With refurbishment works starting in the next few weeks on this prime building which sits just off the M1 at Junction 27, FHP have been appointed to dispose of a high calibre unit of just over 15,000ft² for warehouse or industrial purposes.

To be presented in immaculate ‘as built’ condition, a new lease will be offered on this prime building which sits just off the M1 at Junction 27.

With refurbishment works anticipated for completion in late Summer early interest is sought. 

Acting on behalf of Wilson Bowden Developments, Tim Gilbertson BSc (Hons) MRICS, Director of FHP is pleased to announce that a further unit has been let on the park.  Unit C, Blenheim Court, one of the last of the small units available on the scheme has been let to neighbouring occupier ASL Powder Coating UK for their expansion.

ASL Powder Coating UK were one of the original occupiers on the site and through their continued success and expansion the need for more space arose and pleasingly we were able to agree terms on an adjoining building.

The 12 unit Blenheim Court scheme therefore is currently at 100% occupancy which also means that there are only two units immediately available on the site, Unit 4A and Unit 4H.

Tim Gilbertson commented:

“I was delighted to see this deal over the line as it leaves us merely with two units available on this scheme at present.

With the benefit of being set literally adjoining Junction 26 of the Motorway and within quick access of the centre of Nottingham, we now merely have a unit of 9,000ft² and one of 23,000ft² immediately available, both of which can be purchased or rented.

However, with the market certainly improving substantially, almost on a daily basis, we are now seeing increased demand for design and build deals on the site and with our clients still having 17 acres available for development we strongly suspect that one of the next deals on Blenheim Park will be a design and build warehouse or industrial unit.

The continued shortage of good quality stock in well positioned locations is a real hindrance to the improving property market and therefore for our clients to have the ability to offer bespoke built to suit solutions on this site is a real benefit.

We very much hope therefore in the near future that we will be confirming design and build deals on the site where occupiers take advantage of the ability to have a unit purpose built in what remains one of the prime locations around the City.” 

For further information on this deal or to enquire about either of the existing available buildings or a built to suit option which can be rented or purchased on the site then please contact Tim Gilbertson on 0115 9507577.  

Tim Gilbertson of FHP has been appointed to market a rare visitor to the commercial property scene, a superbly located warehouse/production unit of just over 11,000ft² set within minutes access of Junction 29A of the M1.

Offering detached production/storage space on a securely fenced and gated site, this is a rare chance to buy high calibre space constructed in 2007. 

Opportunities on this popular estate come up very infrequently and given its proximity to the M1 we hope to see it sold with equal speed!

The need for perfect presentation is a comment often made by agents when putting any form of property onto the market, be it industrial, warehouse, office or retail space.  Proof in point came from a recent deal completed by Tim Gilbertson of FHP at Glaisdale Point on Glaisdale Drive Industrial Estate in Nottingham as by presenting the building in superb condition the new occupiers, Eight Days a Week Print Solutions Limited were secured, fighting off competition from less well presented buildings in the process.

The deal sees this high calibre building of 10,000ft² let on a new 10 year lease, a great deal for the landlords and also a great deal for the tenants as it enables them to continue with their rapid business growth and expansion.

Tim Gilbertson of FHP who dealt with the letting commented:

“Often when landlords have empty buildings, no rental income and the prospect of paying empty rates they can baulk at the prospect of spending more money to refurbish and present in the best possible condition.

My advice though is always that prefect presentation is essential in a poor market, but equally important in an improving market which we currently find ourselves in, to provide the best possible chance of a quick re-letting and a long term deal being secured.

The letting of Glaisdale Point proves this theory as by presenting the building in superb condition, literally in the same order as when first built has proved key to securing our new occupier when they were considering other less well presented premises too. 

Tenants do not expect to have to undertake improvement works on a premises, quite rightly so, and it is particularly gratifying that when recommending to a client a full refurbishment programme that that programme then effectively secures a letting and the resumption of income on an investment.

The letting all round is good news that sees a further high calibre unit let and off the market, further strengthening the improved local commercial property scene but more importantly sees a locally based company expanding and relocating as they react positively to the improving economic conditions in the wider market.

We wish them well in their new home. 

Pleasingly though this is not end of the good news on Glaisdale Point as for the same client we have a further unit available, Unit 2 which is slightly larger at just under 16,000ft² which again has been presented in immaculate order and is ready for occupation now.  I would welcome any enquiries from parties who want to locate to one of the best estates and certainly one of the best presented units in the region.”

For further information on the deal for the availability of Unit 2, Glaisdale Point please contact Tim Gilbertson at FHP on 0115 9507577.

Tim Gilbertson of FHP and Phil Randle of Salloway are continuing to drive forward Clowes Developments prestigious Ivanhoe Business Park at Ashby-de-la-Zouch, with a fresh push on marketing coming off the back of continued strong interest. 

