FHP Property Consultants are delighted to announce the letting of Unit 7 Little Tennis Street in the Colwick area of Nottingham City Centre to Alan Tully Cars, a local car sales company having been established in the area for some 15 years.

The unit will be used for storage of cars in conjunction with Alan Tully Cars online sales business which is seeing increasing levels of activity.

Mark Tomlinson of FHP Property Consultants commented: –

This letting is further proof of a large increase in activity among the local market in Nottingham City Centre.  We have especially seen an increase in activity in Colwick having concluded 7 transactions in this area alone over the last 4 months.  We are now seeing a real lack of supply of good quality options for local companies in the area with the majority of available stock now being more secondary.”

Latest news

A CLOTHING brand committed to a “made in the Midlands” ethos and a fairtrade gift company are the two winners of Inspiring Retail Nottingham 2013 – and received their prizes at a glittering ceremony in the city last night.

Katie Lee-Wall and Laurence Bidston of local clothing brand Poppy Blow were celebrating their win of the under 30s category of Inspiring Retail last night along with Ele Corriette who runs Elefair which sells handmade fairly traded giftware.

The winners were whittled down from 49 applicants, which were then shortlisted to ten – five in the under 30 category and five in the over 30 category of the Inspiring Retail competition which set out to find two new shop owners for the city centre. The winners will each receive £10,000 in funding and thousands of pounds in support from top business experts in Nottingham.

The Inspiring Retail Nottingham 2013 initiative has been funded through the High Street Innovation Fund which was given to a number of UK towns and cities following retail guru Mary Portas’s review of town centres.  To complement a package of other projects, Nottingham wanted to come up with a really innovative way of spending some of the grant – and came up with the Inspiring Retail Nottingham competition.

Katie Lee-Wall of Poppy Blow, winner of the under 30s category, said: “We’re completely over the moon. There were some amazing ideas from all the contestants and the competition was fierce, so we never dreamed we’d actually win. Winning has made our lives so much easier – we’re now able to complete our website and finish doing up the shop, which will open in March. We’ll also have a second store (thanks to FHP) opening next September.”

Inspiring Retail is an ingenious collaboration of Nottingham City Council, NBV Enterprise Solutions and five private sector organisations. The final ten were put through their paces before retail ‘dragons’ when they had to pitch their business ideas.

David Hargreaves of FHP who helped launch the competition said: “We are delighted for Poppy Blow and Elefair. Both companies demonstrated flair and creativity – and sustainable business ideas.

“We will be helping the winners to find retail units in the city – and then our experts will be guiding them through other aspects of their businesses, from their branding and PR, to legal and financial advice.”

Helen Andrews from Nottingham design agency RizkMcCay is on the expert panel and was a ‘dragon’ on pitch day.  She said: “We had a fantastic collection of applicants. It was very difficult to shortlist just ten from such an impressive line up of potential retailers – and especially difficult to pick just two winners.”

As well as the funding for set up costs and stock, the two winners will gain insightful help and advice from the panel of private sector sponsors: Yorkshire Bank will be offering financial advice, property consultants FHP will source a suitable retail unit in Nottingham city centre for each retailer,  law firm Fraser Brown will be assisting with legal issues and HR, accountancy and tax advices will come from Smith Cooper, and marketing and creative agency Rizk McCay and PR agency Cartwright Communications will offer PR and marketing support.

Ele Coriette of Elefair, winner of the over 30s category, said: “I’m absolutely delighted to have won. I never thought it would be me. I already trade in the Market Square and have a pop-up shop in the Lace Market, but now I can open a permanent store in the city centre, with first-rate support from the dragons. I’m really excited to see what lies ahead.” 

The final ten applicants were at the presentation last night held at Nottingham Trent University.  The eight which missed out included a shop for doggy treats and accessories, a cafe with barber shop and menswear, an artisan baker and a specialist knitting shop. There are hopes that Inspiring Retail Nottingham will be back again in 2014.

Councillor Nick McDonald, portfolio holder for jobs and growth at the city council which is leading the competition, said: “This was a truly unique and exciting collaboration between the city and private sector partners who are all passionate about helping new businesses – and breathing new life into Nottingham’s shopping streets.

“Nottingham has always been a leading UK shopping destination and we are inviting two up-and-coming retailers to become part of this. We were one of the councils which received what has been called ‘Portas funds’ – government money which aims to help boost retail centres. We are allocating a portion of this money to help launch the ventures of two local retailers.”

Additional supporters of Inspiring Retail are the Derbyshire and Nottinghamshire Chamber of Commerce, Nottingham Trent University, the Nottingham BID and media partner Nottingham Post.

The winners will also get the panel’s support – worth an estimated £50,000 – for 12 months.

David Hargreaves added: “We have been talking about a dragons-style competition for budding retailers at FHP for the past two to three years. The funding Nottingham City Council secured via the Mary Portas initiative to tackle the increased vacancy rates in our towns and cities provided the opportunity. What this competition has proved is that there are people out there with fantastic ideas for retail units.”

ENDS

For more information, contact Liz Cartwright or Jennie Holland on 0115 8532110 or 07769 713919.

Latest news

FHP have been appointed by Property Alliance Group in conjunction with Lambert Smith Hampton to market prime warehouse or production space on Blenheim Industrial Estate.

Set just off Junction 26 of the M1 Motorway this superb building offers high calibre two storey offices interlinking with fully fitted production space all set on a large site with yard and car parking.

Immediately available on a new lease, or potentially with the option to sell the long leasehold interest the building extends to approximately 38,000ft² plus extensive mezzanine of just over 8,000ft².

Given the lack of supply in the market and the increased activity being felt in this sector, strong interest is anticipated.

