FHP Property Consultants are pleased to announce that the refurbishment works at West 28 are now completed!

West 28 is the latest in a series of developments by PMW Property Developments. The estate which is now known as West 28, is the latest site on the long established.  Clover Nook Industrial Estate and offers direct access to the Midlands main strategic road network through a location right next to the A38.

The site comprises four units totalling 74,000 square feet of space, the units ranging in size from 7,500 to 40,000 sq ft. They can be bought or rented on flexible terms, include office space and will be suitable for a range of uses looking for a modern, professional location which has fast access to the key east-west and north-south road networks.

It is a rare opportunity to rent or buy high-quality space in a market where the lack of new build Industrial space has meant well-located premises are few and far between, says Mike Wrigley. “This is a market where you really do have to move fast, all the way from developers securing opportunities with good potential to occupiers finding the right site.

“The area around Junction 28 is, if anything, even more competitive because there are so many small to medium-sized businesses who have been holding back during the downturn but are desperate to expand. We have developed sites on both sides of Junction 28 and they have done remarkably well, despite the downturn. That is testimony to the underlying strength of the local economy.”

West 28 is being jointly marketed by Laura West, of the Nottingham property consultancy FHP and Sean Bremner, Lambert Smith Hampton’s Nottingham office. Laura West, who has acted for Mike Wrigley on a number of other developments, says she is expecting strong interest in the new development.

“This is one of the largest sites to have come on to the market for some time, and all the signs are that the space is going to be snapped up pretty quickly. It ticks all the boxes in terms of location, size and quality and the fact that it is being developed under the PMW banner gives it considerable added credibility.

“We are regularly being contacted by businesses who need to expand but just can’t find the space because so little new build is coming on the market. I think they’re going to sit up and take notice when they see that it’s PMW developing West 28 because they know it will be a sensible, high quality refurbishment which brings space to the market which is pretty much plug and go. We have hardly started marketing yet the inquiries have already started.”

Sean Bremner added: “What few people realise is that the East Midlands economy has remained remarkably strong during the downturn, with global manufacturers and their associated supply chains keeping regional business ticking over at a healthy level.

“That has filtered down to SME territory, where there is a tradition in Derbyshire and Nottinghamshire of well-run privately-owned firms who always operate within their means. The result is a surprisingly high demand for good quality industrial space, especially in locations which link up to the A38 and M1.  West 28 is an excellent site and we think the flexible terms are going to prove very attractive to a wide range of potentials occupiers.”

END

‘Knowledge is power’ goes the saying and in this case that certainly proved to be a pertinent phrase after Tim Gilbertson of FHP brokered a deal on behalf of long standing private investor clients for the sale of their premises on Dabell Avenue at Blenheim Industrial Estate just off Junction 26 of the M1 Motorway.

Having purchased the building sometime ago for investor clients, Tim Gilbertson was then about to embark upon a marketing campaign but knowing a number of parties in the market for space such as this, off market approaches were made and as a result a deal was concluded without any marketing being required.  Knowledge of the market provided an opportunity which suited the vendor in terms of the speed of which a sale was agreed along with the lack of void period and marketing costs, and the purchaser for being able to secure an opportunity before it hit the market. 

Tim Gilbertson commented:

“Even in these difficult times there are always parties in the market looking for space and it is essential that as agents we keep in touch with these parties so that we know as and when an opportunity becomes available that we can hopefully have a purchaser or tenant lined up.

This has always been the FHP approach and I am delighted that once again it has yielded dividends for both vendor and purchaser alike. 

By knowing our market, knowing the occupiers and being able to identify a purchaser prior to marketing, we have saved the vendor time and costs and provided the purchaser with an opportunity ideal for their needs.  A great result all round. 

The building sits in a prime location on Blenheim Industrial Estate and after I purchased this for our clients in 2012, the ability to quickly turn around the building and sell it on is again testament to the market knowledge we have. 

All agents can offer marketing campaigns but I believe we are firmly at the head of the queue in terms of the effort put into knowing our market and knowing the purchasers and tenants within it in the hope of brining a vendor and purchaser together at the earliest possible time. 

As stock levels now decline and with the market showing signs of activity I am keen to bring other opportunities to the market and would be delighted to go and see any building owners and landlords to try and help utilise our market knowledge to find tenants and purchasers alike.”

Vendor Gillian Merritt commented:

“Tim at FHP has acted on my behalf now for well over 10 years and during that time he has effectively become my Property Director from afar!

He has bought and sold investments for me, re-housed my various businesses and bought both on and off market opportunities to me, all of which have been a terrific success.

His market knowledge and experience in this sector are invaluable and I cannot recommend his services highly enough.

I look forward to working with Tim and FHP once again in the very near future.”

The building has been purchased by Micro Mesh Filtration, and their Managing Director, James Underwood, commented on how the building will enable them to continue their expansion and growth in Nottingham:

“These are exciting times for Micro Mesh Filtration as we continue to expand our client base including substantial orders we have in the emerging markets of the world including the burgeoning economy of Brazil.

As a result of our continued growth and planned expansion it was essential for us to find a new base.  What sounded a simple task on paper proved tricky as we needed to stay within close proximity to our former home to ensure that our valued staff were retained and well looked after whilst also providing us with a home not only for the here and now but also one that we could extend in years to come. 

Tim Gilbertson at FHP has acted on our behalf in various property matters for any number of years and when he offered us the chance to purchase the perfect opportunity off market from another client this really did seem to be the ideal solution for one and all. 

Now that we own the building that remains very much the case and our new base of 15,000ft² is our ideal property solution.  Tim knew of our requirements and this building satisfies them all as we will be investing heavily in the premises, updating and expanding it still further to provide us with a home for both the short and long term future. 

The building and room for growth enables us now to focus firmly on our business expansion plans with all property requirements met now for many years to come.”

For full information on this deal please speak to Tim Gilbertson at FHP on 0115 9507577. 

Modern production space, limited offices, a good quality building on a large site, these were the requirements of Bespoke Building & Joinery Projects Limited as they look to expand from their previous base in Mansfield.  Armed with this information, Tim Gilbertson of FHP quickly provided them with their perfect property solution, refusing to be outfoxed by their specific requirements, eventually housing Bespoke at Fox Covert Way on Crown Farm Industrial Estate in Mansfield. 

The deal agreed sees this good quality building let to Bespoke for a 5 year term to enable them to continue with their planned expansion and growth of the business whilst securing for the landlord long term income from a good covenant.

The deal was put together by Tim Gilbertson of FHP who commented:

“It is very rewarding when expanding local companies take space as was the case with this particular letting.  Bespoke provided specific requirements and we were delighted to be able to come up with the perfect solution for them with the letting of this modern unit on Fox Covert Way in Mansfield.

Well positioned just off Southwell Road, a deal was quickly agreed and whilst the legals took a little longer than would have been perfect, through no fault of the landlord or tenant, the deal was agreed and Bespoke will be moving into their new burrow on Fox Covert Way very soon!”

This further letting shows again the activity that there has been in the first quarter of 2013 and with stock levels diminishing and demand showing further signs of improving now is the time to consider a marketing campaign for any potential landlords or sellers in the market place.

Tim Gilbertson further commented:

“Certainly we are seeing stock levels drop as there has been little or no speculatively constructed space come to the market over the last few years which is understandable given the ongoing economic difficulties.  However with the economy showing signs of life and demand certainly picking up there may come a situation soon where demand will outstrip supply and we will see potential deals frustrated by the lack of quality stock not the lack of quality tenants and purchasers.