Benefitting from a superb central location just off the M42/A42 at Junction 13 in Leicestershire, the site has terrific links to Birmingham to the west and the M1 to the east whilst remaining within minutes access of local services in the thriving market town of Ashby-de-la-Zouch.  Already the development has attracted substantial interest and now is the home to a range of occupiers in both the office, warehouse and manufacturing sectors.

Ivanhoe Business Park has thrived even during the darkest days of recession over the last few years and with property demand significantly increasing in early 2014 and supply of quality office and industrial space and indeed design and build opportunities throughout the County and the East Midlands as a whole in poor supply, the future seems bright for Ivanhoe which can offer office space to purchase or rent from as little as 3,000ft² and upwards and warehouse or manufacturing space from 7,000ft² and beyond, again to rent or purchase.

The joint agents are thrilled at the prospect of encouraging further new occupiers to this prime site.  Tim Gilbertson of FHP commented:

“For both myself and FHP as a whole it is great to continue our established working relationship with Clowes Developments on another of their schemes in the Midlands. 

Having brought significant success to other sites throughout the region I see no reason given the quality of location, product and design and build options for this site that we cannot bring continued success to this scheme also.

In recent years Ivanhoe has bucked the trend and seen terrific growth bringing both local and national occupiers to this prestigious scheme which sits in a prime location just off the A42, whilst remaining most importantly, within minutes of the local facilities that the thriving market town of Ashby-de-la-Zouch can offer.

That may seem to be a minor point, but having banking and local facilities on the doorstep of the scheme is of key benefit to any occupier who is also seeking a destination which provides terrific links to the national motorway network, regional Cities of Nottingham, Derby and Leicester and also quick access to Birmingham and East Midlands Airport.

We have the ability on the scheme to offer office, production or distribution users prime product in a superb location and have existing office stock immediately ‘ready for occupation’ plus the ability to offer design and build warehouse or manufacturing space within a matter of months on either a purchase or rental basis.

The quality of location is coupled with the highest calibre of construction, with the specification of all the space on site unrivalled and for any occupier seeking a quality location and quality space for their business then Ivanhoe must surely be a first port of call. 

Occupiers only need to look at the testimonies of other existing occupiers on the scheme to recognise what a great opportunity Ivanhoe Business Park offers and we very much hope to be announcing details of further occupiers in the near future.”

James Richards of Clowes Developments commented:

“Ivanhoe Business Park has been a terrific success for Clowes Developments and we have no doubt that moving forward similar success will be encountered as we embark upon the next phase of development at the site. 

Our agents already have initial interest in both the remaining office space and design and build deals to purchase or rent on both industrial/warehouse and office accommodation.  However, as we have two office buildings remaining, each available to purchase or rent, and there is still a great opportunity for any interested party to secure one of these before deals are agreed elsewhere.

In terms of the future, given the level of interest on a build to suit basis for both industrial/warehouse and office space we very much hope that as the market continues to improve, demand rises and supply diminishes still further that design and build opportunities which can be delivered within a fantastically shorter time period will be the way forward on this scheme. 

For example, we already have a fully consented warehouse/industrial unit of 40,000ft² ‘ready to go’ which we could hand over the keys upon within 6 months of a deal being documented.

The ongoing lack of supply in the region suggests that design and build is the way forward and with our track record and ability to perform quickly, we very much hope that we will be announcing deals shortly.”

Joint agent on the scheme, Phil Randle of Salloway commented:

“The business park has bucked the trend during the recession with success achieved on the warehouse/industrial and office sectors.  Negotiations are progressing well with three companies for design and build facilities and I expect more good news to be delivered by early summer.”

For further information on the scheme or to discuss your office, manufacturing or warehouse needs then please contact Tim Gilbertson on 0115 9507577.

FHP Property Consultants are delighted to announce the letting of 140 Vernon Road, a property owned by the Bridge Estate.  The property has been let to JMD Textiles Limited, a local Nottingham based company who offer a large range of bedding and linen products as well as various home and garden goods.

Mark Tomlinson of FHP Property Consultants commented: –

“140 Vernon Road offered 15,000ft² of affordable warehousing accommodation on a secure site of 1.2 acres.  This is a rare proposition in the market around Nottingham City Centre at this time and I wasn’t surprised by the interest levels which we received for the site.  From the time of our initial instructions to completion of the lease was only 3 months and I am delighted to have achieved a letting to such a good quality tenant such as JMD Textiles.”

FHP Property Consultants are delighted to announce that full occupancy has been achieved at Morris Court in Colwick, a range of light industrial units constructed in 2007 providing units ideal for local small to medium sized businesses.