Latest news

INDEPENDENT traders will bring new life to West Bridgford’s Central Avenue Christmas shopping experience – thanks to an early ‘gift’ from property consultants FHP and FHP Living.

Local retailers will be taking space in a pop-up shop within a prominent vacant retail premises. David Holmes shoe store had been a mainstay of the area’s retail offering for 45 years before it closed down earlier this summer .

The property is owned by the founders of FHP Property Consultants – Brian Fisher, David Hargreaves and John Proctor. The property has been marketed by FHP and is now under offer, but because it won’t be needed until the new year,

David came up with the idea of handing over the empty shop for free to local independent traders for Christmas.

FHP joined forces with West Bridgford’s Totally Locally initiative to bring the shop back to life for the prime festive shopping period and improve the shopping experience of West Bridgford

So far, 40 people have signed up to take space in the store which will open its doors to shoppers on Thursday, November 21 and continue trading right up until Christmas Eve.

David, founding director of FHP and estate agency FHP Living in West Bridgford, said: “The store is a perfect  location for this sort of initiative being in the Prime pitch  and large ,and the uptake so far shows that local businesses share that view.

“We are keen to support all those working hard to improve the “offer ” of West Bridgford  like Karina Wells and Mike Finn at Totally Locally and this shop and idea provides a great opportunity for both new and existing businesses to promote and develop their businesses,over the festive period and beyond ,from a prime location that normally they wouldn’t have access to .

“In  many ways there has never been a better time  for people to make the move to set up a retail business and the pop-up shop gives them an affordable opportunity to test the water and decided whether to take the next step.”

Mike Finn is one of the people behind the Totally Locally initiative which has been running for two years in West Bridgford.

“Totally Locally is all about empowering local communities, investing in and reviving them and encouraging independent local businesses,” Mike said.

“The idea behind initiatives like the pop-up shop is to make traders and retailers think about what they want from their business, what it is that they are offering, their brand and how to move their business forward.”

Already booked to take space in the temporary shop are a wide range of crafts people, an author, wedding cake makers, jewellers, an artist, dress maker and care company.

For those wanting to take time out to relax from the rush for festive bargains there will also be a pop-up spa offering the chance to sample a number of health and beauty treatments and even a brewery which has gained a temporary licence to sell its beers.

“This really is a once in a lifetime opportunity for these people to have access to such an excellent high street outlet,” Mike added.

“It will be open in time for Saturday’s Christmas lights switch-on which last year attracted 10,000 people and we estimate that between 20-30,000 people will pass the store over the course of its trading period which is huge exposure for those taking part.”

Mike said FHP had provided a unique opportunity for traders. “FHP who already invest in the Local Community through their FHPLiving brand ,is showing it is happy to invest  further in support of the local community by giving people a chance to promote and grow their business, and hopefully make a profit .

“It is a fabulous gift to the local community offering businesses and traders the space that if we had to pay for it would have cost us £10,000.”

Mike pointed out that it was not only start-up businesses that would benefit with some existing businesses taking space in the pop-up store to highlight their offering and signpost potential customers to their existing premises nearby.

Those taking part will pay a one-off fee of up to £200 depending on how much space they occupy but all will be encouraged to embrace the spirit of Totally Locally by sourcing materials they might need from other local, independent traders.

Young Enterprise groups from local schools will also be selling their products in the store which will be managed by Suzy Reeveley of Honest Inks.

The emphasis will be on high quality offerings, a point which has been stressed to all those taking space. “We are stressing the need for people to use this space as creatively as possible to gain the maximum impact,” Mike said.

FHP is a big supporter of small retailers, having been involved in setting up the city-wide Inspiring Retail Nottingham 2013 competition – which is seeking to find two exciting new retailers to open shops in the City Centre .FHP not only supports small retailers, but is advising on the £200 million refurbishment and redevelopment of Intu Victoria Centre and intu Broadmarsh Centre in Nottingham.

 Ends

For more information, contact Liz Cartwright or Kiren Pooni on 0115 8532110 or 07769 713919.

Caption:

L to R Iwona Gerber from Living HQ; Mel Wilson from Heidi’s Furnishings; Karina Wells from Totally Locally; David Hargreaves from FHP;  Suzanne Reeveley and Mike Finn from Totally Locally and Phil Wilson of Heidi’s

 

Latest news

A deli for dogs, a bookshop with café and an upmarket knitting shop…these are just some of the candidates who went before Nottingham ‘dragons’ this week  – to try and win £10,000 in funding to launch their retail businesses.

There were ten finalists in the city-wide competition called Inspiring Retail Nottingham 2013. They had been whittled down from 49 applicants overall and this week, city business bosses or ‘dragons’ selected the winning two.

Inspiring Retail is an ingenious collaboration of Nottingham City Council, NBV Enterprise Solutions and five private sector organisations – Yorkshire Bank, property consultants FHP, law firm Fraser Brown, accountants Smith Cooper, creative agency RizkMcCay and PR agency Cartwright Communications.

The unique initiative was launched in the summer and was designed to help new retail talent turn promising ideas into reality.

David Hargreaves of FHP said: “The judging panel was bowled over with the number of amazing ideas for new retail outlets in the city. It was a difficult task but we had to find the two winners this week – one in the age 30 and under category and one in the over 30 category.”

The competition was set up as Nottingham wanted to produce a creative scheme in spending some of the grant awarded as part of the High Street Innovation Fund, which was distributed to towns and cities following retail expert, Mary Portas’s, review of town centres.

As well as the £10,000 prize, the winners will also get the panel’s support- worth an estimated £50,000- for 12 months. Out of the ten finalists, the two winners have been picked for their ambition and motivation to develop a sustainable and innovative business, which will add value to the city centre offer. 

The two winners of the competition will be revealed at a special ceremony at Nottingham Trent University next week (26 Nov).

