Acting on behalf of private property investor clients, Tim Gilbertson is pleased to announce the completion of a substantial office letting in Mansfield extending to just over 6,000ft². 

The deal concluded sees Central Nottinghamshire Clinical Services take high calibre first floor space at Phoenix House on Oak Tree Lane in Mansfield for their expansion and relocation. 

Tim Gilbertson brokered the deal and commented: 

“This is a substantial letting for our clients who have owned this property for some time with the ground floor already occupied.  This deal sees the building now completely occupied and provides an excellent return for our clients. 

We wish Central Nottinghamshire Clinical Services well in their base and know they will enjoy taking advantage of this excellently positioned and very well presented building.” 

The deal again shows how in late 2014 the commercial property market in the region was strengthening and we hope to see similarly improving market conditions in 2015 where the biggest difficulty to overcome will be a lack of stock rather than lack of demand. 

Hopefully though a strengthening in economy in the New Year will provide an equally strengthening commercial property market.

Latest news

Tim Gilbertson of FHP is pleased to confirm the letting of high calibre warehouse space on the ever popular Langham Park Development at Trent Lane in Castle Donington.

Offering prime accommodation of just over 10,000ft², set in a superb location just off the A50 within minutes access of the M1 and East Midlands Airport, the deal concluded sees a unit of 10,600ft² let to locally based company, Kintetsu World Express for their continued expansion.

Tim Gilbertson who dealt with the deal commented:

“I was delighted to see this building let to Kintetsu on behalf of our client.  From our landlord client’s perspective this provides a good quality tenant for their superbly specified and located unit whilst equally it enables Kintetsu to continue with their expansion and growth.  We wish them well for the future. 

Hopefully the market in this area is moving and we have interest in two other units that we are currently marketing on the estate, although no deals agreed as yet.

Therefore any party wishing to lease high calibre warehouse or production space still has an opportunity to secure either of the buildings which extend to just over 4,000ft² and just over 5,000ft² respectively.

I would be delighted to her from any party who might be interested in these buildings accordingly.”

For further information on the deal or to make enquiries regarding the two remaining units on the estate please contact Tim Gilbertson on 0115 9507577. 

 

Latest news

FHP are pleased to announce the completion of the letting of Unit B London Road, Alvaston and the simultaneous sale of the created investment, following the sale earlier in the year of the investment created at Unit A.

The majority of the property is now let to White Cross Vets Limited t/a Pesco Limited.  White Cross Vets have been in occupation of Unit A for five years who are trading successfully and wish to expand.

As such terms were agreed for the letting of Unit B totalling approximately 3,000ft².

Earlier in the year Unit A which produces an income of £34,600 per annum was sold for a sum of £370,000 to show a yield of just under 9%. 

The purchasers were BNP Estates and following those negotiations terms were agreed for the purchase of Unit B for a figure of £175,000. 

It should be noted that there was a substantial rent free period granted in respect of the letting together with various works of repair which were required as part of the overall transaction.  The overall yield to the purchasers was circa 9.5%.

BNP Estates Limited, who are based in Leicester, were well represented by Naresh Patel of Spencers Druce.

END

 

Latest news

Acting on behalf of long term clients, Falcon Panel Products, Tim Gilbertson, Director of FHP, has acquired a further base for their continued expansion throughout the Midlands, agreeing a leasehold acquisition of space in West Bromwich of just over 23,000ft². 

Having previously acquired space for Falcon in the East Midlands this is a further success story for the company as they continue to grow their expanding business.  

Tim Gilbertson commented: 

“Having first linked up with Falcon over 10 years ago it has been an absolute pleasure again to deal with them on this particular instruction as has always been the case in the past.  The fact that we acquired additional space for them for their continued growth is even more pleasing and hopefully we will have a chance to do the same again in the future. 

Acquisition work is often undervalued by clients and in this case I would like to think that our involvement not only saved our clients substantial time and hassle but most pertinently of all secured them a far better deal than they would have expected to achieve if they had negotiated the terms of the new lease themselves.  

Market knowledge is always valuable and in this instance hopefully secured a substantial saving for our clients as a result.  

I am always keen to undertake further acquisition work for clients and would be delighted to discuss the role with any potentially interested parties”. 

For further information on the transaction or indeed how Tim Gilbertson can assist with the acquisition of premises for your property in the future then please do not hesitate to call on 0115 9507577. 

Latest news

FHP has let a former betting shop at 31 Market Street, Loughborough to a private individual to trade as a Pan Asian restaurant/takeaway.

The former Betfred shop became surplus to requirements following relocation by the bookies to larger premises in the town.

The unit which comprises 941ft² ground floor sales was sublet to the restaurant for a term until the expiry date of Betfred’s existing lease in November 2018 but incorporating the right for the restaurant to renew directly with the landlord.