Two of the final units have been leased by Portal Systems UK Limited and Gedling Homes and there are now no further vacancies onsite. 

Mark Tomlinson of FHP Property Consultants commented: –

“This positive trend which we were seeing towards the end of last year has continued into 2014 and in the Colwick area has really benefitted from an increase in confidence among local SME’s.  Last year in the Colwick area alone we completed 10 deals achieving full occupancy on City Business Park and 10 Great Northern Way respectively in the process, Morris Court is the latest estate to achieve full occupancy.  

There is now a serious lack of modern industrial units to rent in the Colwick area of Nottingham or further afield for that matter to service the local market.”

Chesterton Humberts were joint agent on the Morris Court scheme.

At a time when the industrial and warehouse market in the East Midlands is mirroring the economy as a whole and increased activity is being seen across the board, Tim Gilbertson of FHP is delighted to confirm proof of further improvements in the local property market with the sale of a substantial distribution building on a large site on Cotes Park Industrial Estate just off the M1 at Junction 28 and the A38.

Previously occupied as a transport/haulage base this substantial property extended to just under 70,000ft² and sat on a significant site of over 4.5 acres offering a rare visitor to the market combining a prime location with a large site offering scope for further development.

The site and premises have been sold to PMW Property who plan to redevelop the site and offer it out to rent in its entirety or in various size combinations. 

Tim Gilbertson of FHP acted on behalf of the owners and commented:

‘This is the third major distribution base in the Nottinghamshire/Derbyshire area that I have sold or let already in 2014, proof itself of the improving market and the upturn in demand that commercial property is encountering in the same way as the economy as a whole.

This opportunity offered basic warehouse accommodation but with the key added value being created by the extensive site upon which the building stood offering scope for external storage or, as is more likely in this particularly case, the extension and development of the site.

Benefitting from a superb location this favoured industrial estate just off Junction 28 of the M1 Motorway, I am delighted that PMW have purchased the site and I wish them well with their plans for the future.

With the disposal of this building this is the third major distribution base that I have let or sold already in 2014 with the three deals totalling over 275,000ft² of space disposed of which can only bode well for an improved market.

From our perspective the concern now comes in terms of lack of supply of space going forwards and I would be delighted to discuss the market with any property owner seeking to dispose of their industrial or warehouse premises as certainly there is real demand in the market and the limited supply is already seeing prices and rents starting to nudge upwards.”

Purchaser Mike Wrigley of PMW Property, commented:

“I am delighted to secure this exciting opportunity at a time when the property market is seeing real improvements.  Demand is certainly rising and stock levels are so poor that we are already seeing rents and capital values nudge up as a direct result.

We very much see West Way as being an ideal solution for any number of potential occupiers in the future as we look to fully refurbish and upgrade the premises enabling us to offer space out from 10,000ft² and upwards.

With the large site available there is scope for extension of the current premises too and perhaps even the creation of new build space as well and we look forward to releasing our plans shortly.

We have asked FHP to continue with the marketing of the site on our behalf and no doubt Tim Gilbertson and Laura West will do a fine job in encouraging new interest quickly.”

For further information on the deal or to see how FHP can assist you with the marketing and sale or letting of your premises please contact Tim Gilbertson on 0115 9507577.  

With demand for large industrial and warehouse units continuing apace in the New Year, available stock keeps diminishing as deals are being concluded swiftly in the early part of 2014.

Tim Gilbertson of FHP is pleased to announce the further disposal of 7-11 Lower Oakham Way on the Oakham Business Park in Mansfield with a unit of over 90,000ft² on 6.35 acres now let.

This deal coupled with a letting announced earlier in the month at Common Road in Huthwaite has seen over 200,000ft² let by Tim Gilbertson since the turn of the year.  With both properties let to manufacturing companies and jobs therefore secured and indeed created this hopefully heralds further positive news for both the property market and the economy.

The deal concluded sees this superb building on a large site let on behalf of Pall Mall Estates, long term clients of Tim Gilbertson. 

Tim Gilbertson at FHP who sourced and completed the deal commented:

“The second major letting that I have undertaken at Junction 28 within the last few weeks sees over 90,000ft² of space let.  A terrific deal for my clients as a 10 year lease without break was agreed but equally the tenants have secured themselves a good quality building on appropriate terms through their agent, Jake Huntley at Capita.

Whilst always pleasing to secure the disposal of such a significant building and indeed for such a long term, my immediate concern now lies in trying to satisfy any number of ongoing enquires for between 50,000ft² and 150,000ft² on the M1 corridor.  Certainly over the last 6 months this sector has completely changed to the degree that there is so little stock available that potential occupiers are fighting hard to secure any appropriate buildings. 