Councillor Nick McDonald of the city council, said: ‘’This is a truly unique and exciting collaboration between the city and the private sector partners who are all passionate about helping new businesses – and breathing new life into Nottingham’s shopping streets.’’

The Inspiring Retail competition has also gained additional supporters; with Derbyshire and Nottinghamshire Chamber of Commerce, Nottingham Trent University, the Nottingham BID and media partner the Nottingham Post backing Inspiring Retail.

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Latest news

On behalf of Beeston Road Limited, Frankie Labbate, a Surveyor at FHP Property Consultants has let 63-65 High Road, Beeston to The Salvation Army.

The Salvation Army have been in Beeston for a number of years now and have been looking to relocate from their existing store within The Square Shopping Centre for the last 18 months.  The opening of this branch in a more prominent and busy location clearly highlights their ambition of cementing themselves into the primer pitches in suburban town such as Beeston.

Frankie Labbate of FHP commented:

I am delighted to secure such a strong covenant for my client and for Beeston as a whole.  I have no doubt that this new space will be a success for them and make their stay within Beeston more sustainable moving forwards.

There was a high level of interest in this property but I felt that The Salvation Army would be the best candidate taking into account their loyal customer base already being present within the town. 

The Salvation Army have completed their fit out, commenced trading and have been very busy already.  Hopefully this letting, accompanied by the letting to 70 High Road to CEX will send a signal to other retails that Beeston is going through the process of revival.”

For further information with respect to this letting or for marketing advice, please contact Frankie Labbate of FHP Property Consultants on 07917 576 251 or frankie@fhp.co.uk.

Latest news

Following the recent lettings to Addvance PR and Penguin IT in October, FHP Property Consultants are delighted to announce a further trio of lettings at Derwent Business Centre to Legend Studio, Corolus Business IT Solutions and AT Creative. 

The former Victorian Railway bonded warehouse which has been converted into offices and studios, welcomes the three companies into Suites 15, 23 and 36. 

Legend Studios, who specialise in fantasy photograph and customized children’s photo storybooks have taken a 3 year lease at suite 15 at the business centre extending to 281ft². 

Suite 23, extending to 750ft² has been let on a 3 year lease to Corolus Business IT Solutions, a professional IT company who have been established for 12 years providing their clients, IT Support and Software and Web Development. 

AT Creative, Creative Design Studio have also taken a 3 year lease at Suite 36 at the Business Centre.  Originally based in West London, AT Creative design cutting edge marketing products that offer industries the ability to present themselves in unique, effective and memorable ways. 

George Dunnicliff, surveyor at FHP who agreed the deals commented:- 

“I am extremely delighted to be able to report further lettings here at the Derwent Business Centre whereby the take up of space is doing very well.  I wish Legend Studios, Corolus and AT Creative the best of luck for the future”. 

For further information on these lettings or for any other property enquiry please contact George Dunnicliff at FHP Property Consultants on 01332 224851 or george@fhp.co.uk.

Latest news

Mark Tomlinson of FHP Property Consultants has recently secured the letting of a prominent trade counter unit at the front of the former Timber Trade Centre on Daleside Road to Trent Electrical Supplies, an electrical wholesaler expanding their operations in Colwick. 

Mark Tomlinson commented: –

“We sold this site on behalf of the previous owners to Silverdale Coaches who saw the value in this site, which includes two prominent trade counter units as well as circa 40,000ft² of warehousing to the rear.  Both trade counters have let very quickly, the other being let for use as a fireplace show room.

“Trent Electrical secured this property as a result of a competitive bidding process and we were impressed by the business plan which has been outlined to us.  I am confident that, given the prominence of the site, their business will go from strength to strength in this location.”

Simon Peckover, Director of Trent Electrical Supplies commented: –

“Trent Electrical Supplies was set up 3 years ago and has continued to grow rapidly. This new location is perfect for our growing business with it having excellent access, ample parking, an impressive trade counter and larger stores. This move will enable us to provide our customers with increased stock levels and the very best service possible.”

Latest news

FHP Property Consultants are delighted to announce the letting of 14 Regent Street in the professional quarter of Nottingham City Centre to Pathway Care Solutions, a medical and care services business already based on Regent Street.  This is an expansion of their office operations following a positive growth period over the last few years.

Mark Tomlinson from FHP Property Consultants commented: –

“I am delighted to have achieved a letting of this building to such a good quality occupier that compliments this area of the city very well.  The Landlord recently took a view to refurbish this premises to a high standard following the previous tenants vacating, a decision which has proved to be correct given the office market at this time which generally remains difficult.

We have recently concluded a number of transactions within this area of the city.  We were previously marketing 8 properties in this location, we now just have 3 left on the market with a further property let subject to contract.  I am hopeful that our recent success is a sign of increased appetite for opportunities in this area of the city and the realisation among local businesses that high quality buildings in this location are now obtainable”.

Latest news

Acting on behalf of private clients, FHP Property Consultants are delighted to announce the recent instruction of 12 Market Place, Derby.

The former Saks Hairdressers extends over four floors totalling 197.54m² (2,126ft²) 

And is available by way of a new full repairing and insuring lease at a rent of:- 

£20,000 per annum 

The property is situated on the busy pedestrianised area of the Market Place and also located in the Cathedral Quarter Business Improvement District (BID) with nearby occupiers including; George Brigdens, Nandos, Walkabout Bar, Greggs, Lloyds TSB and Natwest Bank. 

George Dunnicliff, Surveyor at FHP Property Consultants commented:- 

“I am delighted to welcome this property to the market with FHP. Situated in the heart of the city centre I believe this property will attract an influx of interest and I look forward to announcing that a letting has been secured shortly.” 

For further information on this instruction or any other retail property please contact George Dunnicliff on 01332 343222 or George@fhp.co.uk.

