39 Pelham Street, Nottingham acting on behalf of a private landlord to Rewind Clothing. 

Rewind Clothing have connections with G Star who have been trading in the vicinity for approximately six years.  Rewind Clothing strategically targeted Nottingham as their first UK store for the sale of its vast range of vintage clothing due to its central location and healthy student population.  This long anticipated venture into prominent high street retail premises illustrates how this part of Nottingham is becoming a prime location for vintage themed retail and niche operators.

Frankie Labbate of FHP commented:

“I am delighted to add yet another fashionable, current and niche retailer to the tenant mix on Pelham Street.  It is fitting that such a charismatic building such as 39 Pelham Street is married with such a complimentary retailer.  39 Pelham Street is an important building which bridges the city centre to Hockley and I firmly believe that the presence of such a popular product will help bridge the gap and evidently improve footfall into the heart of Nottingham’s creative district.  This will be an improvement not only to this unit itself but to the wider area as a whole.

I have no doubt Rewind will prosper as a result of their new current and stylish home.  Furthermore, I wish them every success with their business going forward and I have no doubt that the product lines they have on sale will help establish a strong and loyal customer base”.

The presence of Rewind Clothing on Pelham Street will certainly help improve the vibrancy in the area as a whole.

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Frankie Labbate, surveyor at FHP Property Consultants, has let 72 High Street, Hucknall, Nottingham acting on behalf of Farcastle Group Limited to The Money Shop.

The Money Shop have circa 500 branches throughout the UK and this move into Hucknall represents their first ever retail unit in the town.  The opening of this branch highlights the demand for pawn broking services in suburban towns such as Hucknall.  The opening of this store illustrates The Money Shop’s intent to maximise their brand not only in prime areas but also in suburban districts throughout the UK. 

Frankie Labbate of FHP commented:

“I am delighted to have secured such a strong tenant such as The Money Shop on competitive terms in what is their first ever store in Hucknall.  Furthermore I am satisfied to see such a large organisation establishing itself further in Nottingham’s retail market.

The Money Shop have completed their fit out and have commenced trading and I wish them every success with their store moving forwards.  I have no doubt that this use will be well utilised and really complement other occupiers within the vicinity.  Hopefully the introduction of such a covenant will encourage more national retailers to take advantage of opportunities in similar market towns.”

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FHP Property Consultants are delighted to announce the sale of The Park Clinic at 36 Regent Street in the Professional Quarter of Nottingham City Centre.

The property comprises a four storey period building, which is occupied by a range of medical practices including Physiotherapy, Eye Clinic, Personal Training, Counselling, Cosmetic medicine, and Beauty therapy.

The building has been purchased by a local property investment partnership who are now in the process of agreeing new leases with all the existing occupiers, who continue to run their businesses from the clinic.

It’s business as usual for the successful Nottingham Park Clinic practices, whilst the building undergoes substantial and necessary renovations.

Mark Tomlinson of FHP Property Consultants, who are acted on behalf of the vendor commented:-

“A purchaser for this property was found within a very short space of time compared to most commercial properties on the market at this time. This highlights the demand for freehold opportunities in this location as we did receive quite a number of enquiries and undertook a number of viewings on the property prior to achieving a disposal.”

He added:-

“Over the last few years property values in this area have seen a decline but certainly not as significant as many properties in more secondary locations. There remains an underlying demand for property in this area given that it is well located and remains popular among medical, professional and residential occupiers. I expect to see value in the area slowly creeping up over the next year or so.”

FHP Property Consultants have now been instructed with Innes England to find further specialist clinics/consultants who require City Centre rooms.

For further information please contact Mark Tomlinson at FHP on 0115 950 7577.

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Acting on behalf of Antler Sherwood Park (No 2) Unit Trust FHP are pleased to confirm that they have let 13,094ft² to Yusen Logistics (UK) Limited comprising part of the first floor of 1 Oakwood Court, Osier Drive, Sherwood Park.

Yusen have taken the premises on a five year lease with 64 car parking spaces and are fitting out the premises with a view to taking occupation in the new year.

The premises are being used as the UK Headquarters of Yusen Logistics who are relocating from their existing offices at Junction 28 of the M1.

John Proctor, who handled the letting on behalf of Antler, confirmed:-

“It is very pleasing to achieve a letting of this nature in a highly competitive market.  Over the past few months we have let in excess of 34,000ft² in the park following our recent letting at Sherwood Court to Countrywide.  Sherwood Park undoubtedly gives a potential occupier value for money by virtue of the competitive stock which is available”.