This is a complete sea change for landlord’s now from the conditions encountered over the last few years when the market was very much in favour of tenants and purchasers.  Now though the market has shifted to favouring landlords, owners and developers as the economy appears to be improving further, creating additional demand.  Against a backdrop of limited supply this is having an obvious and noticeable effect on the market.

What I am finding as a result of the lack of stock is the number of parties that I am now talking to on a design and build basis on the various schemes we have around Junction 28 and the M1 corridor.  With the ability to fast track deals and construction times and create a ‘perfect property’ for an occupier on a leasehold or freehold basis, provided a tenant is prepared to agree long term occupation, that it really does appear with the ongoing lack of good quality existing space that design and build deals will be the way forward throughout much of 2014 and beyond. 

Pleasingly we have any number of sites in the region that can satisfy these design and build deals but equally I would urge any major property owner thinking of marketing their warehouse or industrial unit for sale or to let to contact me as there are any number of parties in this sector looking for space at present and the buildings are simply not available.

For further information on the deal or to see how Tim Gilbertson could help you with the disposal of your industrial or warehouse building please contact us on 0115 9507577. 

MIPIM is only just underway, but you can tell already that there are more people here and that they are taking a more progressive approach to the market. 

On the first morning, I had meetings with one asset manager and one developer/investor, both dealing principally with industrial assets.  Both of them are looking to invest within the East Midlands and they are actively looking for asset management opportunities. 

The feeling here is that the market has changed noticeably since last summer and has become very competitive already.  While the improved sentiment we are seeing here is not yet visible to the same degree in occupier markets, it is on the way and people are looking to take positions now rather than ‘after the event’.  

The market will open up opportunities for people who have been constrained by not being able to trade their property.  There will be some flexibility for an exit now. 

There are some challenges ahead.  The problems of the past few years mean the market lacks capacity to deliver which will bring pressures on prices and deliverability. 

What MIPIM tells us already is that this is a market on the move.

Acting on behalf of the former owners, Tim Gilbertson of FHP is pleased to announce the sale of a substantial site and premises on Newmarket Drive off Ascot Drive, Derby.  Offering a prime pitch on one of Derby’s favoured industrial estates, Tim Gilbertson was appointed to dispose of a former timber trade centre incorporating warehouse, trade counter and office accommodation all on a large site of approximately 1.64 acres.

Prime sites such as this come to the market on such rare occasions that strong interest was anticipated and certainly strong interest was received with a number of parties disappointed that they could not secure the opportunity.

Given the prime location and extensive site available this shows again the strengthening market and as a result similar opportunities to market are sought.

Tim Gilbertson acted on behalf of the former owners commented:

“Having previously sold similar sites for our clients elsewhere when deemed surplus to requirements I was delighted to take on this opportunity.  Particularly so as given the prime location and the scarcity of opportunities such as this in the City my feelings were always that this site would be well received by the market and strong interest generated.

Through our swift and thorough marketing campaign this certainly proved to be the case and a sale was quickly agreed which progressed swiftly and as a result of the interest generated I have a number of parties now seeking similar space in the area who are finding opportunities hard to source.

This again shows the strengthening demand in the market place and the lack of supply and should any parties be considering placing their premises on the market in Derby at present then I would be delighted to hear from them as I have a number of unfulfilled requirements as a result of the marketing of these buildings plus site.

We wish the purchasers well with the site.”

For further information on the deal or to see how FHP can help sell your commercial property then please contact the team on 01332 343222.

Acting on behalf of Cooper MEDC, Laura West of FHP Property Consultants is pleased to report that 75% of their former site is now sold or under offer!

Nottingham-based Cooper MEDC recently relocated their operation to a 67,000ft² warehouse in Sutton-in-Ashfield. The move was brought about having undergone significant expansion within the business and the need to find larger premises which were sited under one roof.

The former site, which is located just off Brookhill Road within the main industrial estate in Pinxton provides a range of fitted workshop/industrial accommodation with dedicated car parking and yard space.

The units is now home to Complete Manufacturing Services Ltd and Ashfield Powder Coatings as well as Mathbirk International Ltd. The latest deal to be agreed is to a well-known local occupier related to the furniture industry.

Laura commented:-

“Interest in these units has been predominantly local, with most of the occupiers already being residence within the estate. We have seen a desire from cash-rich companies who have taken advantage of the opportunity to buy property freehold, whilst prices remain relatively low. The units at Colliery Road allow for an occupier to remodel the existing layout and refurbish the accommodation to a style that suits their business needs.”

“I have been really pleased with the interest that has been received in the site and I am hopeful that the last two remaining units will soon be occupied.”

For further information or to register your interest for future availability within the estate place contact Laura West on 07917 460029.