 

Latest news

Frankie Labbate, a Surveyor at FHP Property Consultants has let 70 High Road, Beeston, Nottingham acting on behalf of a private individual to CEX.

CEX have circa 250 branches in the UK, Spain, USA, India and Australia and are continuing to expand their popular brand.  Their move into Beeston is a long anticipated one which they have been waiting for the right unit for some time.  The opening of this branch in such a prominent location clearly highlights the demand from retailers for the town.  The opening of this store clearly illustrates their intent on not only dominating the market in prime city centres but also in prime suburban shopping districts throughout the UK. 

Frankie Labbate of FHP commented:

I am delighted to secure CEX on competitive terms.  I have no doubt that the mixture of students, young professionals and families within the area will provide a strong demand for CEX services and that their business will prosper as a result of the high demand and lack of supply for quality electronic products within the vicinity.

There are live requirements for Beeston from CEX competitors but CEX have certainly won the race to secure a prime position within the town. 

CEX have commenced their fit out and I have no doubt that they will have every success in this location.  Furthermore, I have no doubt their new store will be well utilised and sustainable in years to come.  Hopefully, the letting to this national covenant will encourage other retailers who have been reluctant to commit to the high street in the past 12 months due to the anticipated development of The Square Shopping Centre”.

For further information with respect to this letting or for marketing advice, please contact Frankie Labbate of FHP Property Consultants on 07917 576 251 or frankie@fhp.co.uk.

Latest news

AN AWARD-WINNING restaurant chain famous for its Spanish tapas is the latest arrival in Derby’s prestigious Cathedral Quarter. 

Iberico World Tapas will open next month in premises on Bold Lane, bringing a new, upmarket dining experience to the city. 

Run by restaurant entrepreneur Dan Lindsay, Iberico offers a menu which blends a Spanish theme with dishes from Europe and Asia. 

Iberico opened its first branch in 2007 and has since won a host of awards, including a prestigious Bib Gourmand from Michelin – awarded to restaurants which deliver Michelin quality without a wallet-crunching bill. 

The deal to bring Iberico to Derby has been negotiated by George Dunnicliff, a surveyor with the Derby office of property consultancy FHP. He says the letting is further evidence of the way in which the city’s restaurant and leisure scene is gaining ground. 

He commented: “Iberico is a real coup for Derby. It is an upmarket restaurant with a very distinctive atmosphere, and it’s run by people who have a great track record for high quality dining experiences. 

“They have had their eye on Derby for some time, which tells you everything you need to know about the vibrancy of the city centre. Bold Lane is perfect for them – they will be operating from a character building in the Cathedral Quarter and the parking facilities nearby are very convenient for customers.” 

Iberico World Tapas opened its first restaurant in Nottingham in 2007 in caves under the Galleries of Justice building. It won immediate praise for its stylish atmosphere and distinctive menu, and has since won a number of awards. 

The Bib Gourmand – which recognises good food at a moderate price – was awarded for 2013, and puts Iberico on the same level as the famous chef Rick Stein’s cafe in Padstow, Cornwall. 

Iberico has signed a 10-year lease on the premises formerly occupied by another restaurant, Mango Tang. Mr Dunnicliff says Derby has great potential for other restaurant and leisure businesses. 

He said: “People have been concerned about the retail industry because it is in a state of transition. Derby’s strength is that in Westfield it has exactly the kind of modern, high quality shopping centre that the major operators look for. 

“We are now seeing signs that the restaurant and leisure sector is taking advantage of the opportunities offered by the character properties elsewhere in the city centre. Indian restaurant Okra opened on Friar Gate recently and has been doing well, now we have Iberico coming to Bold Lane. 

“The Cathedral Quarter Committee and Marketing Derby have been doing an excellent job in putting out a strong message about the potential that the city has. Restaurants and cafes are doing very well here because there is a clear appetite for quality.” 

Dan Lindsay of Iberico said…“We are absolutely delighted to finally being able to open our new restaurant in Derby.  This is a very exciting time for us and we hope to make this new venture a great success.  We contacted FHP as we know they are very active in the Derby retail/leisure market and they turned out to be a great help in locating suitable premises for us”.   

Latest news

FHP acting on behalf of Foster-Gregory Limited have completed the sale of a long leasehold interest to Nottingham City Council, the freeholder.

A premium of £900,000 was paid by Nottingham City Council to acquire the long leasehold interest and merge the 2 interests.

Foster-Gregory held the property on a long lease expiring in 2070.   The ground rent was £22,537 per annum which is reviewable every 35 years.

Foster-Gregory through FHP in turn had under-let the warehouse and office premises to A-Plant on a lease for 15 years, with a break clause in June 2021, at a rent of £130,000 per annum.

FHP represented Foster-Gregory Limited throughout, whilst Nottingham City Council represented themselves.

 

 

Latest news

FHP Property Consultants and FHP Living are pleased to report the sale of approximately 10 acres of grazing land in the popular Nottinghamshire village of Bradmore.

The grazing land is located on the A60 Loughborough Road on the outskirts of Bradmore Village Centre and is ideal for grazing or nature and conservation.

Laura West commented “this site provides an ideal and very exciting equestrian opportunity. Grazing land of this size and nature in such a well-placed location are rare and we expect strong levels of interest in this opportunity”

For further information about this opportunity then please contact Laura West on 07917 460029  or Jules Hunt on 07917 460033.

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Latest news

An engineering firm which has been in business for 95 years has bought one of the buildings it occupies on an industrial estate.

Precision engineering firm Boneham & Turner has acquired the second of the three industrial units it occupies on a site alongside the A38 and only two miles from the M1.

The family-owned business was based in landmark premises on Nottingham Road in Mansfield for many years.