This letting means that there are only some 4,900ft² left in the building which is now being offered in the market.

For further information contact John Proctor at FHP on 0115 950 7577

 

 

Latest news

In a year when Castlewood has already seen the completion and hand over of a 500,000ft² unit to the Co-op and the letting of a 40,000ft² unit to local occupiers Midland Aerospace, this final deal of the year which has seen a 60,000ft² build to suit unit constructed for local occupiers Meridian Lightweight Technologies has now been completed and keys have been handed over. 

Delivered on time and on budget this is a significant deal which sees one of only a handful of design and build transactions in the region this year complete a highly successful year for the site which sits just off Junction 28 of the M1 at its intersection with the A38.

Whilst Clowes should be applauded for their ability to deliver product on time and on budget the key significance of this building is that it sees a local occupier relocate to the site and take on brand new bespoke space, constructed to their own ‘perfect’ specification after reaching the conclusion, as seems to be a likely scenario for many requirements currently in the market, that stock levels are poor and accommodation is limited.  To make a move worthwhile a design and build on Castlewood for any occupier around Junction 28 must be the ideal solution.

The deal was agreed by Tim Gilbertson of FHP acting on behalf of Clowes who continue to market the remaining 80 acres of the site and offer the ability for bespoke solutions to be provided for occupiers from as little as 20,000ft² upwards. 

Tim Gilbertson commented:

“In a year when the property market has struggled as a whole in line with the economy in general, this deal has been fantastic news for our clients, the occupier and indeed the market in general.

Whilst Castlewood has always set out to serve both the national and local markets, the deal with the Co-op has seen a new unit of nearly 500,000ft² constructed earlier in the year to prove our faith in our ability to attract national occupiers, in its own way this deal is equally significant.

In testing economic times to have the ability to attract a substantial local company who are confident enough in not only their own order book but also the quality of the site and premises to agree a 15 year lease is testament to the superb opportunity that we have here.

Over the last 12 months I have had any number of enquiries from occupiers around Junction 28 who have been stymied in their ability to locate the perfect building due to the lack of stock and calibre of space available.

Hopefully therefore Meridian are now setting the trend for the future and, given that from completing the contract to handover has taken less than 6 months there is no reason why even the most urgent of enquires cannot be accommodated on a design and build basis.

The site we have is superb, suiting industrial and warehouse occupiers alike with the key benefits of immediate access to the A38 and J28 of the M1 plus huge power supply available on site for any industrial or manufacturing use. 

Completion of this deal, the letting to Midland Aerospace and the occupation of the building by the Co-op will see the site’s profile and activity rise hugely and with other deals already in the offering, hopefully there will be further good news to report soon.  Good news for Castlewood certainly means good news for the local economy.”

James Richards, Development Surveyor in charge of the site from Clowes Developments commented:

“This is another tremendous deal for Castlewood in what has been a busy and hectic, but most importantly successful 2012.

We really hope that this design and build deal where a bespoke unit was constructed for a local occupier within 9 months of completion of legal documentation shows how speedily local occupiers can be housed in bespoke premises which suit their needs, with property delivered on time and on budget. 

We still have over 80 acres left at Castlewood and from the deals completed this year we very much hope that 2013 will prove to be equally successful as we certainly have the scope to provide occupiers with bespoke solutions.

Equally, given the sites superb location at the junction of the M1 at Junction 28 and the A38 these deals confirm again that this really is one of the regions prime locations and wiith negotiations ongoing on various other propositions at present we hope that 2013 will bring similar success to the year just gone.”

For full information on the Castlewood scheme or to discuss your potential requirement please contact Tim Gilbertson at FHP on 0115 9507577.

Latest news

Frankie Labbate, Surveyor at FHP Property Consultants has let 3 Carlton Street, Nottingham acting on behalf of a private landlord to Cow Holdings Ltd.

Cow previously traded in a secondary position on George Street for approximately 5 years.  Cow are well established both locally and nationally across their 5 stores for their range of vintage clothing and vibrant fit outs.  This long anticipated move to more prominent high street retail premises illustrates their intent of capitalising on the current increase in demand for vintage clothing and accessories.  Their elaborate fit out certainly illustrates their determination to make Cow Clothing the number one vintage retailer in the East Midlands.

Frankie Labbate of FHP commented:

I was delighted to have brought such a forward thinking and current retailer to such a prominent and beautiful building such as 3 Carlton Street, Nottingham and I am certain that both will do each other justice.  It is such an important building in the Hockley area and I firmly believe that the upgrades Cow have made to the ground floor and first floor certainly improve not only the retail unit itself but the area as a whole.