Mark Bradley of FHP Property Consultants, who represented Betfred, commented:-

“This former Tote betting shop was smaller than Betfred’s ideal requirement and following relocation, FHP were instructed to dispose of the unit specifically targeting the A3/A5 market for which the unit is ideally located to serve the nearby student population and also benefits from an outside seating area.”

Latest news

FHP are pleased to announce the appointment of Darran Severn to bolster their Derby office. Darran will be working in the agency team alongside Tim Richardson based on Pride Park.

Darran comments “I am delighted to have joined the company at such an important stage in my career.  FHP are one of the most active agents in the East Midlands and I am really looking forward to a long future with them. I have been brought in to expand the Derby office at a time when Derby itself is seeing new investment and growing as a city.  

Having spent the last three years working in West London, I am pleased to have been able to move back to the East Midlands and join an award winning company.  In my previous role, I specialised in office and industrial agency work within a five mile radius of Heathrow Airport.  Marketing a portfolio of mixed properties has given me valuable experience in completing deals which benefit both landlords and tenants.

Now at FHP, I will be covering a wide range of agency instructions throughout Derbyshire including retail, office and Industrial properties.  Whilst covering these instructions I am planning to complete the Assessment of Professional Competence and become chartered. 

Although I have only been with FHP for a short time, it is very clear that everyone in the company shares a very forward thinking approach and it is very much a team effort.      

It is an exciting time for Derby, and I am looking forward to the challenge of this market.”     

Latest news

FHP Property Consultants are delighted to have been instructed to market workshop premises with offices/trade counter having the rare benefit of an extensive yard area. The premises were previously used as a builder merchants, and prior to that as a vehicle workshop. The premises have excellent road communications being approximately 2 minutes’ drive from junction 1 of the A50, which leads directly to junction 24A of the M1 motorway.

 

The premises are available to let by way of a new sublease for a term to be agreed at a quoting rent of £29,750 p.a. The building extends to some 6,317ft² on a site of approximately half an acre.

 

For further information contact Tim Richardson at FHP on: 01332 343 222

Latest news

Broughton Plant Hire have purchased industrial premises in Alfreton to facilitate their expansion. FHP Property Consultants acted on behalf of the vendors in the transaction and were pleased to attract interest in the building and a successful sale at an early stage.

The property extends to some 9,042ft² and benefits from excellent access to the A38, a few minutes’ drive from junction 28 of the M1 motorway. FHP acted on behalf of Permaroof, who relocated to larger premises nearby. Adrian Buttress of Permaroof commented “following our relocation unit B1 was surplus to requirements and we instructed FHP to achieve a disposal for us. Whilst a letting was an option, we preferred to sell the building and this has been accomplished within a prompt time scale.”

Broughton Plant Hire opened a depot in Sandiacre in 2010 and are specialist suppliers to the heating, ventilating and fire protection trades. Joe Zammit from Broughton Plant Hire says “unit B1 Venture Crescent met our criteria in terms of size and accessibility to the road network. We will be undertaking some refurbishment before moving in in the New Year.”

Tim Richardson from FHP Property Consultants added; “Freehold industrial premises of this size are few and far between. We were expecting good interest and are delighted to have secured a sale at the expected price and in a timely manner.”

For further information contact Tim Richardson at FHP: 01332 343 222

 

Latest news

A landmark building in Nottingham city centre has changed hands in one of the biggest commercial property investment deals seen in Nottingham for some time.

Chapel Quarter, a leisure and office complex which is in one of the most prominent positions in the city, has been bought by a pension fund for £25.55 million from overseas investors. The price paid represents a net initial yield – a measure of the return on investment – of 7.14%.

The deal has been hailed as a sign that large-scale property investors looking for good returns are beginning to snap-up high-quality regional assets as markets in London and the south east overheat.

Chapel Quarter sits at the junction of Maid Marian Way and Upper Parliament Street. It is home to a Holiday Inn Express hotel and a series of bars and restaurants – among them Las Iguanas, Fat Cat Cafe Bar, and ASK Italian.

The 145,000 sq ft building’s upper floors also house an office complex with tenants which include Thomson Reuters, Barclays Bank, web design and internet marketing business Adtrak, and Global Radio – which broadcasts Capital FM from the site.

The building has been purchased on behalf of the British Airways pension fund by David Hargreaves of Nottingham property consultancy FHP, who acted jointly with Steve Benson from GBR Phoenix Beard in Birmingham.  James Keeton and Matt Smith of Jones Lang LaSalle’s Nottingham office together with their Birmingham Office acted for the vendor.

David Hargreaves commented: “This is a significant deal on two levels. It is one of the biggest investment deals of its kind in the region, and it also shows that major investors are looking beyond London and the south east provided they can find substantial, well-performing assets.”

Chapel Quarter currently brings in nearly £1.93m in rent every year while its existing tenants are on leases which still have an average of 11 years left to run.