But it moved out of its site to make way for a new supermarket, transferring its business to the Gateway 28 industrial development off Penny Emma Way, Sutton-in-Ashfield.

Boneham & Turner already owned one of the three inter-linked units it occupies at the site but has now bought a second in a deal negotiated on its behalf by Alastair Fearn, of Nottingham property agent FHP.

Peter Boneham, the latest generation of the family to run the business, said:

“When the opportunity arose to acquire unit 2b, we were immediately interested because of our unique position of being a tenant of the property.

“The buildings work for us and we were keen to secure our future at the site. We instructed Alastair Fearn to act on our behalf on the acquisition following the initial valuation advice he provided to us.”

Alastair Fearn of FHP Property Consultants said:

“Boneham & Turner is a long-established and very well-respected business which settled well into a modern location after its move from Mansfield.

“It made sense for it to buy the unit that it had been leasing and the important thing was to make sure that it secured acceptable terms.

“We’ve been involved in numerous industrial property transactions in this area and we were able to use our market knowledge to negotiate effectively and make sure the transaction progressed smoothly.”

Boneham & Turner was founded in 1918 by John Boneham.

Today, it provides a variety of high-quality engineering products to customers worldwide operating in the aerospace, automotive, motor sport, power generation, defence and machine building sectors.

Latest news

Tim Gilbertson, a Director at Nottingham property consultancy FHP, reviews the prospects for the office and industrial property market.

False dawn is an over-used phrase.  But there have been so many of them since the financial crisis pole-axed our economy that it’s no surprise. Since 2010, we seem to have gone through cycles in the commercial property market where promising signs early in the year have been replaced by uncertainty and disappointment.

This year, though, could be different.  Sure enough, 2013 started off on a positive note with a rise in the numbers of people enquiring about moving their businesses into new property and then the market went to sleep again.

But once we got past what seemed like an interminably long Easter, the numbers of people looking to do deals for office and industrial property has slowly but surely increased.  Not only have there been more enquiries, but those enquiries are more serious and they have translated into more deals.

In the wake of all those false dawns, it’s a brave surveyor who calls recovery.  The evidence of economic progress is all around us though.  We’ve seen the GDP figures for the whole of the UK steadily improving and at grassroots level the surveys from the local Chamber of Commerce suggest that sales, profits and order books for businesses in Nottinghamshire and Derbyshire have been getting stronger for months.  Even Forest are riding high in the Championship!

On that basis, we shouldn’t be surprised to see those businesses who put expansion plans on ice in the downturn deciding to dust them off and see what’s out there.  In the market for small to medium-sized industrial property, I and my colleagues at FHP have been handling a steady stream of activity, and there have been some real successes at prominent sites in and around the M1 corridor – notably at Castlewood, near Junction 28 of the M1, and down at Castle Donington.

With no new stock around, good quality second hand buildings are being snapped up quickly when they become vacant.  That tells you the appetite is out there. In fact, demand is running ahead of supply to the point where businesses are snapping up older premises rather than waiting for something new and perfect to come along.

This hints at the reasons why it might still be a while before the market recovers its equilibrium properly.  Nothing new was built during the downturn and to this day the losses banks suffered on property mean you have to make an extremely strong case to fund development and satisfy investors that there will be a return – especially when occupiers will no longer sign very long leases which give building owners security.  So while the evidence of recovery is gathering, the risks of building speculatively and hoping an occupier will appear mean caution is still the watchword.

Where does this leave us?  Well, we haven’t got people beating our door down every week asking if we’ve got a spare 100,000 sq ft on our books, but the building Asda took for a home delivery operation at Bulwell could have been let three times over – so serious demand is out there.  As the increasing evidence of recovery demonstrates, so is the pressure to try to find property solutions for businesses who want to make the most of growth.  One of those solutions may be design-and-build, where a deal is done to develop a new, purpose-built property.  Not only does this mean planning ahead, it means having a sound financial package and the security of a long lease to support it.

Interestingly, it isn’t just distribution warehouses driving demand alongside the M1 corridor.  Much of the interest in the larger properties that are available in Nottinghamshire has come from manufacturing businesses, which is a positive sign for jobs.

We have seen the back of false dawns now.  The next most over-used phrase?  It’s time to stick a spade in the ground!

Latest news

FHP Living have been appointed to sell 110 apartments at Nottingham One in the heart of the City Centre.

The development, which comprises 237 apartments together with 55,000 sq ft of office accommodation and 2 floors of car parking providing 260 car parking spaces, benefits from views over the Lace Market and sits on the banks of the Canal.

David Hargreaves, a Director of FHP, said: “This £50 million development will be fully complete early in the new year and offers apartments of the highest standard in the very heart of the city centre.  Its waterside location fronting the Canals, supplemented by stunning views of the Lace Market, whilst being within walking distance of the Tram and the train station and the retail and leisure core of the city, making this a one-off development.”

Selling agent Sheryl Grundy of FHP Living said: “We are offering a variety of apartments from studios at £80,000 and 1 bedroom apartments at £90,000, through to 3 bedroom duplex penthouse apartments at £235,000 and even a 4 bedroom duplex penthouse with probably the largest terrace in the City at £500,000.  All the 2, 3 and 4 bedroom apartments benefit from an underground car parking space, whilst access is via a secure entry system.”

Neil Scott of FHP Living said: “Nottingham One has been built to a higher standard than any other apartment scheme in the city centre and with a large amount of glazing in each apartment and higher than average floor to ceiling heights, the effect is the creation of large, airy and spacious apartments which will find favour with owner occupiers and investors alike.” 

He went on to say that with the Government’s “Help to Buy” scheme where purchasers need find just 5% deposit and with mortgage rates at an all time low, an occupier could move into their new home at Nottingham One for approximately £5,000 and find that their monthly running costs including ground rent, service charge and mortgage are 30% less than they would pay in rent.