Despite this move being very small in distance, it is a very large step in terms of positioning and I have no doubts that they will prosper as a result of their new prominent and stylist home.  Furthermore, I wish them every success for their business going forward and no doubt it will persevere to amplify their loyal and strong customer base they already have.  The presence of Cow Clothing on Carlton Street not only compliments other occupiers in the vicinity but also helps inject more vibrancy into Hockley as a whole”.

Steve Adamson of Cow commented:

“We would like to thank FHP for presenting us with the opportunity to acquire such a prominent and brand relevant building.  We are ecstatic with this location and have had an unbelievable start to trade already.

We feel very confident this store will continue to grow and amplify the loyal customer base we already have”.

If you require any further information with respect to this deal, please do not hesitate to contact Frankie Labbate on 0115 841 1157.

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FHP Property Consultants have been instructed to market a 5,000ft² office building which is currently under refurbishment in The Lace Market area of Nottingham City Centre. The property is a former gymnasium and is currently undergoing a substantial renovation to provide predominantly open plan modern office accommodation within a very attractive and well located period building. The property will comprise a double height entrance atrium fantastic for local businesses looking for increased presence in the city and a building to create an excellent impression to visitors.

The property will be available early in the new year following its refurbishment and will be brought to market either for sale or to let.

For further information please contact Mark Tomlinson at the FHP Nottingham office on 0115 8411134 or mark@fhp.co.uk.

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FHP Property Consultants are delighted to announce the expansion of Newson Gale, a supplier of static earthing solutions to industrial users. The company have been based in this area of Colwick for some years and are experiencing positive expansion and have therefore elected to take a further unit at City Business Park just off the main Colwick loop road to the east of Nottingham City Centre.

The property comprises a terrace of four recently constructed light industrial/trade counter units and have proved popular with the local market in the last 6 months.

Mark Tomlinson of FHP Property Consultants who acts on behalf of the landlord jointly with Property Consult commented:-

“The completion of construction of these units took place at a difficult time which coincided with the decline of the economy. This resulted in subdued demand for trade counter units and light industrial premises in this location. The units had stood empty for some time and we were invited to market the premises earlier this year as a result. Following only a slight correction in the quoting rents and a new marketing strategy we have generated encouraging levels of interest for these units and there is now only one unit left available on site.

The remaining unit extends to 3,250ft², a good size for a local occupier seeking a modern and well presented unit in a prominent and well accessible location to the east of the city.”

For further information please contact Mark Tomlinson on 0115 8411134 or mark@fhp.co.uk.

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FHP have been instructed to market Building A Blenheim Court, an end of terrace light industrial / warehouse unit of 6,019ft² which is let to Hotchkiss Limited who are a low risk covenant at a net rental of £32,468 per annum which reflects a low capital value of £51.47 per ft².

John Proctor, who is handling the instruction in conjunction with Tim Gilbertson at FHP, confirmed:-

“The property is priced at £310,000 which provides an Investor a net yield in excess of 10% from the outset – the perverse impact of the financial market is that properties such as this where there is a relatively short term lease (the Tenant has a break clause in April 2015) means that you can purchase properties with Tenants at lower figures than one could achieve if the buildings were sold with vacant possession.  One would obviously hope that when we see recovery within the overall market and particularly the availability of finance that an opportunity such as this will not only provide the ability for a good initial return but also good prospects for strong capital growth”.

For further information contact John Proctor at FHP on 0115 950 7577

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James Hartley of FHP Property Consultants can confirm that he has completed the letting of the ground floor 989ft² office suite at Unit 16, The Triangle on behalf of Abbeyfield Estates to TSL Education.

James Hartley commented:

“The letting to TSL Education is an excellent letting for an office of this size to attract such a strong covenant is rare.  The office will house TSL’s new online department and they hope to expand rapidly in the space with an option over the first floor for the next 2 years.” 

This leaves FHP with only one office, No. 18 on NG2 Business Park which can accommodate lettings from 1,900ft² up to 3,800ft².

Latest news

FHP Property Consultants are delighted to see that the refurbishment and fit-out works have commenced for Europcar to take occupation at A1 Cranmer Road, West Meadows Industrial Estate. The end unit which is located just off Derby’s Pentagon Island is going to be the new Derby hub for Europecar who are having an extensive refurbishment.

George Dunnicliff at FHP Property Consultants acting on behalf of the client commented:

“I am delighted to see that conversion works have commenced down at Cranmer Road ready for the Europcar to take occupation in February. I am confident the former Peugeot showroom will convert into an excellent new home for Europcar and allow them to continue to offer their service within the Derby Market.”