We continue to add stock on a weekly basis to our listings but as ever more is required as the last position we want to be in as a Practice is seeing potential tenants or purchasers failing to secure property due to a lack of availability. 

I would be delighted to provide, without commitment or cost initially, marketing advice to any potential clients, new or old.     

A business which makes sure luxury car owners are sitting comfortably is in the driving seat for expansion after a move into bigger premises on a popular industrial estate.

Seat Design Company, known as SDC, designs the seats which sit inside cars like the Bentley Continental GT Cabrio and the Aston Martin Rapide, is moving in a larger home at the Amber Business centre in Riddings.

The move will see it more than double the amount of space it occupies. Where it previously leased a 10,500 sq ft unit, it is now taking on more than 25,000 sq ft of space in a deal secured by the Nottingham property consultancy FHP, with NG Chartered Surveyors acting as joint agents.

SDC said it was keen to stay in the area so that it could maintain the skill and expertise of its existing team – which has increased from 20 to 31 over the last 12 months thanks to a series of new business wins that have driven its growth.

Tim Walker, the finance director of SDC and one of the founders of the business, said:-

“I’d known for a while that we needed bigger space.  We are really happy with the Amber Business Centre, and luckily there was a bigger unit available. The company was set up 10 years ago and we’ve been at the centre since the beginning.”

“This move is a really big moment for us. We’ve worked hard over the last 10 years to establish a strong reputation as a specialist seat designer with low volume manufacture capability, and it’s really paying off. We’ve just won new contracts in the automotive, rail and medical sectors, hence why we need more space.”

SDC designs seats, builds prototypes and can also manufacture in low volumes. Some of the prestige projects it has worked on include designing and producing prototype rear seats for the Bentley Continental GT Cabrio in the space of two weeks, and designing and developing the rear seats for the Rapide, Aston Martin’s return to four-door motoring.

The high-tech company also carries out work for aerospace giants such as BAE Systems and major manufacturers like Lear Corporation.

Tim added:-

“I think the reason we’ve been so successful is because we invest heavily in staff training and equipment. This year we’re investing over £100,000 in new equipment which will further increase our manufacturing capability and we have plans to invest another £100,000 later this year.”

Laura West, of FHP, commented:-

“SDC is just one of many success stories at the Amber Business Centre. “We’ve got a real mix of fantastic local and national companies on this estate, including ETS, Parker Knoll and Bow Distribution and Warehousing. The estate has a mix of small and large units, so it offers a flexible option for growing companies”

“I’m really pleased for SDC – its success is well deserved, and it’s great that the business has been able to grow with the Amber Business Centre. Before the move into the current unit, the company occupied a number of smaller units, which it had gradually acquired over the last few years. This step-by-step approach can help take away a company’s growing pains.”

Henry Henson, from NG Chartered Surveyors, added:-

“The Amber Business Centre is a popular destination for local businesses. Importantly it is close to the A38 and A610 as well as junctions 26, 27 and 28 of the M1, which is key to the success of the companies at the estate.”

Since the current landlord took on the estate three years ago the occupancy rate has risen from 60 per cent to just over 90 per cent.

The Amber Business centre is managed by Commercial Estates Group (CEG), which has focused on offering support and flexible lease terms to tenants.

Antonia Martin-Wright, asset manager with CEG, said:-

“We pride ourselves on offering small and medium sized businesses good value and support to help them develop.

“Our lease terms are flexible, and we can arrange for rents to be paid at times that suit our tenants. It’s the simple things like this that can really help companies like SDC – a great example of one of the businesses that has grown with us.”

55 out of 58 units on the estate are now fully let and both Laura and Henry say they are aiming for 100 per cent occupancy of the estate by the summer.

END

One of the biggest names in ground engineering is building the foundations for growth in a new site at Kirkby-in-Ashfield. Van Elle, an award-winning business known in the industry for its advanced piling and foundation techniques, is expanding into a major new location based on an old industrial site close which is only four miles from the M1 motorway.

The move is being made after a deal secured on Van Elle’s behalf by Tim Gilbertson, a director in the commercial and industrial team at the Nottingham property consultancy FHP.

Currently based in Pinxton, Van Elle will mark its 30^th anniversary in business next year, having been founded in 1984 by company chairman Michael Ellis. It has become an award-winning business hailed as one of the best in the ground engineering industry and renowned for its expertise in sustainable geotechnical engineering.

It was named Specialist Ground Engineering Constructor of the year in 2011, and worked its way into the Sunday Telegraph Top 100 Businesses rankings.  It has managed to not only retain its clients but expand during the downturn, and asked FHP to help it find a new site which would give it room for further expansion.

Through FHP, it has now acquired an old industrial site at Summit Close, Kirkby-in-Ashfield, which was once the home of Charcon Tunnels. The 4.5 acres site comprises two parcels of vacant land just of Southwell Road. Over time, Van Elle plans to modify the site to suits its own purposes.

Tim Gilbertson said: “Van Elle is a market leader and without a doubt one of the real business success stories of the region. It is known across construction industry for its expertise in ground assessment, piling and foundation techniques. Increasing numbers of customers have bought into tis quality-led approach and that means the business needed a new site to expand. They are a specialist business and they gave us a pretty exacting brief when it came to finding an appropriate site. The deal that has eventually been agreed was a complex one which took time to put together, but the site at Summit Close is a substantial one and offers the capacity for them to fulfil their growth ambitions for the next decade and beyond.

“Summit Close is very well connected being less than a mile from the A38, which links straight into the M1 motorway at Junction 28. This area has been one of the most active in the industrial market for a while now and the Van Elle deal is another illustration of the whole area’s popularity.”

Jon Fenton, Chief Executive of Van Elle, explained the background to the deal. He said: “We set FHP an exacting task because the nature of our work means we required a site which would meet some specific requirements. I’m pleased to say that their knowledge of the area and experience in doing deals thee was a major factor in us securing this site. On that basis, we would have no hesitation in working with FHP again.”

Tim Gilbertson concluded: “Despite the fact that it continues to be a difficult climate, we are being asked more and more to acquire space on behalf of businesses which require industrial and warehouse space, whether it is leasehold or freehold. We have been particularly active in the wider area around the M1 corridor for some time now, building up a depth of market knowledge which is not available elsewhere.

“This knowledge is proving invaluable for our clients, who are looking at a market where opportunities appear to be few and far between. We know where the real opportunities are, which means we can identify solutions for our clients. This is taking a problem off the hands of managing directors and finance directors who have already got enough on their plates without having to source, negotiate and acquire the property they need to grow.”

Acting on behalf of LCP Properties, FHP is delighted to announce the refurbishment works have now been completed at A1 Cranmer Road, West Meadows Industrial Estate. On completion on the works the unit was handed over to Europcar who are themselves commencing their own bespoke fit out in order to occupy.

Europcar a leading international automotive rental company have taken the end terrace unit fronting Pentagon Island which also benefits from a large storage yard. The unit which provides a floor area of 459.12m² (4,942ft²) has been taken a new 10 year straight lease.

Europcar who are currently located on Beckett Street, Derby have taken this new larger facility to cater for their expansion plans in Derby. The new home will provide them with a show room, customer services, storage and wash down facility. Their fit out works are due to be completed within the next couple of months.