Selling agent Oliver Marshall of FHP Living said: “As well as being attractive to owner occupiers, Nottingham One offers a fantastic investment opportunity with investors likely to see a return on the cash they invest of at least 8% when deposit accounts are less than 2%.”

David Hargreaves said: “The web site has now “gone live” and we will be holding a number of “Open Evenings” in the weeks running up to Christmas.  We expect significant early interest particularly from first time buyers due to “Help to Buy”.

Anyone interested in taking a look around the 2 show apartments at Nottingham One should contact Oliver Marshall (07917 460028), Sheryl Grundy (07557 285470) or Neil Scott (07917 576255) at FHP Living (www.fhpliving.co.uk). 

 

David Hargreaves

14 October 2013

 

Latest news

Acting on behalf of Commercial Estates Group, FHP Property Consultants are delighted to announce a further letting at Amber Business Centre, Riddings. 

Derbyshire Motorbike School originally based on Monk Road Industrial Estate have relocated and expanded to Unit 13.8 Amber Business Centre extending to 58m² (624ft²). 

The motorbike school offers motorcycle training courses ranging from Basic Introductory Lessons, CBT, help and advice with the Motorcycle Theory Test and motorcycle training to gaining your full motorcycle licence or the Direct Access Scheme. 

George Dunnicliff of FHP Property Consultants commented:- 

“It is pleasing to see yet another completed deal here at Amber Business Centre at Unit 13.8.  Derbyshire Motorbike School is a frequent user of Amber Business Centre for training purposes so therefore it was a natural progression for them to take a small unit when one became available.  I wish the team at Derbyshire Motorbike School all the very best of luck for the future”. 

For further information on this letting or available opportunities at Amber Business Centre please contact George Dunnicliff on 01332 224851 or George@fhp.co.uk.

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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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Acting on behalf of Blue Print, FHP are pleased to announce two recent lettings at Suites 22 and 37 at Derwent Business Centre, Clarke Street, Derby. 

Suite 22, extending to 983ft² has been let on a three year lease to Addvance IT. 

Addvance IT is an independent brokerage and consultancy specialising in delivering contactless payment intelligence to a variety of market sectors. With over 30 years’ IT experience within the Retail and Hospitality sectors they are able to bring market knowledge to their clients and deliver complex solutions in a simple and cost effective manner. 

Suite 37, extending to 304ft² has been let on a three year lease to Penguin PR. 

Penguin PR, is run by two former journalists with 30 years combined experience of working in the media. They have a large client base in the East Midlands with their stories appearing in BBC national radio, Daily Mail, Metro, Daily Telegraph and Have I Got News For You!

George Dunnicliff surveyor at FHP Property Consultants who agreed the deal commented:- 

“I am delighted to report these two recent lettings at Derwent business Centre and I wish both Addvance IT and Penguin PR the best of luck for the future.”

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On behalf of retained clients, FHP are delighted to announce the recent instruction of:- 

Peel House, Brimington Road, Chesterfield 

The property which extends to:- 

388m² (4,175ft²) 

Is available by way of a new full repairing and insuring lease for a term of years to be agreed at a rent of:- 

£30,000 per annum 

The available space which is predominantly open plan with adjoining smaller rooms is currently fitted out as a gym/martial arts studio but has previously been used as offices. 

Should you require any further information on this property or would like to view please do not hesitate to contact George Dunnicliff on 01332 224 851 or george@fhp.co.uk.

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Alan Pearson, Associate Director of FHP Property Consultants and joint letting agent of Westfield Derby is delighted to announce a series of new lettings within the Westfield Shopping Centre. 

Wagamama have joined the growing leisure offer within the scheme taking a new 3,439ft² unit adjacent to Eat Central and the entrance into the 12 screen Cinema-de-Lux.  Wagamama are due to open in November 2013.

Ed’s Easy Diner have taken a prominent corner ground floor unit, this is Ed’s second East Midlands outlet following their opening in Leicester 15 months ago.  Ed’s have taken a unit comprising of 1,915ft², which is due to open in mid November 2013.

Alan Pearson of FHP Property Consultants commented:

“We have sought to enhance and enlarge the leisure offer within the scheme with the success of the Eat Central concept and adjoining family dining restaurants”.

Diechmann have upsized taking a unit opposite their previous location and doubling the size of their store to 7,156 ft².  Their previous store has been let to Ryman Stationers who have relocated from the Burrows Walk entrance into the scheme in to the heart of the shopping centre.

Simply Be and Jacomo, part of the N Brown Group are due to open prior to Christmas.  They have taken a unit on the first floor fashion mall comprising of 4,500ft² as a joint fascia outlet.  This will be their second store in the East Midlands following their opening in Leicester 12 months ago. 

N Brown are seeking to grow their Simply Be and Jacamo store portfolio to 25 outlets in the next 12-18 months.

Alan Pearson of FHP commented:

“We are delighted to attract further quality brands into the centre which reinforces the attraction and strength of the scheme.  This is demonstrated by the successful performance of Diechmann, doubling the size of the store.  We are continuing to see good interest in the scheme and look forward to welcoming further quality retail and leisure operators to Westfield Derby in 2014”.

For further information with respect to this letting or for marketing advice, please contact Alan Pearson of FHP Property Consultants on 07876 396 005 or alan@fhp.co.uk.

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Acting on behalf of Scottish Widows, Alan Pearson, Associate Director of FHP Property Consultants, has let 23 Upper Parliament Street to Mobile Solutions.  The accessories and mobile phone repair shop have taken a new ten year lease at a commencing rent of £24,000 per annum exclusive.  The unit comprises of ground floor sales of 407 ft² and basement store of 295 ft².

