COMMERCIAL INVESTMENT MARKET HOTTING UP WITH LATEST CITY CENTRE SALE
Mark Tomlinson of FHP Property Consultants is delighted to announce the sale of a small office investment at King Edward Court in the heart of Nottingham City Centre. The property was let to Uber and achieved competitive bidding given the perceived security of the income and this development as a long term office location.
Mark Tomlinson of FHP Property Consultants commented:
“We received very strong levels of interest for this building with competitive bids taking place within 4 weeks of marketing. We achieved well over the asking price at an investment yield of 6.5% showing strong demand in the sub £500,000 local investment sector.
From the changes to the entry cost of purchasing residential investments due to the stamp duty changes and the increasing scarcity of office properties in Nottingham City Centre due to conversions of many office buildings to apartments, we are now seeing increasing demand from local investors and those investors”.
Giles Davis of Geo Hallam & Sons, who acted on behalf of the purchaser, commented:
“The building fitted our client’s requirement in terms of location and lot size and we are delighted to have secured the property for them”.