“So much investment money is chasing stock further south that it has driven prices up and squeezed returns,” said David Hargreaves. “To get value, those investors are now looking further afield with core cities like Nottingham coming on to the radar.

“The British Airways pension fund is a high calibre investor which has a reputation for improving the quality of its assets and we can look forward to refurbishments and reconfiguration which make the most of market opportunities and the building’s potential.”

The vendors were represented by the Nottingham office of JLL.

End

 

 

 

Latest news

A taste of true Deep South barbecue cooking is stampeding into Nottingham after laying a smoke trail of success across Leeds and Manchester. Red’s True Barbecue is a new restaurant concept dreamt up by entrepreneurs Scott Munro and James Douglas that has taken the foodie scene by storm in the two northern cities.

They were inspired by the hunks of meat slow cooked in huge smoker ovens in America’s Deep South and launched their concept in Leeds and opened in Manchester earlier this year. Nottingham has been chosen as the site of the first Red’s True Barbecue in the Midlands.

In a deal secured Nottingham property consultancy, FHP, Red’s have signed a lease for premises on Queen Street in the city centre, close to the Market Square in an area where a series of successful new restaurant openings have taken place, with Bills, Wildwood, George’s Fish and Chip Kitchen and Barburrito all secured by FHP.

Red’s will carry out a £1.1 million makeover of the premises, transforming it into a unique restaurant environment with 160 covers.  Scott Munro said:

“The gospel of true barbecue continues to convert UK food lovers. In under two years, and with just two restaurants, the Red’s experience has captured the imagination of almost 500,000 believers, introducing them to US-style low-and-slow smokehouse cooking. We are now spreading the word in Nottingham”.

Alan Pearson of FHP Property Consultants says:

“The deal is a coup not just for Nottingham but for FHP, Reds are an iconic brand with a great reputation.  For Nottingham to be their third opening says a lot about the city”.

Red’s True Barbecue are on site fitting out the premises with plans to open for business in January 2015. It is one of a number of new restaurant openings and Alan Pearson says the arrival of a new wave of restaurants, cafes and bars concepts is strengthening Nottingham’s credentials as an all-round visitor destination.  He commented:

“We have seen a real revival in the restaurant and leisure scene in Nottingham. Even though retail is changing, people are not deserting cities – if anything the opposite, because they are looking for an all-round visitor experience taking in shopping, eating and entertainment.

“You get a big helping of both eating and entertainment with Reds from the way the food is prepared and the sheer theatre in how it is cooked in the open kitchen. There is nothing like this and people are going to be wowed by the atmosphere and taste”.

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.

Latest news

Cardzone, the Nottinghamshire based cards and novelty gifts retailer, has purchased the business of Card Centre which trades from 14 branches together with distribution warehouse in South Wales including stores in Cardiff, Swansea and Bridgend Outlet Centre.

The acquisition takes the number of stores within the company to 82 branches trading under the fascias of Paper Kisses and Cardzone.

Mark Bradley of FHP Property Consultants who advised Cardzone on the property aspects of the acquisition commented:-

“The Card Centre brand is well established in the region and includes Thorntons concessions in a number of stores.  Geographically the acquisition fits perfectly with the existing Cardzone portfolio and forms a strategic extension into South Wales.

We are now in the process of restructuring a number of leases and re-basing the rents by offering the landlords the stronger Cardzone covenant.”

Cardzone are set to continue with their expansion programme into 2015 with both new stores and business acquisitions.

Latest news

FHP acting on behalf of their retained clients, Hillary’s Commercial, are pleased to announce the completion of the acquisition of the above multi-let industrial estate.

The property comprised a purpose-built 18 unit multi-let industrial estate totalling 18,500 ft² erected approximately 35 years ago.

The property is arranged in two sections with 6 units fronting onto Hawkins Lane with the remaining 12 units fronting onto the service road and forming part of the courtyard development.

The property is let in its entirety on two coterminous leases to East Staffordshire District Council for a term of years expiring in March 2017.

Under the terms of the lease the local authority sublet the individual units.  The rent is fixed at 80% of the aggregate market rental value.

At the present time there is a current net income of circa £84,000 per annum which will rise as and when the head lease falls away to a figure of not less than £105,000 per annum.

Noel Roper of FHP who acted on behalf of Hillary’s throughout comments:

“We were delighted to be able to acquire this property by a private treaty to add to the already existing investment portfolio owned by Hillary’s within Burton-on-Trent.  This estate is well-established occupying a prime location within the Hawkins Lane industrial area.

It is the intention of Hillary’s over the next two to three years to carry out various works of refurbishments and improvement and to gradually increase the rental value of anything up to £110 to £120,000 per annum as and when the lease to the local authority falls away.

The purchase price agreed was £1,000,000 which shows an initial return of 7.8% and, more importantly, a reversionary return of 9.86% rising later on to in excess of 10 or 11% when the units have been refurbished and re-let at materially higher rents”.