Mobile Solutions are a London based mobile phone accessories and repair shop who have sought to expand into the Midlands for some time and have secured their first outlet in Nottingham.  The store is situated adjacent to the new Tesco Express store which is scheduled to open in Spring 2014 following completion of the development works by Scottish Widows.

Alan Pearson of FHP commented:

“I am delighted to have secured another letting within the block for Scottish Widows.  There was a considerable amount of interest in this unit with three offers received at the asking rent which enabled us to conclude a deal swiftly for our clients, with completion taking place within four weeks.

There has been considerable interest in Upper Parliament Street, King Street and Queen Street recently and we have put both 18 King Street, the former Jonathan James unit and 15 Queen Street, the former Bank of Scotland unit under offer to national operators and expect to do the same with the former Jack Wills unit on Queen Street imminently.  This follows recent letting by FHP of 22 King Street to Barburitto, 4 King Street to Nottingham Express Transit and 6 King Street to Posh Nails”.

There are few high street opportunities currently available in Nottingham which is a very positive news story for the city.

For further information with respect to this letting or for marketing advice, please contact Alan Pearson of FHP Property Consultants on 07876 396 005 or alan@fhp.co.uk.

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FHP Property Consultants are delighted to announce the letting of an 8,000ft² modern industrial unit in Clipstone on behalf of Newark & Sherwood District Council.  The property has been let to UK Metering, suppliers of high quality metering products throughout the UK. 

Previously based in a unit on Nottingham South & Wilford Industrial Estate the company have taken a unit 4 times that size representing a marked expansion to better accommodate their growth and future growth plans.

Mark Tomlinson of FHP Property Consultants commented: –

“I am delighted to have found such a high quality tenant for this unit in Clipstone.  The unit has been on the market for some time with Newark & Sherwood District Council and I am delighted that we have been able to add value here by completing a letting in just 4 months.

The process was assisted greatly by the attitude and pragmatism shown by Newark & Sherwood District Council who fully understand the market conditions and flexible approach which needs to be adopted to achieve success in the current market.”

Andy Wood of UK Metering commented: –

“We are delighted to have agreed a deal with FHP & NSDC for the lease of Unit 7 Woodland Close. We have experienced an excellent level of growth, particularly over the last 2 years, which has been largely driven by the introduction of the governments Renewable Heat Incentive (RHI). As a major distributor of approved metering solutions for the RHI scheme, the Company has invested significantly in stock levels to ensure that we are able to offer ‘off the shelf’ availability on all heat metering requirements. The Company has also increased stock levels on water meters, gas meters & electricity meters which enables us to offer full utility metering solutions to contractors and/or end users.

Proximity to major routes in and out of Nottinghamshire, locality to the current workforce, sufficient space to allow further growth over the next 5 years together with its well-presented, modern offices, reception and meeting room were all major factors in our selection of Unit 7.”

Phil Daniels of Newark & Sherwood District Council commented:-

“FHP’s market knowledge and excellent market coverage was invaluable to the early identification of a good quality tenant for our unit at Clipstone. I would have no hesitation in recommending FHP to other local authorities.”

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FHP Property Consultants are delighted to announce the first letting within the recent developed serviced office building on 3 Hope Drive which lies within the Park Estate in Nottingham City Centre.

The property comprises a charming two storey office building with car parking within the grounds of the Park Estate which maintains many of its original period features whilst also offering a modern working environment.  The property has been refurbished and split up to appeal to the local SMEs and new start ups who we are finding require both flexibility in lease terms and certainty in terms of occupation costs.  We are offering all inclusive rents on flexible tenancy arrangements for this reason.

The first letting of the building is to a local psychotherapist who is relocating from Castle Boulevard having already a strong client base in the City.

Within the remainder of the building we are offering offices to accommodate requirements from one desk to as many as 15 desks.

The beauty of this location is that office occupiers can be close to the City Centre without paying the parking premiums which can keep all important overheads right down for businesses.

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FHP Property Consultants are delighted to announce their latest letting at City Business Park in Colwick to Mortimer Management Group, the latest in a series of lettings has resulted in full occupancy being achieved on the site.  The units were constructed in 2008 in connection with the city electrical factors trade counter branch and has been vacant for some time prior to FHP’s involvement.

Mark Tomlinson of FHP Property Consultants commented: –

“The completion and construction of these units couldn’t have happened at a worse time, coinciding with the decline of the general economy that marked a sharp decrease in the industrial market generally which resulted in subdued demand for trade counter opportunities in this location for some time.

Upon being instructed the units no longer commanded trade counter rents and therefore we corrected the rents in order to compete with the general local industrial and warehousing market.  This stood us in good stead and we achieved a series of lettings and I am delighted we have now achieved full occupancy on the site.

I am now seeing an increased appetite among occupiers to secure new premises both on a leasehold and freehold basis and good quality units such as these are becoming increasingly rare.  With little development of this nature in the pipeline around the City this is likely to become an increasingly familiar story.”  

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CLOWES Developments’ Castlewood site has cemented its position as one of the fastest growing industrial locations in the East Midlands after a distribution specialist unveiled plans for a £20m warehouse complex.

UDG, a specialist distribution company for the healthcare industry, has begun work on a 220,000 sq ft warehouse development which may ultimately employ up to 250 people. It is the latest in a series of major names to sign up to Castlewood, which has now become established as a regional destination for businesses looking for bespoke development served by a major motorway route interchange.

The company joins Co-Operative Food, which has developed a 480,000 sq ft landmark distribution centre employing 900 people to serve is regional store network. Castlewood is also home to new developments by the electronics division of transport giant Bombardier, Midland Aerospace, and automotive industry supplier Meridian Lightweight Technologies.