For further information on this property please contact George Dunnicliff at FHP on 01332 343 222 or george@fhp.co.uk.

 

Latest news

FHP Property Consultants are delighted to announce Johnsons Removals have completed the lease at 21 Enterprise Way, Jubilee Business Park. The property which extends to 7,144ft² has been let bay way of a new full repairing and insuring lease.

Further details on this transaction are available upon request from George Dunnicliff at FHP on 01332 343 222 or george@fhp.co.uk.

Latest news

Unit 18.5 at Amber Business Centre has been let on a full repairing lease to a timber famed process company. The unit which extends to 2,235ft² has been let on a year’s lease.

 

Latest news

In March 2012 I wrote an article called ‘A Polished Pearl Waiting to be Discovered in Nottingham City Centre’ and I am pleased to say that in less than 8 months since this article we have managed to fill the building.  All four vacant floors are now let to three tenants.

I would like to say that this is purely down to good agency work and I would be lying if I did not say the team at FHP worked hard on this.  I would however, not be giving the property and clients themselves enough credit.  

It has been the quality of space and presentation of the building that has enticed the occupiers.  Some of them initially needed persuading to view having previously seen the space years before in an unrefurbished condition, but once in the offices sold themselves.   

The first letting was on the Seventh Floor to Turner Townsend who were relocating from Lock House in the City Centre.  This was quickly followed by The Press Association and then more recently Direct Health, both of whom have moved into the building from period buildings. 

It would have been easy for the landlords, Development Securities, to have listened to the bad press surrounding the office market, looked at the results on their other office schemes and taken a conservative approach to the space.  If they had done I am sure we would not have secured these lettings.  Thankfully they did not and instead embarked on a first class transformation which is hard not to be impressed by.  The reception and offices have been transformed leaving a positive lasting impression on people viewing the space.  

The Pearl is not the only beacon on light that we can report on within the office market in the Lace Market.  With good quality space starting to run at a premium within Nottingham we have seen this success story repeated elsewhere in the City.     

We have had overwhelming success on Broadway, a former Mill building that we are marketing for local landlords Spenbeck. 

We met with Spenbeck in March 2012.  Our advice was that they had two options for this building.  Firstly effectively leave the building as is and mothball it, or secondly, do a top class refurbishment and give yourselves the best chance of letting the space. 

Again, thankfully they listened and 8 months later we have let six suites in the building to four different tenants and are now embarking on a second phase of refurbishment elsewhere within the period building.  This success has excelled our expectation.   

All the tenants that have been attracted to the building are existing Lace Market or surrounding occupiers who currently occupy serviced offices and want to make the step up in terms quality space.  

The feedback has been that Broadway is comfortably standing apart from the competition at the moment due to its high class sympathetic refurbishment that marketing modern day offices need with the period features of the building. 

James Hartley, who is dealing with both The Pearl and Broadway commented as follows: 

“The East Midlands office market is at a tipping point at the moment as much of the high quality stock has slowly been occupied over the last few years.  With little or no new development on the immediate horizon there is becoming a severe shortage of well presented high quality space. 

Occupiers that are moving are tending to look for quality or an upgrade in the quality of space whilst capitalising on the current market conditions to not increase or minimise the income in rent paid on their new space.  

This means that in order for landlords to maximise performance of their offices a refurbishment in many cases is a must.  This work should also be carried out if possible when bringing the space to the market as it is not always easy for potential tenants to visualise finished space so they will often opt for an office that is finished and ready to go.”  

Presentation is everything – don’t give a potential occupier a reason to look elsewhere!  

Latest news

It would be easy to think that the predominantly Commercial entity of FHP do not work closely with their colleagues at FHP Living who are based in the City Centre and West Bridgford. This however would be far from the truth!

A recent example of the two working well together is at Astlie Court, Hucknall Road, Nottingham.  Here, Alastair Fearn of FHP was instructed by the administrators of Aston Leslie Developments Ltd to sell an 8 apartment residential development known as Astlie Court.  At the time of instruction 7 out of the 8 apartments were let with an estimated rental value of £51,000 pa.

Shortly after instruction however a number of tenants, for a variety reasons, served notice to vacate and so this income producing residential investment was starting to look somewhat less attractive without any income!

Alastair Fearn of FHP said:-

“With a number of the apartments becoming vacant the investment was going to become increasingly difficult to sell.  It was important for us to be able to re-let the vacant apartments as soon as possible to not only maintain income but to illustrate to investors that when the apartments became vacant in the future, that tenants can be found.

