FHP MAKE A POINT IN THE MIDLANDS!

Property Management News

The Property Management Team at FHP can announce they have recently been instructed on two schemes within the East Midlands.  The Point and Midland Retail Park, separately owned by regional developers, are two stand out developments during times when very few new schemes are coming onto the market.

The first scheme, The Point, has been developed by Bournston Developments Limited whom are retained clients of FHP.  This is an architectural significant office building located in West Bridgford, which is an affluent suburb of Nottingham located approximately 1.5 miles from the City Centre.  The property is sited on the junction of three main arterial routes – Loughborough Road, Wilford Lane and Melton Road and provides easy access to the City Centre and the M1 Motorway. 

David Powell, Associate Partner within the Property Management Team commented that:

“The instruction of FHP on the management of this property is testament to our ability to provide a quality service that such a building merits.  The property is not without its challenges but by being able to draw upon the experience within our management team.  We have been able to overcome these and tailor the service provision to the specific needs of the tenants through the setting up of an appropriate service charge structure which is transparent, competitive, and provides existing and potential tenants with the reassurance of costs and services onsite.  We are also able to allow our client to concentrate on their core business activities by administrating and collecting  all expenditure and income on their behalf”.

The property currently has two tenants, The Stroke Association and Scotts Distribution Limited, with the potential for up to seven more tenants.  The space is available on flexible terms and provides for Grade A office accommodation with FHP also being joint letting agents.

The second development is known as Midland Retail Park and is located on Midland Way just off Ilkeston Road on the outskirts of Nottingham City Centre. Here FHP are managing the long leasehold interest on behalf of their clients, Westque Park Holdings Limited, and are also retained letting agents.  The 6 ground floor retail units are sited on a new development of student accommodation which also includes car parking and landscaped areas.  The retail units total 18,934ft², one of which has been let Lidl who have taken 11,169ft², a second to Dominos, and a third of which has been let to Greggs.

Rob Spencer, Partner in charge of the Property Management Department, commented that:

“This site will provide a new retailing destination in an area that has further developments planned due to its close proximity to the Jubilee Campus of The University of Nottingham.  Our instruction has involved the setting up of the service charge structure for the site along with dealing with initial tenant fit out and operational issues.”

He further commented that “These two new instructions really highlight the diversity of services that the FHP Property Management Team are able to offer, and we are of course delighted to build upon and create new working relationships with these clients”.