The site is less than a mile from the interchange of the north-south M1 and east-west A38 at Junction 28, and the momentum behind its expansion is such that Clowes Developments is now embarking on the provision of restaurant facilities and a petrol station to support the numbers of people working on and visiting the site.

James Richards, Development Surveyor at Clowes Developments, explained: “When we acquired Castlewood there was no question that it was an ambitious move, but we felt from the start that a perfect location and the significant scope of the site meant that it had enormous potential.

“It is a genuine strategic location and we have worked hard to deliver development opportunities that would meet the needs of some prestige occupiers while remaining commercially pragmatic. The names of the companies who have moved on to the site suggest our faith is paying off.

The next step is likely to be the development of facilities to support a site which will be home to substantial numbers of people. Looking forwards, there are still some significant development opportunities on the site and Clowes Developments is in a strong position to provide solutions for occupiers.”

The UDG deal also involved a number of leading regional professionals, with Claire Gay, of the Nottingham law firm Brown Jacobson, representing UDG, and Heather Dixon, of the Derby solicitors Flint Bishop, handling legals for Clowes Developments.

UDG already has three distribution facilities near Junction 28, but continuing expansion means a new, purpose-built warehouse is now needed. Chris Williams, UDG’s Managing Director, commented: “We have outgrown our existing properties and we are fully expecting our business to expand further

“We did consider a number of other locations for our new development, but the key benefit of moving here is that it is immediately accessible to the people who work at our other sites. This is important, because they are an experienced team. We anticipate that around 50 people will work here to begin with, probably transferring form other sites, but we would expect to be adding another 150-200 jobs over the next three years.”

UDG is likely to invest around £20 million in the site over the course of its lease. Mr Williams added: “Being close to the motorway is particularly important for a business like ours, and moving on to a site like Castlewood gave us the opportunity to develop a building from scratch to our own specification.”

All the deals at Castlewood have been secured by the Nottingham property consultancy FHP. John Proctor, director of the firm’s office and industrial team, said: “Castlewood stands out as a genuine success story during some challenging times. To secure occupiers of the calibe of UDG so soon after the Co-Op transaction is a testament to the site’s quality.

“Its location is the key to why it has succeeded – it’s less than a mile from Junction 28, which gives occupiers fast and easy access to enormous regional and national markets. The economy is certainly starting to look up now and on that basis we would expect more businesses to come to Castlewood in the coming months.”

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FHP are delighted to announce the recent letting of 23 Cornmarket, Derby to Liberty Flights.  

Liberty flights, established in 2009 are one of the leading specialists in E Cigarettes and E Liquid and have been recognised as one of the best suppliers in the industry.  Their ‘E Cig’ devices are now the way forward for many cigarette smokers. 

Available in an array of strengths and flavours ranging from traditional tobacco and menthol flavours to a mixture of floral and fruit inspired liquids, each electronic cigarette offers a unique chance for a smoker to fine tune their exact choice to best suit their requirements and preferences. This alternative to tobacco based cigarettes has liberated many smokers from the confines inflicted by the smoking ban of 2007, presenting a socially acceptable way to enjoy nicotine where all that is exhaled is water vapour that dissipates quickly into nothing. Generating no lasting unpleasant odours, our electronic cigarettes offer you the chance to try different strengths and flavours of liquid without causing a disturbance to others.  No tar and no nicotine is expelled on an exhale. 

George Dunnicliff, surveyor at FHP Property consultants who agreed the deal commented:- 

“I am extremely pleased that this deal was completed in such a short time frame meaning Liberty Flights could move into the property quickly and get set up in time for the start of Stoptober.   With over 2 million people taking part in Stoptober I believe they have opened at the best possible time and I wish them all the luck for the future”.  

For more information on this letting or for any other retail requirements please contact George Dunnicliff on 01332 343222 or george@fhp.co.uk.

 

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FHP Property Consultants are delighted to confirm the sale of Halley House on Hounds Gate in Nottingham City Centre.

The office has been sold to student residential developer Forshaw Developments who will be converting the 18,500ft² building into student accommodation.

James Hartley Associate Director at FHP Property Consultants commented:

“I am pleased to see this property coming back into use.  We have seen a number of transactions of this type in the last 12 months and it is becoming somewhat of a trend to see this type of City Centre office which arguably is no longer fit for office use being converted into student residential or private rented residential schemes.

The trend looks set to continue with a proactive planning team within Nottingham encouraging alternative uses for struggling offices.  We are also seeing what appears to be a more positive outlook on the property market which is leading to an increase in activity post summer holidays.  I do think that we will see the trend moving more towards private residential as opposed to students as this market is becoming more and more competitive for student living.”

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FHP acting on behalf of clients, CJS Properties, have completed the sale of the former Lion & Dragon Public House on Wilmot Street in Long Eaton to Rippon Homes.

The site, which totals 0.48 acres, had detailed Planning Consent for the development of 8 semi-detached houses and 1 detached house.

The price achieved equated to almost £700,000 per acre, or £41,500 per plot.

David Hargreaves of FHP confirmed that small sites with Planning Permission that are ready to be developed continue to find a market, with there having been a significant increase in developer interest over the past 6 – 12 months.

The Government’s Help to Buy policy has also helped considerably and we have seen a large increase in the number of first time buyer mortgages over the past few months as well. Indeed Government figures show that mortgages to first time buyers in July were up 40% on the previous year to 26,100.

Charlotte Sawford, Proprietor of CJS Properties, said: “I am delighted with the price achieved by FHP, which was well in excess of the suggested price from other local agents.  This sale shows that if you put the work in up front and secure Planning Permission on a site to create an “oven ready” development, it will sell.”

FHP have a number of other similar sites including Worksop, Top Valley, Sherwood and Mansfield, with strong interest in all.

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