We therefore advised the administrators that our sister company FHP Living, who are residential letting specialists, should be instructed to find replacing tenants.”

Following the instruction of FHP Living, 6 apartments were let in the space of 3 months ensuring that the income stream was protected.

Jonty Green of FHP Living added:-

“With the correct presentation and marketing we have been able to achieve 6 lettings in a short space of time.  There is a fair amount of competition in this market and it was imperative therefore that the apartments were presented in the best way they could be and once a suitable tenant was found, we were able to have all legal documentation agreed straight away at no extra cost.

Within 1 week of completion of the sale we have also been able to let the last apartment for the new purchaser to ensure that the development is now fully let.”

The development has now been sold by Alastair Fearn of FHP.  Alastair added:-

“When we were instructed by Cooper Parry, the administrators of Aston Leslie Developments Ltd, our objectives were to effect a relatively speedy sale at a market level and also maintain income throughout.  With the help of FHP Living, we have been able to achieve these objectives.

We are also now retained by the purchaser to seek similar opportunities within Nottingham and surrounds”

For further information on this transaction or other opportunities please contact Alastair Fearn of FHP or Jonty Green of FHP Living.

Cooper Parry acted as the administrators for Aston Leslie Developments Ltd and the purchaser was a private individual.

 

Latest news

Acting on behalf of long term investor clients, FHP have been instructed to market jointly with CBRE a superbly located warehouse just off the M1 at Junction 28 of the Motorway. 

Sitting adjoining the A38, formerly occupied by NYK Logistics, the building offers a prime position within yards of Junction 28 of the M1. 

With the benefit of a large yard, separate car park and extensive dock level doors plus level access doors too, the building also benefits from two storey fitted offices. 

Offering well presented, cost effective space, the property will hopefully plug a gap in the market locally for space of this size. 

Tim Gilbertson of FHP who is dealing with the marketing commented: 

“Buildings of this size are few and far between in the market at present.  To have over 100,000ft² of space set literally within seconds of the M1 is rare indeed and that fact, coupled with good presentation, a large yard and extensive delivery doors means that hopefully the building will be well received and interest will be strong. 

In addition to these attractions, our client is prepared to offer a flexible lease and by approaching some parties known to be in the market already prior to formal marketing commencing we already have tentative interest.  

Hopefully this will develop quickly and therefore if any parties are keen to take a look at this rare visitor to the market then I would urge them to contact me as soon as possible”. 

For further information please contact Tim Gilbertson at FHP on 0115 9507577.

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FHP Property Consultants have secured the letting Unit 2, County Business Park close to the Notts County ground in Nottingham City Centre. The property has been let on a new 10 year lease to Yesss Electrical to Provide an electrical trade counter on the site. Yesss Electrical are now in the process of undertaking their shop fit out with a view to being operational early in the new year.

Yesss Electrical have recently acquired a number of properties throughout the UK and will soon become a familiar brand within the electrical wholesales market. The Company are currently planning to open more than 80 sales counters in the UK over the next 12 months and are set to open more than 200 in the coming years.

George Shread of Clarke Holdings, the Landlords commented:-

“After considerable interest in Unit 2 Mark Tomlinson of FHP has successfully let the property to Yesss Electricial Clarke Holding’s preferred choice of tenant. Yesss Electricals’  commitment to the extensive fit out can only assure Clarke Holdings that the future prospects of the site and County Business Park can only be enhanced by a quality tenant such as this.”

Mark Tomlinson, Surveyor at FHP Property Consultants who acted on behalf of the landlord in the deal commented:-

“I am delighted to have achieved this letting to such a strong operator. There are already a number of trade counter operators on site, selling a range of goods and Yesss Electrical will certainly add to the trade offer in the area. This property has good prominence as well as being a familiar location close to Nottingham City Centre just a stone’s throw away from Notts County ground.”

He added:-

“We now have one remaining unit on site with similar prominence which could suit an alternative trade user well with the added bonus of being opposite Yesss Electrical who will inevitably bring in many customers to the area.”

Jim Hewitt of Yesss Electrical commented:-

“We are delighted to be opening soon in Nottingham so we can bring our exciting electrical supply business to the market place. The size of the building gives us scope to build the most exciting sales counter in the city and easily carry our 6000 stock lines worth £250,000. The site offers superb access from all areas of Nottingham and is situated close to the city centre so fulfils our requirements to serve all trade and retail customers. FHP and the landlord handled our agreement very smoothly and made it very easy for us to bring our business to Nottingham”.

