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Office News
FHP are pleased to announce the successful letting of Building One at The Phoenix Centre, situated within the well-established Phoenix Business Park in Nottingham. Acting on behalf of private clients, FHP has secured a new occupier for the 10,000 sq ft detached office building.
This latest transaction marks a continuation of a strong performance within the Nottingham office market during the first half of 2025, with FHP alone having agreed over 140,000 sq ft of deals in the year to date.
Building One at The Phoenix Centre offers high-quality, modern office accommodation within a short walk of the tram terminus and was marketed on a fully fitted basis—an increasingly attractive proposition for occupiers seeking turnkey solutions.
Mark Tomlinson, Director at FHP, commented:
“We are seeing a shift in market sentiment, with the wave of occupier rationalisation beginning to subside, as a result, we are seeing an upward trend in the average office deal size, with the average transaction size for the first half of 2025 representing a 40% increase on 2023.
Demand for best in class space remains, with the continued flight to quality among occupiers. This trend is expected to continue, highlighting the importance for landlords to present office buildings to the highest standards. The letting of The Phoenix Centre is a clear example of how well-presented, high-specification office space continues to attract strong interest from occupiers.”
The landlord is a private client of Tim Harries & Partners, who were joint agents in the letting, and Tim Harries added:
“My clients are long term investors who have retained ownership of a number of good quality office buildings in strategic locations as an integral part of a balanced regional portfolio, and this latest letting returns the portfolio to 96% occupancy by income. This is expected to hit 100% occupancy by year end as business confidence continues to stabilise and new lettings complete.”