END

Take up of space at the Amber Business Centre, Riddings has grown from strength over the last few years. The 36.1 acre site was purchased by Commercial Estates Group (CEG) in 2010, since this time the estate have welcomed 40 new occupiers with over 200,000ft² of industrial/warehousing premises let. 

The Amber Business Centre provides the perfect solution for light industrial and warehousing occupiers. The units are available in a wide range of sizes and layouts, are fully fitted and conveniently located close to the M1 corridor.

The estate offers a range of accommodation to suit every occupier and through proactive and pragmatic management, many of the tenants are continually expanding on the park.

Laura West, Associate Director at FHP Property Consultants comments:-

“I have personally involved in the estate since 2006 and have seen a number of new tenants join the Amber Business Centre. The success story is down to the ability to offer a wide range of fully fitted units which are immediately available. CEG have a very hands on and dynamic approach when it comes to estate management with tenants being reassured that they are joining an estate where support is on hand 24 hours a day.

I am confident that through attracting high quality occupiers to Amber Business Centre it will play a crucial role in boosting the local area’s economy”

The team at Amber Business Centre carefully listen to the demands of local occupiers and pride themselves on delivering a first class service – see more at www.amberbusinesscentre.co.uk

For further information or to register your interest for future availability within the estate place contact Laura West on 07917 460029.

Acting on behalf of longstanding clients Tim Gilbertson of FHP is delighted to confirm the first significant industrial/warehouse letting of 2014 which sees over 100,000ft² of space let at Junction 28 of the M1.

The deal concluded clearly reflects the improving industrial and distribution market locally and with space at a premium and demand continuing to improve a number of similar deals are in the pipeline.  Great news on face value but ultimately the sector is faced with stock shortages and as a result the pendulum is now swinging in favour of landlords and developers after many years of being a tenant/purchaser friendly market.

Tim Gilbertson commented:

“I was delighted to bring this property to the market and knew immediately that it would fill a gap due to the lack of competing stock in the area.

Set in a prime location just off the M1 at Junction 28 and adjoining the A38, whilst slightly dated the building benefitted not only from a great location but also a substantial yard.  These key factors plus the improving demand in the market place and lack of competing space encouraged early interest in the building and as a result a deal was agreed with local furniture company Celebrity Motion Furniture to enable them to expand and relocate from their base on the other side of the motorway at Alfreton.

The deal agreed sees a 10 year lease signed and with our client undertaking various alterations to the building to adapt it specifically for the tenants needs we are sure that it will serve them well for the future.

The overriding sentiment is that the market is improving, demand is rising and supply is falling and with any number of unsatisfied requirements locally I would be delighted to hear from any landlords or vendors looking to put their property on the market to take advantage of what seems to be the first improved trading conditions for many years. 

I wish Celebrity Motion Furniture well in their new base and have no doubt that it will serve them well for the future. 

Philip Westin-Hardy of New West Chartered Surveyors acted on behalf of the tenants, Celebrity Motion Furniture.

For further information on the deal and to see how FHP can assist you with the disposal of your premises please contact Tim Gilbertson on 0115 9507577.

FHP Property Consultants are delighted to announce the letting of the final vacant units at Colwick Business Park to A&G Café Vero, a local supplier of coffee and coffee machines to local cafés and restaurants.

Mark Tomlinson of FHP Property Consultants commented: –

“The local industrial market around Nottingham City Centre continues to improve and this is marked by a number of recent lettings in the area which has seen availability of good quality commercial units drop substantially.

I expect this trend to continue into 2014 and for good quality units to be in increasingly short supply.”

FHP Property Consultants have recently acquired an industrial unit at Gresham Road, Derby, on behalf of gaming experts, Games Warehouse Limited.

The deal was brokered by Lucinda Hancock of FHP who commented:

“We have worked with Games Warehouse Limited for a number of years and having previously acquired their new offices at Pride Park a year ago, relocating their warehouse facility concludes their property strategy going forward.”

Games Warehouse Limited were enthusiastic to source an industrial unit within a relatively short timescale that would provide additional good quality storage space in close proximity to their existing offices.

Mike Walmisley of Innes England acted on behalf of the landlord and commented:

“We are very pleased to welcome Games Warehouse Limited to the estate with their aim to move their storage facility from Nottingham to nearer their Pride Park head office.”

Bernard Taylor, Finance Director of Games Warehouse Limited added:

“Lucinda was innovative and proactive in her approach and has added value throughout the acquisition.”

For further information with respect to this letting , please contact Lucinda Hancock of FHP Property Consultants on 0115 841 4794 or lucinda@fhp.co.uk.

We are pleased to bring to the market a rare opportunity to rent good quality warehouse accommodation with a large yard just off Lenton Lane in Nottingham.  Set in a prime location the building is immediately available and extends in total to approximately 1,662m² (17,893ft²).