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Acting on behalf of Ultimate Estates FHP have been instructed to market the Harvester Restaurant in Castle Marina, Nottingham.

The Harvester sits alongside McDonalds in Castle Marina which is Nottingham’s prime mixed use leisure and retail development on the fringe of the Nottingham City Centre.

The unit is let on a 25 year lease with a 15 year break clause with rent reviews RPI linked…..

For further information contact John Proctor at FHP on 0115 950 7577

 

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Acting on behalf of Wilson Bowden Developments FHP are offering Building 4c Blenheim Park. The 25,437ft² 2007 built warehouse sits on their 33 acre development.

The asking price of £1,366,000 reflects a net initial yield of 10% on a capital value of £54 per ft²

Falcon Panel Products (the Tenant) have posted robust financial results during the economic downturn.

John Proctor, acting on behalf of WBD, confirmed:-

“Whilst the unit only has 5.5 years remaining on the lease I can see the reason as to why somebody should buy this property as the property can be bought for a lower capital value than we would achieve if we were to sell the property with vacant possession”.

For further information contact John Proctor at FHP on 0115 950 7577

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Acting on behalf of The Noble Organisation, FHP are delighted to announce the recent instruction to market Bar Ten at No.10 Wardwick Derby.

The property sits prominently between Revolution and Revolicion De Cuba and is based over four floors extending to: 583.55² (6,281ft²)
 And is available by way of a sub-letting expiring June 2019.

George Dunnicliff, surveyor at FHP Property Consultants commented:

“With the Wardwick being the main leisure strip running through Derby city centre we are expecting this property to receive good levels of interest and look forward to reporting some good news on this opportunity shortly.”

Should you require any further information or would like to view this property or any other leisure/retail property within Derby City Centre please do not hesitate to contact George Dunnicliff on 01332 224851 or george@fhp.co.uk.

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If you go down to the woods in Nottinghamshire today you’re in for a big surprise – they’ve been transformed into a sustainable home for business. The wood in question is Ransom Wood on the outskirts of Mansfield, which was once home to a hospital but has now been turned into one of the best-kept commercial property secrets in North Notts.

Ransom Wood Business Park is now home to a number of private and public sector organisations, who have taken advantage of a site which blends a countryside setting with state-of-the-art facilities and close proximity to major road networks. It has been developed under the guidance of the Cannon family, well-known in North Notts for their associations with Mansfield Sand but now devoted to the long-term growth of Ransom Wood.

James Cannon, MD of Ransom Wood Estates says that though the concept appears different to conventional business parks, it is grounded in a site which started with a number of inbuilt advantages. “It had buildings and a fully-developed infrastructure already on site because of its previous use,” he said. “What we have done is use those as the basis for our concept, which is that of a sustainable business location which is, in some ways, ahead of its time.

“We have refurbished existing property, developed new buildings and new facilities and we are now more than 80 per cent full at this stage of development. This has given us a strong community of organisations and businesses – but there is clearly potential for more. We have certainly got some ambitious targets for what this site can achieve for its tenants and as a sustainable site which sets new standards for its relationship with the environment, but the bottom line is that it works as a commercial location.”

The park, which is being marketed by surveyor Laura West from the Nottingham property consultancy FHP, is already home to a number of NHS organisations, a college’s admin nerve centre, specialist engineering businesses, marketing and media companies, a furnishing business, and IT and consulting companies.

Between them, Ransom Wood Business Park’s occupiers employ around 800 people across more than a dozen buildings.

It covers some 70 acres, has on-site support staff available round-the-clock and also features an on-site restaurant and conference centre in the shape of Forever Green, a standalone building which means businesses do not need to leave the site to entertain or hold meetings. Though a substantial amount of the site’s current space is fully occupied, its size means there is still a range of space available, from small units which would suit young businesses in their early stages through to new, open-plan offices with woodland views. Some are in refurbished buildings, others in new developments like The Willows.

Laura West said: “Ransom Wood is a genuinely unique location and that’s something you can’t say about so many business parks. The setting really is stunning – rural, quiet and beautifully managed, yet it’s right next to the Mansfield-Ashfield Regeneration Route, a road which links you to both the A1, the A38 and the M1. That puts a massive market on your doorstep.

“It also has some built-in advantages, with an infrastructure that has made it easy to deliver state-of-the-art services and an on-site restaurant where you can take clients and even hold meetings and conferences. In the Cannon family it also has an incredibly committed landlord. Ransom Wood simply wouldn’t be what it is without their vision and their passion for developing a site which is green in every sense of the word but still makes sense as a place to put your business.”