George Dunnicliff at FHP Property Consultants acting on behalf of LCP Properties commented:

“I am delighted to see the refurbishment works have now been completed down at Cranmer Road allowing for Europcar to take occupation in and fit the building out to their require specification. LCP Properties have made an excellent job in refurbishing the former Peugeot showroom and I am sure once Europcar have fitted out this property will provide an excellent new home and allow them to continue to offer their automotive rental service within the Derby Market.”

Further information on this letting will follow once Europcar take occupation.

For further information on this letting, other units available at Cranmer Road, or the wider Derby market please contact George Dunnicliff at FHP on 01332 343 222 or george@fhp.co.uk.

Tim at FHP has acted on my behalf now for well over 10 years and during that time he has effectively become my Property Director from afar!  He has bought and sold investments for me, re-housed my various businesses and bought both on and off market opportunities to me, all of which have been a terrific success.

His market knowledge and experience in this sector are invaluable and I cannot recommend his services highly enough I look forward to working with Tim and FHP once again in the very near future.

An ambitious electrical wholesaler, a car servicing franchise, an automotive paint repair franchise and a plastics firm have all taken units at Abbey Trade Park in Mansfield – bringing it to 100% occupancy.

Property agents FHP Property Consultants and Innes England have successfully secured the deals in what has been an active period of lettings, echoing the demand for smaller industrial units at this popular development.

Hi Q, the award-winning car servicing franchise, has over 170 units nationwide and has moved into Unit 1 at the development.

YESSS Electrical, a new electrical wholesaler, intends to expand quickly with ambitious plans to open up a further 80 sites over the coming year.

ChipsAway has established a new base to provide car body and paintwork repairs.

Tru Plastics has also chosen Abbey Trade Park as the location to grow its business. The supplier of PVC building products has been in the Mansfield area since the business started five years ago.

Acting on behalf of Abbeyfield Estates, FHP Property Consultants and Innes England brought the four businesses to the popular trading estate on Hermitage Lane, which is already home to tenant Screwfix.

Scott Osborne, associate director at Innes England, said: “The four lettings so close together suggests the demand for this type of industrial unit is holding steady.

“All companies are experiencing considerable growth and needed premises that can support their plans. The lets give the new tenants 4,000 sq ft of space each and accommodation comprises of warehouse space with roller shutter doors, clean span space and extensive parking.

“Abbey Trade Park is a good accessible location and I wish Tru Plastics, YESSS Electrical, ChipsAway and Hi Q all the best for the future.”

“Debra Robinson, Managing Director at Hi Q Mansfield said: “I’m thrilled with our new premises. Hi Q is expanding quickly and we needed a location that had great transport links in the Mansfield area and accommodation that suited our needs as a company.”

The trade park is situated just off the A617 close to Mansfield and is only five miles from the M1and 14 miles from Nottingham.

Laura West, surveyor at FHP Property Consultants, commented: “The success story at Abbey Trade Park over the last 12 months in my opinion makes this estate the best performing trade park within Nottinghamshire. All four tenants appear to be trading well and we wish them every success for the future in this first class location.”

Steve Cole at Abbeyfield Estates said: “We have been very pleased with the excellent service provided by our agents, and are delighted that Abbey Trade Park is now fully occupied.”

END

Whilst Monday 11 February will be remembered around the world as the day a Pope resigned, at Clowes Developments Castlewood site it will be remembered as the day Unit 4A was handed over to new occupiers, Midland Aerospace.

With the deal agreed and documented some months ago, the end of 2012 and early 2013 saw the building completely remodelled so that bespoke two storey offices were fitted out throughout the entirety of the unit for the benefit of the new tenants, Midland Aerospace. 

Photographed in the finished building, enjoying the snowy outlook are James Richards, Development Manager of Clowes Developments and Tim Gilbertson of FHP who had agreed the deal on Clowes behalf.

Midland Aerospace become the latest occupier of Castlewood in addition to the Co-op and their unit of 475,000ft² and further local occupier, Meridian Lightweight Technology who occupy a new build unit of 60,000ft² on the same park.

With the adjoining 25,000ft² unit ‘under offer’, Castlewood is really showing its versatility, being an attractive destination to both national distributors and household names as it is to smaller, well established companies seeking prime accommodation which remains easily accessible for both local staff and the national transport network.

With ongoing discussions with three other parties at present for design and build solutions on the site, hopefully 2013 as a whole will be remembered as the year when Castlewood really took off!

Acting on behalf of Blueprint, FHP have followed the retail trend and achieved a January sale at a fair, not reduced price for a substantial high quality industrial unit in Alfreton.

Acting jointly with Innes England, Tim Gilbertson, Director of FHP has negotiated and overseen the sale of high calibre detached warehouse/production space on the Monk Road Industrial Estate in Alfreton, just off the A38 and within minutes access of Junction 28 of the M1 Motorway. 

A sale has been agreed to David Nieper Limited, represented by Sean Bremner, Director of Lambert Smith Hampton’s Nottingham office. 

David Nieper is a British fashion house based in Alfreton, Derbyshire designing and manufacturing women’s fashion, knitwear and nightwear.  The family company sells directly to private clients both in the UK and overseas.  This freehold purchase gives further space for David Nieper to expand and cope with record demand for its British made fashion.

Tim Gilbertson who acted for the vendors commented:

“It is always great to start the New Year with a sale which the retailers always suggest is the way forward and this deal was concluded within a matter of weeks from agreement of terms immediately prior to Christmas.

This high quality building is set in a superb location, just off the A38 in Alfreton with terrific transport links and also the benefit of good quality fitted accommodation with large yard. 

It came as no surprise that once the eventual party showed interest through their agent Sean Bremner at Lambert Smith Hampton that we quickly agreed terms.  Equally pleasing though was the speed with which the transaction was agreed and documented.  Literally from first viewing until handing the keys over took no more than 4 weeks, including the Christmas break.  If only all transactions could be so quick!

The deal showed again the lack of good quality space in the industrial and warehouse sector in the East Midlands on either a freehold or leasehold basis and I am actively looking for additional instructions to fill the gap for parties known to be in the market and seriously looking to purchase or rent in 2013.”

Sean Bremner of Lambert Smith Hampton, who acted on behalf of the purchaser, commented:

“We are delighted to have secured the premises on behalf of David Nieper Limited.  The quality of this unit, its location in proximity to their Head Office and potential to satisfy both current and future expansion provided an excellent solution.  2012 was a fantastic year for David Nieper with record sales at the family owned fashion house partly as a result of customers buying British.  The acquisition is a reflection of its continued manufacturing expansion which has seen them employ 28 additional staff in the past year and earn them a feature on BBC Breakfast news.”

Tim Gilbertson concluded by adding:

“We have a further unit available on the estate which is now also ‘under offer’ and which we hope to report shortly as being sold, this will provide our clients with an ideal start to 2013.

For further information on the deal or to see how FHP can help you with a disposal on either a sale or letting basis of your building then please contact the team on 0115 9507577. 

MIDLANDS property consultancy FHP has secured another major distribution deal along the M1 corridor, building on a track record which takes in transactions with some of the biggest names in business and the biggest sites in the region.

The latest deal has seen it agree terms for Menlo Worldwide Logistics to take 167,000 sq ft of space at The Core, the commercial and industrial development just off Junction 29 of the M1 at Temple Normanton in Derbyshire.