Adam Burdett of Intali acted for the vendors, a private property company.

END

Latest news

FHP acting on behalf of Byron Works Limited, a subsidiary of Megaclose, are pleased to announce the completion of the sale of the above property.

The property originally comprised a purpose-built factory acquired by Megaclose a few years ago.  They subsequently obtained planning consent for conversion of the property into student accommodation for some 32 beds.

The property was let on a gross income for the year ending 2013 of circa £154,000 per annum rising in 2013/2014 to £160,256 per annum and thereafter to a higher figure of £190,560 per annum for the academic year commencing August 2014.

The purchase price agreed was £1,850,000.  The investment showed a gross yield of 9.70% for the academic year commencing September 2014.  Internally the purchase price represented a figure of approximately £60,000 per bed.

Noel Roper who acted on behalf of Megaclose throughout the negotiations comments:

“We were delighted to be able to achieve the completion of this satisfactory sale on behalf of Byron Works Limited at what we consider to be an extremely satisfactory price equating to nearly £60,000 per bed.  Megaclose had spent a considerable amount of time and money refurbishing this property to an excellent standard.  This was reflected by the fact that at the time of the initial lettings the property was let for the academic years 2012/2013 and 2013/2014 simultaneously.  Furthermore, the property has provided substantial growth with the income rising to a gross figure of circa £190,000 for the current academic year”.

The purchaser, who is an experienced student investor, was unrepresented.

END

Latest news

FHP acting on behalf of a private investor have purchased the Schuh unit at 31-32 Long Row, Nottingham via the Acuitus November Auction.

The property, which totals 9,757 sq ft and is leased to Schuh until 23rd June 2016 at a rent of £167,500 per annum, was brought a price of £1.5 million, reflecting an initial yield of 10.5%

David Hargreaves, who advised the purchaser, confirmed:

“We know this property well, having originally acquired the unit for Schuh and although their lease is close to an end, we are confident that if they did not renew their lease, the property would be readily relettable bearing in mind it’s prime location overlooking the Market Square.

We have recently let the former Pizza Hut unit 2 doors away at a rent of £155,000 per annum to Five Guys with a number of under-bidders, whilst the upper floors in due course will potentially provide a development option for apartments/student accommodation.”

David Hargreaves finished by saying:

“Our depth of knowledge of the Nottingham retail and leisure market as well as the residential market adds significant value to our clients’ investments and so where other investors may be put off, we are able to see value.”

FHP have been retained to manage the property.

 

Latest news

BEER, ale and cider are back on the menu at a former Nottingham pub following the opening of Brew Cavern in The Flying Horse Walk.  Over the last 400 years, the city centre site has been home to the Flying Horse Inn as well as five other pubs, including the Punch Bowl Vaults dating back to 1758.

Now, after 30 years ‘dry’ following the conversion of the inn into a shopping arcade, beer is once again on offer to the general public – unlike its predecessor though, you won’t find beer on tap, but bottled craft beers, ales and ciders which have been lovingly brewed from across the UK and further afield.

Matthew Hinton, owner of Brew Cavern, said:

“It’s great to have opened, and so far we’ve had a really positive reception from our customers here in Nottingham.

I discovered a real passion for beer whilst living in Sheffield; they have a couple of craft beer shops and I when I moved to Nottingham I noticed that there wasn’t really anything like that in the city centre and noted a gap in the market.

The beers, ales and ciders we have on offer here are all made to a high standard and each one is individual – we have a wide range to suit all from a vegan friendly beer, flavoured beer and beer that has been brewed to aid wildlife conservation.”

Brew Cavern stock a range from breweries across the UK and Europe – ‘From The Notebook’ designs blends in Nottingham that are then made created at a Worksop brewery.  Other stock includes popular London brewery The Kernel and Bevog, a German style beer that has been brewed in Austria.

Craft beer and ales have seen a substantial increase in popularity during recent years and Nottingham is no stranger to this growing trend as can be demonstrated by the popularity of this month’s Nottingham CAMRA beer festival.

Frankie Labbate from FHP, who let the unit on behalf of London and County, said:

“The Flying Horse Walk is home to a number of independent stores, each one offering something unique and of value to the Nottingham consumer market – Brew Cavern is no exception to this and we hope to see it go from strength to strength.” 

Brew Cavern is an independently owned shop selling brewed craft beer, real ale and bottled cider.

Latest news

The Property Management Department at FHP Property Consultants are pleased to announce that they have been appointed to manage the recently refurbished office space on Pilcher Gate in Nottingham on behalf of a private client.

33 Pilcher Gate presents a grand stone masonry frontage, expanding over 5-storeys, including the basement, comprising 9,041 ft² of office accommodation.  The offices surround a private, enclosed courtyard within the central core of the building.