With the ongoing lack of stock of good quality larger industrial or warehouse units becoming critical amidst improved demand, hopefully this new opportunity which will be available shortly on Heanor Gate Industrial Estate in Derbyshire will be well received. 

Offering good quality space to be completely refurbished of just over 37,000ft² a new lease will be offered on this building which has the benefit of a large yard and car park and is fully fitted throughout. 

Further details to be confirmed shortly.

FHP Property Consultants are delighted to announce another two occupiers for the popular and successful Langham Park Lows Lane Development in Stanton by Dale.

Langham Park Developments came up with the micro-tech concept in 2006 to give small businesses the chance to buy or lease new small, well-specified buildings.

The terrace of eight units are unique and have always proved to be extremely popular with small businesses. The units, which start at 736ft², were designed for a number of uses, including workshops, storage or offices.

The latest occupiers to the estate include Paul Gaughan Architects who have relocated from Ilketon town centre and Saviour Engineering who are already located on the estate. Both occupiers have seen their businesses expand over rent years and as a result needed additional space.

The transactions were handled by Associate Director at FHP Property Consultants, Laura West who commented:-

“Having been involved in the initial disposals in 2006 it has been a pleasure to handle the marketing of these units for the second time around. They are extremely well specified and conveniently located. The demand for this area for good quality premises continues to increase as a result of the overall quality of the scheme and the ability to provide units targeted specifically at the local and regional markets.”

For further information or to register your interest for future availability within the estate place contact Laura West on 07917 460029.

END

FHP Property Consultants and pleased to announce instructions to market an exciting and rare opportunity to occupy a very well specified, modern and detached industrial/trade counter unit on the popular Oakham Business Park, Mansfield.

The property totals 2,280m² (24,542ft²), which includes a clear span warehouse with an eaves height of 7.5metres, fully fitted trade counter area and two storey offices. The property also benefits from a fenced and gated yard area and allocated car parking.

Available to rent or purchase, this property must be viewed to appreciate the quality and full extent of the accommodation offered.

For further details please contact Laura West on 07917 460029. 

END

Acting jointly with Matthew Liggins of Musson Liggins, Tim Gilbertson of FHP is delighted to confirm a successful start to 2014 with the sale of good quality warehouse space on Moorgreen Industrial Estate.

In a market where opportunities to buy good quality stock are limited, this building attracted attention from the off and through extensive marketing the eventual local purchaser was located quickly.

With the deal completed within a matter of weeks from instruction of solicitors, the sale hopefully heralds an uplift in demand for the year as certainly 2013 ended with a flourish of more enquiries and more deals agreed. 

The deal was brokered by Tim Gilbertson of FHP who commented:

“I really hope that this deal signifies a prosperous year as the economy seems to be picking up again. 

We have noticed in the last quarter of 2013 a substantial uplift in enquiries and this trend seems to be continuing into 2014. 

With good quality space in poor supply and demand increasing it does appear as if market conditions are changing after any number of years of tough trading conditions.

We are keen to take on more stock to meet increased levels of demand and would be delighted to hear from any potential vendors or landlords.”

Joint agent on the sale, Matthew Liggins of Musson Liggins commented:

“It was a pleasure working with Tim and together we have secured a positive outcome for our client in an improving but still relatively fragile market where all enquiries have to be treated seriously.”

For further information on the deal or to see how FHP can help you sell or let your industrial or warehouse space then please contact Tim Gilbertson on 0115 9507577.   

On behalf of long standing investor clients FHP will shortly be bringing to the market good quality warehouse or industrial space on Wimsey Way in Alfreton of just under 20,000ft².

Available to purchase or rent the building offers a good standard of accommodation, to be refurbished shortly and with the benefit of parking to the front elevation and separate delivery yard to the rear of the building, all set on a secure site.

Early interest is sought with the current tenants due to vacate shortly. 

FHP Property Consultants are delighted to announce the letting of Unit 7 Acorn Park, a traditional warehouse/light industrial unit on the Lenton Lane Industrial Estate just off the Ring Road (A52) near the Showcase Cinema.  The property has been let to Glitter Pantomimes, a company relocating from Liverpool to service the local theatres.

Mark Tomlinson of FHP Property Consultants who concluded the letting commented: –

“The City Centre and City Fringe industrial market has been fairly buoyant over the last 12-18 months and I have concluded various lettings of local small to medium sized companies where we are seeing some positive activity, the general feeling being that the worst is over and it is time to move forward and think more progressively about their businesses”

FHP Property Consultants are delighted to announce the letting of Unit 7 Little Tennis Street in the Colwick area of Nottingham City Centre to Alan Tully Cars, a local car sales company having been established in the area for some 15 years.

The unit will be used for storage of cars in conjunction with Alan Tully Cars online sales business which is seeing increasing levels of activity.