Menlo, a third-party logistics specialist which is part of the $5 billion US freight distribution giant Con-way Inc., is the latest in a series of major names to sign up for space at strategic locations close to the M1 in Nottinghamshire and Derbyshire. The past 18 months has seen Marks & Spencer take one millions sq ft at the East Midlands Distribution Centre at Castle Donington, Co-operative Group sign up to a purpose-built 477,000 sq ft distribution warehouse at Castlewood off Junction 28, and Asda take 100,000 sq ft just off Junction 26.

All of the deals have been handled by the commercial and industrial team at FHP, the consultancy acting for Royal London Mutual Insurance in the Menlo letting. John Proctor, director of the team, says that while the scale of the deals is a testament to FHP’s market expertise, it also demonstrates the increasing importance of the distribution industry to the East Midlands economy.

He commented: “From our own perspective, we’re naturally pleased to have secured another major distribution warehouse deal involving prestige clients. Over the past few months we’ve transacted more than 2.5 million square feet of space, which is a real tribute to the team.

“But the bigger picture is the increasing contribution which the logistics industry is making to the regional economy, which is only now being properly appreciated. For far too long the perception has been that this is an industry full of nothing but fully-automated, lights-off facilities providing little in the way of jobs. That’s a misplaced notion.

“The reality is different. The M&S facility at Castle Donington and the Co-op warehouse at Castlewood will employ in excess of 2,000 people between them. And that’s just two sites.

“While fully-automated facilities do exist they are the exception rather than the rule. That’s because the demands of customers are now such that logistics companies have to be able to provide a highly flexible service capable of delivering anything from a small individual item within 24 hours to a large shipment. The result is that the majority of distribution sites actually offer a high level of employment for a good range of skill sets from pickers, forklift drivers, the administrative and clerical management teams to the HGV drivers themselves.

“So the logistics industry is an asset to the East Midlands economy which should be appreciated more. It’s a competitive industry with some major players and we need to be doing everything we can to make sure they know we’re a well-placed location which understands and appreciates what they do,”

John Proctor negotiated the deal at The Core with Savills’ Birmingham office, which acted for Menlo. Full details of the transaction have not been disclosed, but it’s thought Menlo has signed up to a 10-year lease on the property, which sits on a stretch of the M1 which has easy access to the M18, A1 and A38.

John Proctor concluded: “This is an important deal for the region and it continues a national trend which has seen a marked increase in the take up of good quality distribution units throughout the UK. This was one of the last units which was constructed speculatively in the region and it has been frustrating to see a unit of such good quality in such a strong location waiting for an occupier.

“The market is now changing, though. There is now only a limited supply of good quality new distribution space on the market and occupiers are having to plan their future needs much further ahead – which means new facilities will inevitably have to be built to order. Fortunately, we still have a good range of well located distribution sites on the M1 corridor within this region”.

Acting on behalf of Hydro Systems UK Limited, Tim Gilbertson of FHP has successfully located and negotiated terms on their new base at Trent Lane, Castle Donington.

Given the brief by Hydro to try and find appropriate warehouse and office accommodation within a corridor stretching between the M1 at Junction 23 and Derby, an extensive and exhaustive search was undertaken in order to review and profile potential opportunities.

Eventually, refurbished good quality space in Castle Donington was sourced and a deal quickly agreed.

Now well ensconced in their new base, the new premises will serve Hydro well in their expansion as they continue their work in the East Midlands. 

Tim Gilbertson commented:

“Whilst the lack of demand in the commercial property sector has been well documented over the last few years, what has surprised a number of potential owners or tenants is the lack of good quality space on the market.  There has been little or no new development in recent times, stifling the supply of space to the market and when tasked with an acquisition role such as that recently undertaken for Hydro, opportunities have always been hard to find.

However, after offering both on and off market opportunities to our clients they eventually settled upon the right building for them in Castle Donington which met their key criteria of having a good office content together with well presented warehouse space and most pertinently with a large secure yard. 

The deal agreed should serve Hydro well for the future and enable them to continue their local success story and expansion in the future. 

We wish them well in their new base.”

For further information on the deal or to see how FHP can help you with the sale, letting or indeed acquisition of any commercial property then please give the team a call on 0115 9507577.

The East Midlands industrial development market has kicked off 2013 in style with the sale of a large-scale strategic development site in Nottinghamshire for employment use.

Tim Gilbertson, a director in the industrial team at the Nottingham property consultancy FHP, has secured a deal on behalf of Clowes Developments for the sale of the prime 13-acre site just off the A38 at Sutton-in-Ashfield.

The deal is one of the biggest industrial land transactions in the East Midlands in the last 12 months. It is thought the site will be used to help an established local employer bring a range of different facilities on to one site, but precise details of the development have yet to be revealed.

The land forms part of the wider Gateway 28 development on Oddicroft Lane. It forms part of the industrial corridor on the A38 which connects the M1 motorway at Junction 28 with the MARR – Mansfield-Ashfield Regeneration Route – road. It was surplus to requirements for Clowes, which is currently focused on the successful development of the much larger Castlewood site

Tim Gilbertson marketed the site on Clowes’ behalf, and says such prime industrial land might normally have been broken up into smaller plots for a series of separate sales. But he already knew of a long-established local business which had been looking to consolidate its separate locations for some time.

He commented: “The economic climate of the last few years has made the disposal of large sites quite a challenge, and it hasn’t been unusual to see them parcelled up into bite-sized chunks which it’s easier for a cautious market to buy into.

“In the end, though, we effectively concluded the sale of the entire site off market because we had known for a while that there was a business in the area which was looking to being a number of different operations into a single, well-connected location. There’s no question that Gateway 28 met their criteria, and it is only a five-minute drive from the M1. They were as enthusiastic about the site as we were.”

Gilbertson says that the transaction was also bought to a swift and smooth conclusion by the hard work of all the professionals involved. “A deal was agreed within a matter of days and the legal work concluded in a very short period, which is a testament inarticulate to the dedication of everyone involved – Simon Griffiths of Flint Bishop Solicitors, who acted for the landlords alongside FHP, and Peter Sutherland of Andersons, who acted for the buyer.”

Gilbertson added: “Deals of this magnitude have been pretty thin on the ground over the past few years and it is incredibly encouraging to see not just a major land sale but such a prominent site go for employment use. This is a great way to start 2013, and I’m hopeful that this is going to encourage yet more activity in an area which has seen some very significant deals over the past 12 months.”

James Richards, of Clowes Developments, acknowledged that the site’s disposal could have been a lengthy process. He said: “Tim Gilbertson has done us proud here, securing a sale in a remarkable quick time and doing so at a price which suits us and the purchaser. It’s meant that we have been able to focus our efforts on the Castlewood scheme, where we have achieved some major successes with FHP over the past year.

“I also want to place on record my thanks to all the solicitors and agents involved because they ensured that what could have been a complex transaction was both swift and simple – allowing us all to kick off 2013 with a major success.”

Acting on behalf of Reflective Designs, following their relocation and expansion to new premises towards the end of 2012, Tim Gilbertson of FHP is pleased to confirm the letting of their former building on Nottingham South & Wilford Industrial Estate. 

As ever, this popular location proved a draw to tenants and once identified, a deal with the eventual new occupier was quickly confirmed.  The new occupiers, W R Bloodworth & Sons are themselves expanding and relocating and the speed of the deal suited both parties, enabling Bloodworth to be up and trading for the start of January.