Rob Spencer, the Director in charge of the Property Management Department at FHP commented:-

 “We were approached by the Client to provide a full management and maintenance service to complement the building, following FHP’s successful agency.  FHP is excited about our future of involvement with historic and modernised space, having already been heavily involved with the co-ordination of the fit-out works.  We are enthusiastic applying our knowledge and experience to ensure the continual excellence of the office space and continue to deliver quality for the tenants.”

FHP will be providing property and asset management services for the building, for the retained client.  The building will be fully occupied by December 2014, and is located in the city centre benefiting from a number of amenities including parking and shops, as well as access to leisure facilities in the immediate area. 

Chloe Smith, Management Surveyor at FHP added, “All floors have been recently fitted out to a high specification, providing superior office space.  As the Nottingham office market gains momentum, FHP is committed to maintain and promote the standards of the premises and its retained position in Nottingham’s skyline.”

If you would like to find out more about how the FHP Property Management service may be able to improve your current property performance then please contact Rob Spencer on 0115 841 1143.

Latest news

Acting on behalf of long term clients of Cornerstone Real Estate Advisers, Tim Gilbertson of FHP is pleased to confirm the letting of the final available unit on this scheme.

Set in a superb location, forming part of Glaisdale Park Industrial Estate and therefore within quick access of both the centre of Nottingham and the A610 leading to Junction 26 of the Motorway, the deal agreed sees an existing tenant Art Systems expand and take additional space on the scheme with a further unit of 15,000ft² now let to them.

This deal is particularly pleasing given that this is the last available unit on the estate and somehow neatly sums up the industrial/warehouse market in the region at present in that demand is improving and stock continues to be in short supply.

Tim Gilbertson of FHP who dealt with the letting, commented:

“Having let to Art Systems their original units on the estate some years ago, it was a pleasure to deal with them through their agents Innes England again and conclude the letting of further space on the estate of just over 15,000ft².

A success story is always good to see and their expansion is proof of the improving economic conditions and the fact that demand is rising for commercial property across the board whilst supply remains poor.

From our client’s perspective the deal now brings their ownership up to full occupation once again and therefore this is a great deal all round for all parties.

Again we wish Art Systems well and I hope that I might do a further deal with them in another few years time when they are ready to expand again!”

For further information on this deal or to see how FHP can help you let your premises please contact Tim Gilbertson on 0115 9507577.

Download Press Release

 

Latest news

The Property Management Department at FHP Property Consultants are pleased to announce that they have been instructed to manage Interlink Park and Meridian Business Park Extension on behalf of Wilson Bowden Developments.

Interlink Park is located in Bardon Hill near Coalville whereas Meridian Business Park Extension is situated in Braunstone, Leicester.  Both sit within minutes of their respective M1 junctions.  These estates comprise of high quality industrial accomodation and demand an equal quality of surroundings.

For both management companies, FHP will provide management services to the estate areas including administration and collection of service charges, appointing suppliers, providing advice and acting as point of contact for property owners.

The sites are an exciting addition to FHP’s exisiting Wilson Bowden portfolio where our expertise and knowledge will enable us to deliver a high standard of services and ensure the communal areas add real value to the properties.

If you would like to find out more about FHP’s property management services, please contact Tom Wragg.

Latest news

Alan Pearson, Director of FHP Property Consultants and Joint Letting Agent of Intu Derby is delighted to announce a series of new lettings within the Intu Derby Shopping Centre.

Tiger, the Danish variety store retailer has recently opened a new 3,311 sq ft unit on the lower mall opposite H&M Kids.  They first opened in Copenhagen in 1995 and has now grown to 314 stores across Europe and Japan.  The retailer offers a wide variety of homewares, toys, stationary, toiletries and accessories.  This is Tiger’s third store in the Midlands, following openings in Merry Hill and Leicester. 

Hotter Shoes have leased SU144 on the lower mall, opening their second store in the East Midlands.  The store provides 2,000 sq ft of accommodation.  The company has been trading for over 50 years and currently trade from 71 units across the UK.

HMV have relocated from the junction of East Street and Albion Street onto level two of the centre, acquiring the former Republic store.  This unit provides 8,000 sq ft over ground and mezzanine level.  The unit occupies a prominent position close to the M&S Department Store and adjacent to Bank and JD Sports.

Ann Summers have relocated from St Peter’s Street to level two.  They have taken a unit adjacent to New Look and Dorothy Perkins. 

Alan Pearson of FHP commented: “The recent lettings continue to show the demand from retailers to gain representation within Derby and the relocation of both HMV and Ann Summers show the strength of the centre within Derby’s retail offer”.

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

Latest news

The Nottingham office of top 50 law firm, Gateley, has demonstrated its continued commitment to remaining within the heart of the city’s business community by moving on a long-term lease to centrally located Park View House.

Prominently positioned at 58 The Ropewalk, the move, scheduled for early December, will allow the operation to continue its growth plans within Nottingham’s professional quarter.