She says that one of the main reasons that businesses have chosen to come to Ransom Wood is the environment and the site’s self-contained convenience: “This is business with nature and that is just not available elsewhere. But it’s also practical – it’s easy to reach, you don’t have problems parking on site and all the facilities are here.”

Charles Cannon, a director of Ransom Wood Estates, added: “Environment can sometimes be a hard-sell for business, but not here – it comes built-in. We’re committed to meeting high environmental standards and we have a number of long-term ambitions to make the site sustainable – we’re even looking at ways of generating energy on site. We believe the environment is important here in another sense and that is in providing people with a great place to work. This is business, but it’s also business with nature.”

 ENDS

For further information contact Laura West at FHP on 0115 950 7577

 

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One of the most experienced developers of industrial sites for growing businesses has begun work on a new site in a prime location on the Derbyshire-Nottinghamshire border.

PMW Properties, the development firm run by the former textile entrepreneur Mike Wrigley, is transforming a former plastics factory less than a mile from Junction 28 of the M1 into a range of industrial units designed to suit businesses looking to make room for expansion or take their first steps on to a prime site.

It is the latest in a series of developments by PMW around the Derbyshire-Nottinghamshire border, which have proved extremely popular with small to medium-sized businesses looking for wellconnected locations in which to expand. Now known as West 28, the latest site is on the longestablished Clover Nook Industrial Estate and offers direct access to the Midlands main strategic road network through a location right next to the A38.

The site comprises four units totalling 74,000 square feet of space, the units ranging in size from 7,500 to 40,000 sq ft. They can be bought or rented on flexible terms, include office space and will be suitable for a range of uses looking for a modern, professional location which has fast access to the key eastwest and north-south road networks.

It is a rare opportunity to rent or buy high-quality space in a market where the lack of new build industrial space has meant well-located premises are few and far between, says Mike Wrigley. “This is a market where you really do have to move fast, all the way from developers securing opportunities with good potential to occupiers finding the right site.

“The area around Junction 28 is, if anything, even more competitive because there are so many small to medium-sized businesses who have been holding back during the downturn but are desperate to expand. We have developed sites on both sides of Junction 28 and they have done remarkably well, despite the downturn. That is testimony to the underlying strength of the local economy.”

West 28 is being jointly marketed by Laura West, of the Nottingham property consultancy FHP and Sean Bremner, of the Nottingham office of Lambert Smith Hampton. Laura West, who has acted for Mike Wrigley on a number of other developments, says she is expecting strong interest in the new development.

“This is one of the largest sites to have come on to the market for sometime, and all the signs are that the space is going to be snapped up pretty quickly. It ticks all the boxes in terms of location, size and quality and the fact that it is being developed under the PMW banner gives it considerable added credibility.

“We are regularly being contacted by businesses who need to expand but just can’t find the space because so little new build is coming on the market. I think they’re going to sit up and take notice when they see that it’s PMW developing West 28 because they know it will be a sensible, high quality refurbishment which brings space to the market which is pretty much plug and go. We have hardly started marketing yet the inquiries have already started.”

Sean Bremner added: “What few people realise is that the East Midlands economy has remained remarkably strong during the downturn, with global manufacturers and their associated supply chains keeping regional business ticking over at a healthy level.

“That has filtered down to SME territory, where there is a tradition in Derbyshire and Nottinghamshire of well-run privately-owned firms who always operate within their means. The result is a surprisingly high demand for good quality industrial space, especially in locations which link up to the A38 and M1. West 28 is an excellent site and we think the flexible terms are going to prove very attractive to a wide range of potentials occupiers.”

ENDS

For further information contact Laura West at FHP on 0115 950 7577

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FHP acting on behalf of Skelton Developments Ltd have completed the sale of a residential site in Carrington, Nottingham to Ideal Care Homes for a new care home.

The site is located close to a Lidl supermarket at the junctions of Hucknall Road and Mansfield Road.  It comprises 0.83 acres and has been sold for £457,500.

Ideal Care Homes are part of the LNT Group of Companies who have developed over 60 care homes throughout the country.  Ideal Care Homes have obtained a planning consent for the construction of a 64 bed care home and have now started construction work on site.

David Hargreaves of FHP, who dealt with the sale, commented:-

Ideal Care Homes have been active in the market over the past few years and have benefited from the decline in the residential market enabling them to bid competitively for sites that were previously unviable.”