Tim Gilbertson of FHP who dealt with the letting commented:

“Having acted on behalf of Reflective Designs for some time, it was a pleasure to see this deal agreed and complete following agreement of terms. 

Yet again Nottingham South’s popularity, even in a difficult market, has enabled us to secure a good quality tenant and hopefully the building will serve both landlord and tenant well for the future.

With stock levels diminishing and hopefully demand increasing in the New Year, I would be delighted to speak to any other potential landlords or vendors wanting to sell or let their premises as I am cautiously optimistic that 2013 may bring increased activity in the industrial and warehouse sector. 

With a number of unsatisfied requirements in the market place, if you are thinking of selling or letting your premises then now might be the time to act!”

For further information or to see how Tim Gilbertson and FHP can help you please contact the team on 0115 9507577. 

John Proctor at FHP has confirmed the letting of a high quality distribution unit of 167,000ft² at The Core, Temple Normanton, Junction 29, M1.

The unit which is owned by Royal London Mutual Insurance Society Limited has been let to Menlo Worldwide Logistics on a 10 year lease with a Tenant break clause at the end of the fifth year on fully repairing and insuring terms.  The letting continues to demonstrate the strength of the northern East Midlands region as a distribution location within the UK following on from the landmark deals achieved at Clowes Developments’ 200 acre EMDC scheme at Junction 24, M1 where M & S took some one million square feet and the letting of 480,000ft² to the Co-op at Castlewood, Junction 28.

FHP managed to bring their clients, National Autoparts an early Christmas present by letting their former accommodation of nearly 50,000ft² on Willow Road in Nottingham.

Acting jointly with Sean Bremner of Lambert Smith Hampton, Tim Gilbertson of FHP agreed a deal which sees the premises let on a 5 year lease to expanding local occupiers Recycle Shop. 

Tim Gilbertson commented:

“I have acted on National Autoparts behalf for a number of years having previously acquired their current base in Alfreton when they relocated from Willow Road and we acquired nearly 100,000ft² for them to continue with their successful expansion.

As a result their premises on Willow Road, just off Nottingham’s Ring Road and Lenton Lane became vacant and we were tasked, jointly with Sean Bremner of Lambert Smith Hampton, to dispose of their former premises.

Given the difficult market this has proved a challenge but I am delighted to say that just prior to the Christmas break we successfully disposed of the accommodation on a new 5 year lease.

Hopefully this augers well for the future and increased demand in 2013 and whilst stock levels need boosting, hopefully demand is starting to improve and we are cautiously optimistic that 2013 may bring an improved market.

If nothing else, this is a cheerier thought for the New Year!”

For further information on the transaction or to see how FHP can help you on any commercial property matter then please contact the team on 0115 9507577.  

So, 2012, eh – that was fun, wasn’t it? We had a Ryder Cup win, gold medals galore and the return of national pride (during the Olympics and Paralympics, anyway), tennis grand slam victories, cricket success and Wiggo and his wonderful sideburns blazing a trail in the Tour de France. It couldn’t get better than that, could it?

Well, it could actually. If the property world had mirrored the last 12 months in the sporting world then our economy might be more of a champ and less of a chump.

Sad to say, property’s been more like England’s football team than its cricket team, displaying some inspirational flashes of brilliance…and then grinding its way to a draw.

But let’s focus on one of those flashes of inspiration. Up at Junction 28, we’ve seen real performance highs in the industrial and warehouse sectors – the kind of performance that echoes those Olympic medal moments and makes you think that commercial property might just have its own golden generation on the way through.

Without a shadow of a doubt, the top-of-the-podium gold medal performance goes to Castlewood, the 110-acre site alongside the A38 and the M1 motorway that has been brought to life by Derbyshire’s own Clowes Developments. And have they got a track record to be proud of!

It isn’t just the deals that have made Castlewood an eye-catching performer. If you’re a regular up and down the M1 around Junction 28, you will have seen over the past few months the Co-op’s 500,000 square feet food distribution centre rising majestically out of the ground. It’s not quite an Olympic stadium but it tells you something big has been going on.

In this case, it’s the consolidation of two separate warehouse operations into one, state-of-the-art distribution centre employing around 900 people. With Clowes making the running, it was no surprise to see the project race to the finish line on time and in budget. And it represents a performance of national standing: deals like this don’t come along often (though in Clowes’ case it was a medal double, following on from another giant distribution project for M&S at Castle Donington).

The Co-op project is more than just a physical landmark, though. The scale of the scheme and the jobs it brought are testament to the fact that Junction 28 is now part of the warehouse and distribution big league – a place where fantastic transport links and a readily available labour pool make it a prime location for logistics. It has been a real boost for the regional market. 

The Castlewood site has a whole has had a great year, giving a real shot in the arm to the property market and the local economy. In 2012 the site has also sees a 60,000 square foot design-and-build project for Meridian Lightweight Technologies, a world leader in the supply of advanced, lightweight alloys to the automotive industry. It was the first built-to-suit project at Castlewood and one of the first the Notts market has seen in years. 

While we didn’t have to wait as long for this design and build scheme as Andy Murray did for his US Open Grand Slam win, it was still a cheer-them-on breakthrough deal: as the supply of readily available industrial property continues to dwindle this looks like being the trend for 2013, with ongoing discussions with potential occupiers about further D&B at Castlewood. 

As we go into the New Year, the shortage of modern, well-specified buildings (particularly over 20,000 square feet) continues to be an issue. The flipside is companies like Meridian looking at D&B solutions. However, those businesses who may not be able to wait for a structure to come out of the ground are being held back by this lack of supply. They literally haven’t got the space to stretch their legs. 

This probably seems bizarre to those businesses who see an economy only jogging along and think it’ll be a buyer’s market. But it’s true – there’s a shortage of space and it’s been felt keenly in the last few months because there’s been no speculative construction for years and existing stock has simply been eaten up. If the economy is to get up to speed in 2013 then we need more property to come on to the market so that businesses can expand and get moving. 

True competitors always stay positive, though, and you have to take the fact that we are seeing more enquiries and more deals being agreed as a positive sign. 

Let’s try and make a positive even out of the England football analogy: if demand is overtaking supply then it feels like we’ve solved the market’s defence but can’t find a striker who knows how to score!

Parking sporting metaphors to one side, what can we really look forward to in 2013? Well, for businesses who are genuinely serious about making that move, design and build looks like the best way forward, especially if they are keen to secure high-calibre property in a well-connected location. 

In the market for existing stock, if the competition for space continues at its current level then the difficulties in finding space will be exacerbated. Deals will stumble because of a lack of supply, not a lack of demand. 

The glory days of speculative construction are still some way off because many developers face the same financial challenges that all businesses have faced since the crash. And they lack the Big C – confidence! 

I think this holds the key to the property market 2013, and I’m going to conclude by returning to that golden summer. So many of our Olympic and Paralympic stars succeeded because of a fundamental self-belief – they had that will to win. In property terms, then, businesses need to be saying to themselves that 2013 is going to be their gold medal-winning year. Their business is in good physical shape because it’s trained hard and worked hard. It knows how to win – so to make the move all it really needs is that self-belief. 

The difference between staying put and going for it can sometimes be no more than the ‘shall I-shan’t I’ mentality. Businesses need to have faith in their relationships, their order books and their own skill and determination. They need to vanquish those demons of doubt and if the right property can be sourced take the plunge. 