John Proctor of FHP acted for Gateley on the deal, whilst the landlord was represented by James Keeton of JLL and James Hall of Geo Hallam & Sons.

Led by Real Estate partner and head of office, Andy Matthews, the Nottingham operation is a key player in the city’s professional services community, providing clients with expertise across Banking & Finance, Commerce, Technology & Media, Property Litigation, Contentious Construction, Corporate, Corporate Recovery, Employment and Real Estate.

Andy Matthews commented: “The Park View House move will provide modern, professional office space in an easy to find location.

“We made a number of key hires and promotions during 2014 across our service offerings. The move reflects our investment in developing the team further”.

Simon McIntosh of F&C Reit who represented the landlord added “Following the speculative refurbishment, F&C REIT are delighted to have secured Gateley, another blue chip tenant. This letting reinforces the demand and flight by tenants to modern, Grade A refurbished office buildings in Nottingham.”

This news follows a successful twelve months for Gateley’s East Midlands teams. In May 2014, the Nottingham and Leicester Corporate team was named Legal Team of the Year at the Insider East Midlands Dealmakers Dinner. In addition, in the most recent Experian Corpfin Advisor league table, the firm achieved a first place ranking by deal volume in the Midlands as well as nationally.

Latest news

FHP’s Blue Light Estate’s Jonathan Bishop on behalf of Leicestershire Fire & Rescue Service has acquired a warehouse in Castle Donington which has been converted into a new fire station.

The 10,225ft² industrial unit at Building 97 on Beverley Road located within the East Midlands Airport Campus is now already operational within a few weeks of completion.

The unit comprises 6,742ft² of warehouse and 1,741ft² of office space at the ground floor with further offices of 1,741ft² to the first floor and is a secure self-contained site just a short distance from the M1 motorway.

Jonathan Bishop, Head of FHP’s Blue Light Estates Department, acting on behalf of the Fire Authority commented:

“I’ve probably acquired more fire stations than anyone else in the country in recent years but other than a temporary decant, this is the first conversion of an industrial unit we have done.

The location and configuration of the new facility was fundamental to my client’s from an operational perspective.  We needed to secure an opportunity that served both Castle Donington but also with immediate access to the M1 whilst at the same time, satisfying requirements of a modern day fire station.  Building 97 satisfied all and I am delighted for my client”.

The airport campus benefits from superb communication via Junction 23a and 24 of the M1 motorway, A50 and the A42/M4.

For further information please contact Jonathan Bishop at FHP Property Consultants on 0115 950 7577.

Latest news

Acting on behalf of the Commercial Estates Group, Georgia Crapper of FHP Property Consultants is delighted to confirm the letting of an industrial unit at the popular Air Cargo Centre at East Midlands Airport.

KG Aircraft Rotables who already occupy other units at the airport have taken a further 3,711ft2 to support them with their expanding business needs.

KG specialise in the supply and repair of aircraft rotable component parts for aircraft including Boeing 737 & the Airbus A320 family.

Georgia Crapper at FHP acting on behalf of the landlord commented:-

“We have seen a continued increase in demand for industrial space in the last 6 months. This demand is primarily driven not just by new businesses but by current occupiers looking for further space to accommodate their growing business needs. KG Aircraft Rotables are an example of this.

We now have only one remaining unit which is immediately available at Air Cargo and which underwent a full refurbishment in the last 12 months. We will shortly be taking back further space of up to 8,918 ft2.

If we continue to see the same level of demand for good quality space which is ideally located within minutes of the M1 Motorway, I predict the remaining units will not be available for long.”

Antonia Martin-Wright of CEG commented:-

“Many thanks to Georgia and the team at FHP for their help in the letting of this property to a company which fits the estates profile perfectly. We wish the new tenants every success and hope that this additional space will assist with their future expansion plans.”

The majority of the Air Cargo Centre was constructed in 1985 and comprises 23 units with a total floor area of circa 200,000 ft2.

East Midlands Airport is the UK’s leading express freight and mail hub with unrestricted night cargo flights and 89% of mainland England and Wales within a four hour drive time.

For further information on the deal or to discuss the potential opportunities at Air Cargo please contact Georgia Crapper on 01332 343 222 or our joint agents Innes England on 01332 362244.

END

15th October 2014

 

Latest news

On Behalf of a private client, Georgia Crapper of FHP Property Consultants has successfully handled the freehold sale of a popular light-industrial unit on Canal Street, Derby.

Unit 1, 36 Canal Street, a former car repair centre of some 1,120 ft2 was originally advertised as ‘To Let’ but was eventually sold to Derby Auto Electrical Services after just a few short weeks on the market.

Georgia Crapper of FHP Property Consultants commented:-

“The decision by the vendor to sell the unit was extremely well received and from the word go we had a very positive level of interest. The industrial market is continuing to show encouraging signs of improvement and the quick sale of this unit is a shining example of that.