Mark Tomlinson of FHP Property Consultants commented: –

“This letting is further proof of a large increase in activity among the local market in Nottingham City Centre.  We have especially seen an increase in activity in Colwick having concluded 7 transactions in this area alone over the last 4 months.  We are now seeing a real lack of supply of good quality options for local companies in the area with the majority of available stock now being more secondary.”

FHP have been appointed by Property Alliance Group in conjunction with Lambert Smith Hampton to market prime warehouse or production space on Blenheim Industrial Estate.

Set just off Junction 26 of the M1 Motorway this superb building offers high calibre two storey offices interlinking with fully fitted production space all set on a large site with yard and car parking.

Immediately available on a new lease, or potentially with the option to sell the long leasehold interest the building extends to approximately 38,000ft² plus extensive mezzanine of just over 8,000ft².

Given the lack of supply in the market and the increased activity being felt in this sector, strong interest is anticipated.

Mark Tomlinson of FHP Property Consultants has recently secured the letting of a prominent trade counter unit at the front of the former Timber Trade Centre on Daleside Road to Trent Electrical Supplies, an electrical wholesaler expanding their operations in Colwick. 

Mark Tomlinson commented: –

“We sold this site on behalf of the previous owners to Silverdale Coaches who saw the value in this site, which includes two prominent trade counter units as well as circa 40,000ft² of warehousing to the rear.  Both trade counters have let very quickly, the other being let for use as a fireplace show room.

“Trent Electrical secured this property as a result of a competitive bidding process and we were impressed by the business plan which has been outlined to us.  I am confident that, given the prominence of the site, their business will go from strength to strength in this location.”

Simon Peckover, Director of Trent Electrical Supplies commented: –

“Trent Electrical Supplies was set up 3 years ago and has continued to grow rapidly. This new location is perfect for our growing business with it having excellent access, ample parking, an impressive trade counter and larger stores. This move will enable us to provide our customers with increased stock levels and the very best service possible.”

An engineering firm which has been in business for 95 years has bought one of the buildings it occupies on an industrial estate.

Precision engineering firm Boneham & Turner has acquired the second of the three industrial units it occupies on a site alongside the A38 and only two miles from the M1.

The family-owned business was based in landmark premises on Nottingham Road in Mansfield for many years.

But it moved out of its site to make way for a new supermarket, transferring its business to the Gateway 28 industrial development off Penny Emma Way, Sutton-in-Ashfield.

Boneham & Turner already owned one of the three inter-linked units it occupies at the site but has now bought a second in a deal negotiated on its behalf by Alastair Fearn, of Nottingham property agent FHP.

Peter Boneham, the latest generation of the family to run the business, said:

“When the opportunity arose to acquire unit 2b, we were immediately interested because of our unique position of being a tenant of the property.

“The buildings work for us and we were keen to secure our future at the site. We instructed Alastair Fearn to act on our behalf on the acquisition following the initial valuation advice he provided to us.”

Alastair Fearn of FHP Property Consultants said:

“Boneham & Turner is a long-established and very well-respected business which settled well into a modern location after its move from Mansfield.

“It made sense for it to buy the unit that it had been leasing and the important thing was to make sure that it secured acceptable terms.

“We’ve been involved in numerous industrial property transactions in this area and we were able to use our market knowledge to negotiate effectively and make sure the transaction progressed smoothly.”

Boneham & Turner was founded in 1918 by John Boneham.

Today, it provides a variety of high-quality engineering products to customers worldwide operating in the aerospace, automotive, motor sport, power generation, defence and machine building sectors.

Tim Gilbertson, a Director at Nottingham property consultancy FHP, reviews the prospects for the office and industrial property market.

False dawn is an over-used phrase.  But there have been so many of them since the financial crisis pole-axed our economy that it’s no surprise. Since 2010, we seem to have gone through cycles in the commercial property market where promising signs early in the year have been replaced by uncertainty and disappointment.

This year, though, could be different.  Sure enough, 2013 started off on a positive note with a rise in the numbers of people enquiring about moving their businesses into new property and then the market went to sleep again.

But once we got past what seemed like an interminably long Easter, the numbers of people looking to do deals for office and industrial property has slowly but surely increased.  Not only have there been more enquiries, but those enquiries are more serious and they have translated into more deals.

In the wake of all those false dawns, it’s a brave surveyor who calls recovery.  The evidence of economic progress is all around us though.  We’ve seen the GDP figures for the whole of the UK steadily improving and at grassroots level the surveys from the local Chamber of Commerce suggest that sales, profits and order books for businesses in Nottinghamshire and Derbyshire have been getting stronger for months.  Even Forest are riding high in the Championship!