If they start doing that, the market will gain confidence, new stock will be created and suddenly the whole picture begins to look more positive. 

In the same way that athletes have to find performance in themselves, you can’t manufacture self-confidence in a business. But property values are low, and the performance of locations like Castlewood has shown that we can make it happen. We’re good sports at FHP and our prognosis is that 2013 can be that Olympic year for property, whether you’re bringing a site to market or trying to find the place that let’s your business compete. Let’s go for it! 

Tim Gilbertson of FHP has done us proud here as we achieved a sale within a remarkably quick period of time at a price which suits both ourselves and the purchaser and one which will enable us to focus our attention on our Castlewood scheme which sits even closer to Junction 28 of the M1 Motorway and where we have already achieved terrific success with FHP over the last few years.

In a year when Castlewood has already seen the completion and hand over of a 500,000ft² unit to the Co-op and the letting of a 40,000ft² unit to local occupiers Midland Aerospace, this final deal of the year which has seen a 60,000ft² build to suit unit constructed for local occupiers Meridian Lightweight Technologies has now been completed and keys have been handed over. 

Delivered on time and on budget this is a significant deal which sees one of only a handful of design and build transactions in the region this year complete a highly successful year for the site which sits just off Junction 28 of the M1 at its intersection with the A38.

Whilst Clowes should be applauded for their ability to deliver product on time and on budget the key significance of this building is that it sees a local occupier relocate to the site and take on brand new bespoke space, constructed to their own ‘perfect’ specification after reaching the conclusion, as seems to be a likely scenario for many requirements currently in the market, that stock levels are poor and accommodation is limited.  To make a move worthwhile a design and build on Castlewood for any occupier around Junction 28 must be the ideal solution.

The deal was agreed by Tim Gilbertson of FHP acting on behalf of Clowes who continue to market the remaining 80 acres of the site and offer the ability for bespoke solutions to be provided for occupiers from as little as 20,000ft² upwards. 

Tim Gilbertson commented:

“In a year when the property market has struggled as a whole in line with the economy in general, this deal has been fantastic news for our clients, the occupier and indeed the market in general.

Whilst Castlewood has always set out to serve both the national and local markets, the deal with the Co-op has seen a new unit of nearly 500,000ft² constructed earlier in the year to prove our faith in our ability to attract national occupiers, in its own way this deal is equally significant.

In testing economic times to have the ability to attract a substantial local company who are confident enough in not only their own order book but also the quality of the site and premises to agree a 15 year lease is testament to the superb opportunity that we have here.

Over the last 12 months I have had any number of enquiries from occupiers around Junction 28 who have been stymied in their ability to locate the perfect building due to the lack of stock and calibre of space available.

Hopefully therefore Meridian are now setting the trend for the future and, given that from completing the contract to handover has taken less than 6 months there is no reason why even the most urgent of enquires cannot be accommodated on a design and build basis.

The site we have is superb, suiting industrial and warehouse occupiers alike with the key benefits of immediate access to the A38 and J28 of the M1 plus huge power supply available on site for any industrial or manufacturing use. 

Completion of this deal, the letting to Midland Aerospace and the occupation of the building by the Co-op will see the site’s profile and activity rise hugely and with other deals already in the offering, hopefully there will be further good news to report soon.  Good news for Castlewood certainly means good news for the local economy.”

James Richards, Development Surveyor in charge of the site from Clowes Developments commented:

“This is another tremendous deal for Castlewood in what has been a busy and hectic, but most importantly successful 2012.

We really hope that this design and build deal where a bespoke unit was constructed for a local occupier within 9 months of completion of legal documentation shows how speedily local occupiers can be housed in bespoke premises which suit their needs, with property delivered on time and on budget. 

We still have over 80 acres left at Castlewood and from the deals completed this year we very much hope that 2013 will prove to be equally successful as we certainly have the scope to provide occupiers with bespoke solutions.

Equally, given the sites superb location at the junction of the M1 at Junction 28 and the A38 these deals confirm again that this really is one of the regions prime locations and wiith negotiations ongoing on various other propositions at present we hope that 2013 will bring similar success to the year just gone.”

For full information on the Castlewood scheme or to discuss your potential requirement please contact Tim Gilbertson at FHP on 0115 9507577.

FHP Property Consultants are delighted to announce the expansion of Newson Gale, a supplier of static earthing solutions to industrial users. The company have been based in this area of Colwick for some years and are experiencing positive expansion and have therefore elected to take a further unit at City Business Park just off the main Colwick loop road to the east of Nottingham City Centre.

The property comprises a terrace of four recently constructed light industrial/trade counter units and have proved popular with the local market in the last 6 months.

Mark Tomlinson of FHP Property Consultants who acts on behalf of the landlord jointly with Property Consult commented:-

“The completion of construction of these units took place at a difficult time which coincided with the decline of the economy. This resulted in subdued demand for trade counter units and light industrial premises in this location. The units had stood empty for some time and we were invited to market the premises earlier this year as a result. Following only a slight correction in the quoting rents and a new marketing strategy we have generated encouraging levels of interest for these units and there is now only one unit left available on site.

The remaining unit extends to 3,250ft², a good size for a local occupier seeking a modern and well presented unit in a prominent and well accessible location to the east of the city.”

For further information please contact Mark Tomlinson on 0115 8411134 or mark@fhp.co.uk.

FHP Property Consultants are delighted to see that the refurbishment and fit-out works have commenced for Europcar to take occupation at A1 Cranmer Road, West Meadows Industrial Estate. The end unit which is located just off Derby’s Pentagon Island is going to be the new Derby hub for Europecar who are having an extensive refurbishment.

George Dunnicliff at FHP Property Consultants acting on behalf of the client commented:

“I am delighted to see that conversion works have commenced down at Cranmer Road ready for the Europcar to take occupation in February. I am confident the former Peugeot showroom will convert into an excellent new home for Europcar and allow them to continue to offer their service within the Derby Market.”

For further information on this property please contact George Dunnicliff at FHP on 01332 343 222 or george@fhp.co.uk.

Unit 18.5 at Amber Business Centre has been let on a full repairing lease to a timber famed process company. The unit which extends to 2,235ft² has been let on a year’s lease.

FHP Property Consultants are delighted to announce Johnsons Removals have completed the lease at 21 Enterprise Way, Jubilee Business Park. The property which extends to 7,144ft² has been let bay way of a new full repairing and insuring lease.

Further details on this transaction are available upon request from George Dunnicliff at FHP on 01332 343 222 or george@fhp.co.uk.

Acting on behalf of long term investor clients, FHP have been instructed to market jointly with CBRE a superbly located warehouse just off the M1 at Junction 28 of the Motorway. 

Sitting adjoining the A38, formerly occupied by NYK Logistics, the building offers a prime position within yards of Junction 28 of the M1. 

With the benefit of a large yard, separate car park and extensive dock level doors plus level access doors too, the building also benefits from two storey fitted offices. 

Offering well presented, cost effective space, the property will hopefully plug a gap in the market locally for space of this size. 

Tim Gilbertson of FHP who is dealing with the marketing commented: 

“Buildings of this size are few and far between in the market at present.  To have over 100,000ft² of space set literally within seconds of the M1 is rare indeed and that fact, coupled with good presentation, a large yard and extensive delivery doors means that hopefully the building will be well received and interest will be strong. 

