AUCTION SUCCESS FOR FHP AND HEB AT COMMON ROAD, HUTHWAITE

Industrial/Warehouse News

Tim Gilbertson at FHP acting as joint auctioneer with Matt Hilton of HEB is pleased to confirm the sale of extensive warehouse premises just off the A38 at Junction 28 of the M1 Motorway at Huthwaite. 

Sold the day before the property was due to go to auction, the buildings offered extensive storage space of over 60,000ft² on a large site in a prime location.

Despite the condition of the opportunity which included a mix of older tired warehouse space, extensive offices plus some good quality newer stock, interest in the opportunity was extensive and competitive bidding was received. 

As a result the property was sold prior to auction at an acceptable figure.

Tim Gilbertson commented:

“We took this property to auction as due to its unusual configuration we had struggled to find the right purchaser initially for the building.  Whilst always receiving extensive interest in the opportunity, concluding a deal proved troublesome and therefore we advised our clients to look to the auction route to secure a quick sale. 

Pleasingly this advice proved correct, substantial interest was generated and a sale prior to auction was quickly concluded.”

Joint auctioneer Matt Hilton of HEB commented:

“We were delighted to assist with this disposal acting jointly with FHP.  Listing for sale by auction focused the minds of prospective buyers resulting in strong pre-auction interest and concluding the sale proved that auctions can be very effective when used correctly. This is the highest value property to be sold by any East Midlands based auctioneer so far this year.”

Stock levels around Junction 28 are certainly diminishing and there are a few outstanding requirements which remain unfulfilled.  Therefore, if any occupier is struggling or seeking to realise value from their ownership or relieve lease liabilities then we would be delighted to talk to them and increase stock levels and try and satisfy known requirements.