The unit has allowed Derby Auto Electrical Services to expand their current business services and increase their presence within the Derby area.”

For further information on the deal or to see how FHP can help dispose of your premises please contact Georgia Crapper on 01332 343 222.

15th October 2014

Latest news

On behalf of private clients, Georgia Crapper of FHP Property Consultants has been instructed to market a high calibre unit on the popular Langham Park Industrial Estate in Stanton-by-Dale, Ilkeston.

This modern warehouse with office and showroom space is available to rent, with the potential to purchase and extends to 1633.3m2 (17,581 ft2) and is ideally located within 2.5 miles of Junction 25 of the M1 Motorway.

The unit is finished to a particularly high standard throughout and benefits from ample car parking with double full height loading doors to the front of the unit.

Georgia Crapper commented:-

“This is a rare opportunity to rent and potentially purchase this modern, detached property which sits on a securely fenced and gated site. The high quality offices also include breath taking views over Erewash Valley Golf Course.

At a time when we are seeing continued improvements in the market, this rare visitor, I am sure will be well received in terms of interest.

It is certainly an opportunity not to be missed and I would therefore urge any interested parties to make contact with me as soon as possible.

This is a unit which requires a viewing to truly appreciate the numerous benefits.”

For further information or to make arrangements to view please contact Georgia Crapper on 01332 343 222.

END

15th October 2014

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FHP acting on behalf of Robec Properties LLP have acquired a retail investment let to HSBC on The Square in Beeston.

The property, which provides a ground floor of 2,600 sq ft and totals 8,500 sq ft is let at a rent of £90,000 per annum until 2021 to HSBC.

The tenant has the benefit of a break clause in August 2016 with the price paid reflecting an initial yield of 10%

David Hargreaves, who acted on behalf of the purchasers, said:

“The property is situated in an excellent location in a town that is going through a substantial transformation through the refurbishment of The Square and the development of the new Tram line which runs close to the subject site and which should go live in 2015.  We do not expect HSBC to exercise their break clause in 2 years time, but if they do this property is readily relettable.  At £850,000 – 10% this is a fantastic buy.”

FHP introduced the opportunity and negotiated the acquisition with Allsop who acted on behalf of the Vendor.

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With the East Midlands commercial property market continuing to progress, not only are we now seeing an increase in the number of parties looking to take space but we are also seeing an increase in the speed with which transactions are being agreed.  

The recent letting by Tim Gilbertson of FHP of premises at Town Street in Sandiacre exemplifies this and shows the ongoing progression of the market. 

Instructed by a London based property company, this property had stood empty on the market for some time.  However, after providing clients with the right advice to refurbish the premises, a letting was agreed and completed simultaneous to completion of the refurbishment works showing the speed with which transactions are now being agreed and how, as has always been the case, perfect presentation is essential.  

Tim Gilbertson commented: 

“When asked to market this building my first reaction was that it would be well received in the market given the lack of space of a comparative size throughout Nottinghamshire and Derbyshire but only if refurbished. 

The building presented extremely poorly and needed not only upgrade and refurbishment but also simplification to provide clear working space and well proportioned and presented offices. 

Clearly, whilst there was a substantial cost for the refurbishment works proposed, these were far outweighed by the impact that empty rates had had on the building for standing empty for such a period of time and therefore it was essential to put together a strategy which would see quick occupation and provide not only income but also prevent the further impact of empty rates liability. 

I was delighted therefore that our clients followed my refurbishment advice and I could then agree terms and instruct solicitors during the early stage of the refurbishment process with the deal completing simultaneous to completion of the refurbishment. 

The deal concluded sees locally based company, Hydroscand Limited moving to larger premises to satisfy their growing order book and a letting to an expanding local company seems apposite given the background of this building.” 

 Hydroscand’s UK Director, James Richards, commented: 

“We are delighted to have completed on the property which shall serve as our distribution centre for our Hydraulic Service Centres across the UK and Ireland as well as offering a first class service to our growing external customer base.  Along with our HQ functions, we shall be proud to open a showroom at the site in the coming months to showcase our quality products and extensive hydraulic machinery range.” 

For further information on the deal or to see how FHP can help you with your property requirements and disposals then please contact Tim Gilbertson on 0115 507577. 

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Vision Express, Costa Coffee and OFFICE are opening new stores at Intu Victoria Centre in Nottingham city centre, benefiting from the shopping centre’s £40 million refurbishment and remodelling plans.

Vision Express and Costa Coffee are now open relocating within the centre to 3,250 sq ft and 2,034 sq ft spaces respectively, in the North Mall. Shop frontages in this section have been realigned, opening up the area and giving customers a clear, uncluttered view, improving visibility and offering greater appeal.