In addition to these attractions, our client is prepared to offer a flexible lease and by approaching some parties known to be in the market already prior to formal marketing commencing we already have tentative interest.  

Hopefully this will develop quickly and therefore if any parties are keen to take a look at this rare visitor to the market then I would urge them to contact me as soon as possible”. 

For further information please contact Tim Gilbertson at FHP on 0115 9507577.

FHP Property Consultants have secured the letting Unit 2, County Business Park close to the Notts County ground in Nottingham City Centre. The property has been let on a new 10 year lease to Yesss Electrical to Provide an electrical trade counter on the site. Yesss Electrical are now in the process of undertaking their shop fit out with a view to being operational early in the new year.

Yesss Electrical have recently acquired a number of properties throughout the UK and will soon become a familiar brand within the electrical wholesales market. The Company are currently planning to open more than 80 sales counters in the UK over the next 12 months and are set to open more than 200 in the coming years.

George Shread of Clarke Holdings, the Landlords commented:-

“After considerable interest in Unit 2 Mark Tomlinson of FHP has successfully let the property to Yesss Electricial Clarke Holding’s preferred choice of tenant. Yesss Electricals’  commitment to the extensive fit out can only assure Clarke Holdings that the future prospects of the site and County Business Park can only be enhanced by a quality tenant such as this.”

Mark Tomlinson, Surveyor at FHP Property Consultants who acted on behalf of the landlord in the deal commented:-

“I am delighted to have achieved this letting to such a strong operator. There are already a number of trade counter operators on site, selling a range of goods and Yesss Electrical will certainly add to the trade offer in the area. This property has good prominence as well as being a familiar location close to Nottingham City Centre just a stone’s throw away from Notts County ground.”

He added:-

“We now have one remaining unit on site with similar prominence which could suit an alternative trade user well with the added bonus of being opposite Yesss Electrical who will inevitably bring in many customers to the area.”

Jim Hewitt of Yesss Electrical commented:-

“We are delighted to be opening soon in Nottingham so we can bring our exciting electrical supply business to the market place. The size of the building gives us scope to build the most exciting sales counter in the city and easily carry our 6000 stock lines worth £250,000. The site offers superb access from all areas of Nottingham and is situated close to the city centre so fulfils our requirements to serve all trade and retail customers. FHP and the landlord handled our agreement very smoothly and made it very easy for us to bring our business to Nottingham”.

One of the most experienced developers of industrial sites for growing businesses has begun work on a new site in a prime location on the Derbyshire-Nottinghamshire border.

PMW Properties, the development firm run by the former textile entrepreneur Mike Wrigley, is transforming a former plastics factory less than a mile from Junction 28 of the M1 into a range of industrial units designed to suit businesses looking to make room for expansion or take their first steps on to a prime site.

It is the latest in a series of developments by PMW around the Derbyshire-Nottinghamshire border, which have proved extremely popular with small to medium-sized businesses looking for wellconnected locations in which to expand. Now known as West 28, the latest site is on the longestablished Clover Nook Industrial Estate and offers direct access to the Midlands main strategic road network through a location right next to the A38.

The site comprises four units totalling 74,000 square feet of space, the units ranging in size from 7,500 to 40,000 sq ft. They can be bought or rented on flexible terms, include office space and will be suitable for a range of uses looking for a modern, professional location which has fast access to the key eastwest and north-south road networks.

It is a rare opportunity to rent or buy high-quality space in a market where the lack of new build industrial space has meant well-located premises are few and far between, says Mike Wrigley. “This is a market where you really do have to move fast, all the way from developers securing opportunities with good potential to occupiers finding the right site.

“The area around Junction 28 is, if anything, even more competitive because there are so many small to medium-sized businesses who have been holding back during the downturn but are desperate to expand. We have developed sites on both sides of Junction 28 and they have done remarkably well, despite the downturn. That is testimony to the underlying strength of the local economy.”

West 28 is being jointly marketed by Laura West, of the Nottingham property consultancy FHP and Sean Bremner, of the Nottingham office of Lambert Smith Hampton. Laura West, who has acted for Mike Wrigley on a number of other developments, says she is expecting strong interest in the new development.

“This is one of the largest sites to have come on to the market for sometime, and all the signs are that the space is going to be snapped up pretty quickly. It ticks all the boxes in terms of location, size and quality and the fact that it is being developed under the PMW banner gives it considerable added credibility.

“We are regularly being contacted by businesses who need to expand but just can’t find the space because so little new build is coming on the market. I think they’re going to sit up and take notice when they see that it’s PMW developing West 28 because they know it will be a sensible, high quality refurbishment which brings space to the market which is pretty much plug and go. We have hardly started marketing yet the inquiries have already started.”

Sean Bremner added: “What few people realise is that the East Midlands economy has remained remarkably strong during the downturn, with global manufacturers and their associated supply chains keeping regional business ticking over at a healthy level.

“That has filtered down to SME territory, where there is a tradition in Derbyshire and Nottinghamshire of well-run privately-owned firms who always operate within their means. The result is a surprisingly high demand for good quality industrial space, especially in locations which link up to the A38 and M1. West 28 is an excellent site and we think the flexible terms are going to prove very attractive to a wide range of potentials occupiers.”

ENDS

For further information contact Laura West at FHP on 0115 950 7577

Diamond Interiors, a local fit out company, are the latest tenants to take space on the increasingly popular Enterprise Park Industrial Estate in Hucknall. This move marks a substantial expansion for Diamond Interiors following a positive increase in contract work.

Mark Tomlinson, Surveyor at FHP Property Consultants commented:-

“Following active asset management of the site the site has gone from 35% occupied to 70% occupied in the space of 2 years with 12 new occupiers welcomed onto the estate taking over 31,000 sq ft of space. Local companies have been quick to take up the flexible lease terms on offer, something of paramount importance to small businesses at this time considering the continued nervousness in the market.”

“We still have a number of units available from 1,200 sq ft up to 2,000 sq ft and we are due to get another round of internal refurbishments underway in order to present these to the market.”

Acting on behalf of Scottish Widows Investment Partnership, Tim Gilbertson, Director of FHP is pleased to announce the disposal of prime high bay warehouse accommodation at Junction 26 of the M1 which has been let to Asda Stores Limited.

The deal concluded sees over 100,000ft² of prime space let to this blue chip covenant on a long term lease.

Offering prime accommodation the building was secured by James Darby of Colliers Birmingham office and will serve as Asda’s Nottingham base for their ever growing home delivery business.

At a time when the property market proves difficult and the economy overall is tough, this deal has local and indeed regional importance as it highlights again how prime well presented space is still a sought after commodity as stock levels remain limited throughout the Midlands.  This, coupled with the building being let to a blue chip covenant has hugely impacted in a positive way on the owners investment whilst creating a superb base for the continued expansion and success of Asda’s home grocery delivery business.

Tim Gilbertson commented:

“Having acted on various other units in the area for Scottish Widows for many years I was delighted to put this building to the market.  Rather than be daunted by the scale of the instruction its magnitude immediately appealed to me as it was clear from recent dealings that whilst demand across the warehouse and distribution sector is limited, equally the supply of high quality products such as this has been, and remains, poor.  This was borne out in two ways as the marketing and transaction progress. 

Firstly, the building was put ‘under offer’ within a matter of days of marketing commencing and this lead to a swift disposal being secured. 