Nick Broadbent, Acquisitions Director at Ideal Care Homes commented:-

“Carrington is the latest acquisition within Nottinghamshire following sites acquired in Mansfield, Sutton in Ashfield, Arnold and St Anns.  We have active requirements for further sites throughout Nottinghamshire, Derbyshire, Leicestershire and Lincolnshire.”

 

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FHP Property Consultants are have confirm that Network expert Layer 3 has moved to No.1 Nottingham Science Park as part of growth plans.

The company has signed a five-year lease with Blueprint, developers of the iconic University Boulevard building.

Layer 3 recently increased the size of its team from five to nine and is now set to increase its workforce again within 12 months.

Only one suite remains unoccupied in the building, which is the centrepiece of Blueprint’s 12-acre Science Park extension.

Layer 3, which has leased 1,750 square feet, was attracted to its new location by the architectural design of the building, its Grade A office specification, and its ultra-fast fibre broadband connectivity.

Steve D’Arcy, Layer 3 Commercial Director, said:

“This is a much larger space, perfect for our growing business, and a landmark building. It looks good, it is in a great location and it has generated a great vibe for our business. The offices are visually appealing, which creates a positive atmosphere that our customers will love, and there was a good deal on the broadband too, which is an extra bonus.”

He added:

“There is a real sense of community among the tenants here, and it is great to be working alongside like-minded people, and I am already looking into doing some business with one of my neighbours.”

James Hartley of Property consultants FHP added:

“Having been involved with the sciene park for a number of years it is great to see the building evovling in terms of its tenant mix and the interacton between the companies that all seem to thrive together.

I think this letting to Layer 3 will be the latest example of this within the building and I am convinced that we will see them grow and develop during their time in the building.”

Blueprint Development Director, John Long, said:

“We’ve worked hard at Nottingham Science Park to develop a community of genuinely leading edge innovators – some of the best in the region. This latest letting to Layer 3 is good for the park, but more importantly it’s good for Nottingham. These businesses are creating sustainable and high quality jobs.”

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Godwin Developments LLP has purchased a 4.3 acre residential development site in Alexandra Park in Nottingham, in a deal secured by FHP Living, acting on behalf of Hazelton Homes.

The prime residential development site in an established and sought after location on the fringe of the city and Hazelton Homes secured a detailed planning consent for an exclusive and contemporary scheme comprising 15 luxury four and five bedroom homes. 

Guy Phoenix of GuyPhoenix.Com is Godwin’s joint venture development partner and will be managing the build programme.  Stephen Pratt director of Godwin Developments said: “Guy’s expertise in the elite homes market will ensure that this is an exceptional and stunning development of superior quality and finish.  In fact, having started on site at the beginning of October, the development already has strong interest from a number of parties and the agents are formulating a waiting list.”       

Alexandra Park is synonymous with Edwardian and Victorian properties, however the development will offer the market something very different in the form of modern and stylish elegant detached homes situated within a mature and secluded landscaped environment, with its own ecological nature reserve. 

Ann Taylor associate director at FHP Living said: “It is a complicated site due to the geography of the area which although challenging, also enhances the attractiveness of the proposed development.  The team at Godwin Developments and Guy Phoenix both undertook a significant amount of due diligence and were able to complete on a strong offer within a short timeframe.  Everyone involved in this transaction is excited by the prospect of this niche development and the new partnership forged between Godwin and Guy.”

Stephen Pratt added: “We had identified this as a development which would require real expertise to develop but the end results would be very rewarding, both in terms of the final development’s quality and design.  We are already on site and making great progress, with the show home plus two five bedroom houses available for release in February 2013.” 

Tom Hazelton Director of Hazleton Homes commented: “We are very happy with the way this sale progressed and will wait with equal anticipation and excitement to see how this development unfolds.”   

The development is strictly by appointment only so for further information please contact Ann Taylor.

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Diamond Interiors, a local fit out company, are the latest tenants to take space on the increasingly popular Enterprise Park Industrial Estate in Hucknall. This move marks a substantial expansion for Diamond Interiors following a positive increase in contract work.

Mark Tomlinson, Surveyor at FHP Property Consultants commented:-

“Following active asset management of the site the site has gone from 35% occupied to 70% occupied in the space of 2 years with 12 new occupiers welcomed onto the estate taking over 31,000 sq ft of space. Local companies have been quick to take up the flexible lease terms on offer, something of paramount importance to small businesses at this time considering the continued nervousness in the market.”

“We still have a number of units available from 1,200 sq ft up to 2,000 sq ft and we are due to get another round of internal refurbishments underway in order to present these to the market.”

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