OFFICE has moved to the centre from Bridlesmith Gate in Nottingham and are due to open in early October. The major shoe retailer will convert its previous store to an OFFSPRING store, which is OFFICE’s premium trainer offering.  At Intu Victoria Centre, OFFICE is taking 4,258 sq ft, plus 1,751 sq ft separately for storage and staff facilities.  The young and fashionable shoe brands will be a desired addition to the tenant mix, which already includes Monsoon, Topshop and recent openings Superdry and Urban Outfitters.

Alan Pearson of FHP commented: “Vision Express and Costa Coffee have both traded well from the Intu Victoria Centre for a number of years and have relocated to make way for the centres new catering quarter, scheduled to open late Summer 2015.

OFFICE have been undersized in Nottingham for a number of years and their relocation demonstrates the confidence in the Intu Victoria Centre’s remodelling following the opening of both Urban Outfitters and Superdry.  OFFICE is an excellent addition to the centre.”

FHP Property Consultants and JLL act on behalf of Intu with respect to the Intu Victoria Centre and Broadmarsh Shopping Centre, Nottingham.

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 have recently concluded the sale of Unit 13 Churchill Business Park in the Colwick area of Nottingham to Reprotec, a long established printing and document management company already based within the Colwick area.

Following strong trading Reprotec have expanded their operations, purchasing this good quality property to house further office staff as part of their expansion plans.

Mark Tomlinson of FHP Property Consultants, who acted on behalf of the Vendor in the sale, commented:-

“Reprotec have been active within the market for some time looking for a suitable opportunity to accommodate their expansion plans.  I am delighted that they have now found the right solution to accommodate this growth.

This property has sold relatively quickly and this is a trend we are seeing on many freehold opportunities in the market at this time.  For prospective Purchasers there are not many freehold opportunities on the market and therefore we are seeing increased competition for the properties which are being offered for sale.  This is resulting in a steady increase in values and vastly reduced marketing periods for Vendors.

Hopefully this trend continues and I am confident that we will see freehold appetite in the office market continue, therefore values can continue to climb back up to levels seen prior to the recession.  We are some way from that stage at the moment but progress is certainly being made”.

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Nottingham’s Intu Victoria Centre is bringing a host of top restaurant brands to the city for the first time as part of its £40 million refurbishment and remodelling project.

A new restaurant quarter, covering two floors with up to 12 units, will open in late Summer 2015 and is located around a new feature entrance at the Grade II-listed Clock Tower.

The enhancements to the immediate area include a new elevation and facade improvements, improved lighting and access onto an existing piazza area adding to the vibrancy of the street scene and location.

Handmade burger Co, Coast 2 Coast and Tortilla have signed for the lower level, benefiting from proximity to the piazza, with Ed’s Easy Diner on the upper level facing the mall.

All four restaurant chains are new to Nottingham, reflecting Intu’s ambition to bring fresh and exciting concepts to its customers, providing them with perfect shopping centre experiences.

Martin Breeden, regional director for Intu, said: “At Intu Victoria Centre, we already have the strongest footfall and the highest sales densities in the city.  Our refurbishment is consolidating Intu Victoria Centre as a prime pitch as shown by the recent openings of Urban Outfitters and Superdry. The clock tower dining area will provide another great reason to come to the centre and spend more time there.”

Alan Pearson, Director at FHP commented: “The remodelling of the Clock Tower entrance and creation of the Catering Quarter will be a great addition to the Intu Victoria centre.  There has been strong leisure demand in the city in the last year which is demonstrated by the new names we have been able to attract to the centre.”

FHP Property Consultants and JLL act on behalf of Intu with respect to the Intu Victoria Centre and Broadmarsh Shopping Centre, Nottingham.

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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Lucinda Hancock of FHP was invited by RICS Matrics to present the benefits of RICS student membership and how to get involved with RICS Matrics at the recent Nottingham Trent University Real Estate postgraduate induction day.

Almost one hundred students embarking on one of several pathways offered by the School of Architecture, Design and the Built Environment were in attendance where Lucinda presented alongside members of the local RICS team.

The speakers provided an introduction to the RICS and the routes available towards obtaining Chartered status before Lucinda outlined the benefits of student membership and joining RICS Matrics. As an alumni of the university, Lucinda was then able to relate to her experience of the postgraduate course during a concluding Q&A session to discuss further queries raised by the staff and students in attendance.

Lucinda Hancock of FHP commented:

“It was great to be back at NTU.  Student membership welcomes students into the world of surveying by providing access to events, information and support as you progress through education, training and your career on the pathway to chartered status.  Support is available via committee, regional and national initiatives as well as regional trainers and RICS membership teams.  Matrics offers a full programme of activities including annual charity events and seminars on key issues within the industry.”

For further information with respect to getting involved with RICS Matrics Nottingham, please contact Lucinda Hancock of FHP Property Consultants on 0115 841 4794 or lucinda@fhp.co.uk.

END

Lucinda Hancock

30 September 2014

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