On that basis, we shouldn’t be surprised to see those businesses who put expansion plans on ice in the downturn deciding to dust them off and see what’s out there.  In the market for small to medium-sized industrial property, I and my colleagues at FHP have been handling a steady stream of activity, and there have been some real successes at prominent sites in and around the M1 corridor – notably at Castlewood, near Junction 28 of the M1, and down at Castle Donington.

With no new stock around, good quality second hand buildings are being snapped up quickly when they become vacant.  That tells you the appetite is out there. In fact, demand is running ahead of supply to the point where businesses are snapping up older premises rather than waiting for something new and perfect to come along.

This hints at the reasons why it might still be a while before the market recovers its equilibrium properly.  Nothing new was built during the downturn and to this day the losses banks suffered on property mean you have to make an extremely strong case to fund development and satisfy investors that there will be a return – especially when occupiers will no longer sign very long leases which give building owners security.  So while the evidence of recovery is gathering, the risks of building speculatively and hoping an occupier will appear mean caution is still the watchword.

Where does this leave us?  Well, we haven’t got people beating our door down every week asking if we’ve got a spare 100,000 sq ft on our books, but the building Asda took for a home delivery operation at Bulwell could have been let three times over – so serious demand is out there.  As the increasing evidence of recovery demonstrates, so is the pressure to try to find property solutions for businesses who want to make the most of growth.  One of those solutions may be design-and-build, where a deal is done to develop a new, purpose-built property.  Not only does this mean planning ahead, it means having a sound financial package and the security of a long lease to support it.

Interestingly, it isn’t just distribution warehouses driving demand alongside the M1 corridor.  Much of the interest in the larger properties that are available in Nottinghamshire has come from manufacturing businesses, which is a positive sign for jobs.

We have seen the back of false dawns now.  The next most over-used phrase?  It’s time to stick a spade in the ground!

Acting on behalf of Commercial Estates Group, FHP Property Consultants are delighted to announce a further letting at Amber Business Centre, Riddings. 

Derbyshire Motorbike School originally based on Monk Road Industrial Estate have relocated and expanded to Unit 13.8 Amber Business Centre extending to 58m² (624ft²). 

The motorbike school offers motorcycle training courses ranging from Basic Introductory Lessons, CBT, help and advice with the Motorcycle Theory Test and motorcycle training to gaining your full motorcycle licence or the Direct Access Scheme. 

George Dunnicliff of FHP Property Consultants commented:- 

“It is pleasing to see yet another completed deal here at Amber Business Centre at Unit 13.8.  Derbyshire Motorbike School is a frequent user of Amber Business Centre for training purposes so therefore it was a natural progression for them to take a small unit when one became available.  I wish the team at Derbyshire Motorbike School all the very best of luck for the future”. 

For further information on this letting or available opportunities at Amber Business Centre please contact George Dunnicliff on 01332 224851 or George@fhp.co.uk.

FHP Property Consultants are delighted to announce the letting of an 8,000ft² modern industrial unit in Clipstone on behalf of Newark & Sherwood District Council.  The property has been let to UK Metering, suppliers of high quality metering products throughout the UK. 

Previously based in a unit on Nottingham South & Wilford Industrial Estate the company have taken a unit 4 times that size representing a marked expansion to better accommodate their growth and future growth plans.

Mark Tomlinson of FHP Property Consultants commented: –

“I am delighted to have found such a high quality tenant for this unit in Clipstone.  The unit has been on the market for some time with Newark & Sherwood District Council and I am delighted that we have been able to add value here by completing a letting in just 4 months.

The process was assisted greatly by the attitude and pragmatism shown by Newark & Sherwood District Council who fully understand the market conditions and flexible approach which needs to be adopted to achieve success in the current market.”

Andy Wood of UK Metering commented: –

“We are delighted to have agreed a deal with FHP & NSDC for the lease of Unit 7 Woodland Close. We have experienced an excellent level of growth, particularly over the last 2 years, which has been largely driven by the introduction of the governments Renewable Heat Incentive (RHI). As a major distributor of approved metering solutions for the RHI scheme, the Company has invested significantly in stock levels to ensure that we are able to offer ‘off the shelf’ availability on all heat metering requirements. The Company has also increased stock levels on water meters, gas meters & electricity meters which enables us to offer full utility metering solutions to contractors and/or end users.

Proximity to major routes in and out of Nottinghamshire, locality to the current workforce, sufficient space to allow further growth over the next 5 years together with its well-presented, modern offices, reception and meeting room were all major factors in our selection of Unit 7.”

Phil Daniels of Newark & Sherwood District Council commented:-

“FHP’s market knowledge and excellent market coverage was invaluable to the early identification of a good quality tenant for our unit at Clipstone. I would have no hesitation in recommending FHP to other local authorities.”