Secondly, again due to the quality of this property and the lack of competing space available throughout the Midlands we had to turn away any number of seriously interested parties which is particularly disappointing at a time when demand remains generally still weak.

The dearth of high calibre big shed space in the East Midlands is becoming a real problem and we are seeing a continuing trend with potential occupiers of 100,000ft² plus being frustrated in an attempt to secure property as appropriate availability is simply not there.

As a result we are now witnessing some companies turn to the build to suit solution and whilst this offers a lengthier process to ultimately occupy and operate from an appropriate building it does spell good news for developers and inward investment around the region and hopefully the built to suit path may be followed by any number of occupiers in the near future.

I hope to be reporting shortly a significant build to suit letting of 60,000ft² in the region which again has arisen as a result of the lack of immediately available space. 

Whilst I still believe that speculative development is not yet on the horizon for most developers in the Midlands, certainly with the current stock level difficulties sooner or later a developer will be brave and commence speculative construction of large sheds and I believe that that if their timing is right their reward will quickly follow as not all operators can wait for build to suit opportunities to be constructed. 

We are though obviously delighted to have secured this disposal for our clients increasing significantly the value of their investment and equally we are sure that it will serve Asda well for their expansion in the region.”

Haseeb Hassan from Scottish Widows Investment Partnership commented:

“I am absolutely delighted with this letting and especially since this unit only became vacant at the start of 2012 when the previous tenant went into administration.  This was a huge void for the Fund and in the current climate where valuers are taking a bearish view on void periods and incentives the impact on the overall Fund performance was significant.  I was impressed by the way Tim at FHP remained confident of finding a tenant sooner rather than later and the proof in the pudding is how quickly he secured this tremendous deal for the Fund.  I wish Asda well in their new operations in the region and I think it is a fantastic story to the amount of new jobs it will deliver for the area.”

Asda Stores Limited were represented by James Darby of Colliers Birmingham office.

For further information or to see how FHP can help you secure and occupy for your building please contact the team on 0115 9507577.

Award winning company Hall-Fast Industrial Supplies has moved to new premises on Anglia Way in Mansfield.

The company, which was previously located in Boughton, near Ollerton, has moved to larger premises due to the growth in revenue from both local and export trade. Hall-Fast also wanted to be closer to a larger community of businesses and improve the convenience for trade customers to buy their range of over 48,000 industrial supplies products which include fastenings, drill bits, tools, abrasives, work wear, access equipment, personal protection equipment, office furniture and janitorial supplies.

The new premises which comprise 5,500 square feet of office and warehouse space also includes a new and extended 980 sq ft trade counter area displaying even more products from leading brands such as Britool, Snickers, Dickies, Karcher, Dewalt and Duracell.

The total purchase and refit cost of the new building was in excess of £270,000 and was concluded with the help of regional growth fund grant arranged by NatWest.

Commenting, Managing Director Malcolm Hall said, “Even though we now export to over 75 countries, serving the local business community is still a key factor to our future success. We wanted to reach a much wider audience of trade customers and are proud of our reputation for great customer service, no minimum orders, and competitive pricing. We only stock the leading brands because it means our customers are buying reliable products that will outlast cheaper alternatives.”

The purchase was dealt with by local advisers which included Laura West of property agents FHP and Tom Stendall of Hopkins solicitors.

Laura West, Surveyor at FHP Property Consultants commented, “It was very pleasing to handle the sale to a local business such as Hall Fast Industrial Supplies which was concluded very swiftly. This sale demonstrates that there is a shortage of well presented and located premises within the area available on a freehold basis. I wish Hall Fast all the success at their new business address and hope that the business will continue to grow from strength to strength.”

Tom Stendall added, “As a local solicitor who has always lived and worked in Mansfield, it is particularly pleasing for me to work with a successful local business and to be involved in their expansion.”

Hall-Fast was founded in 2006 with only £5,000 start up capital which Malcolm raised by selling his beloved BMW. In the last three years the company has won nine awards and is the current holder of the Midlands Exporter of the Year award. They are also finalists for Business of the Year and Achievement in International Business award in the forthcoming Derbyshire & Nottinghamshire Chamber of Commerce awards.

As well as running his company, Malcolm also does a lot for the local community. He is a board member of Mansfield 2020 and West Notts College, and is currently funding a community programme with Nottingham Rugby Club. This is aimed at encouraging grass roots rugby and helping to overcome child obesity. He has also pledged to raise over £20,000 for Fountaindale School to enable it to extend the facilities it can offer to children with complex physical and sensory needs aged between 3 and 19.

In what is proving to be a highly successful year for Clowes Developments Castlewood scheme, just off J28 of the M1 Motorway, the details are emerging of the latest transaction concluded.

With the site seeing the ongoing construction of a 500,000ft² distribution facility for the Co-op and construction also rattling on for a 60,000ft² bespoke unit currently being constructed for Meridian Lightweight Technologies, Clowes Developments are pleased to announce a further new and indeed significant occupier to the scheme.

Their agent, Tim Gilbertson of FHP has concluded a letting of 40,000ft² of prime production space to local company, Midland Aerospace who will shortly take occupation of what will become a world class engineering facility.  Heather Dixon, Partner and commercial property solicitor from Flint Bishop LLP, negotiated the agreement for lease and the lease. Russell Deards, Flint Bishop, Head of Construction dealt with construction agreements required. 

This deal should again prove to be of huge significance given that once more, as was the case with the Meridian Lightweight Technologies letting, this deal sees another local company who have faith in their performance and a burgeoning order book expand and relocate to prime new build space, displaying commendable confidence in their business, this site and the economy as a whole.

Midland Aerospace’s relocation will provide them with not only a first class facility but also room to grow for the future and provides Clowes Developments with a further boost for this prime site just off Junction 28 of the M1 were still there is capacity to construct units from 20,000ft² up to 250,000ft².

Tim Gilbertson of FHP who negotiated the transaction on behalf of Clowes, commented:

“Whilst a 500,000ft² disposal to the Co-op is a great deal, personally I take more satisfaction from the letting of 40,000ft² to Midland Aerospace and the previous design and build deal for 60,000ft² to Meridian Lightweight Technologies as these transactions show local companies expending and relocating, bucking the general doom and gloom in the economy as a whole and making real progress for the benefit of both themselves and the local population. 

Castlewood has always targeted these occupiers as Junction 28 of the M1 and the surrounding towns has previously been a strong manufacturing and distribution base and we always hoped that Castlewood would over time fill the gap in the marketplace for prime space for companies such as these who are seeking to expand and relocate whilst crucially retaining their skilled workforce. 

Our latest deal with Midland Aerospace confirms this belief and with ongoing discussions on a further 25,000ft² unit and 40,000ft² design and build deal it does seem as if the local market around Junction 28 is doing all it can to buck the trend of economic uncertainty throughout the Country.  Hopefully we will be announcing further new deals shortly.

Rest assured though with many acres left we have the ability to accommodate any occupier, local, regional or national on a purchase or rental basis from as little as 20,000ft² up to approximately 250,000ft².

We do see though the relocation of two local companies to the site as a real sign of confidence and hopefully a shot in the arm for the local economy too.”

Heather Dixon, Partner and commercial property solicitor at Derby-based Flint Bishop LLP says:

“This is yet another deal where FHP and Flint Bishop have worked together to deliver a project for Clowes Developments as part of the Castlewood scheme.  The continuing demand for premises at Castlewood is not only down to its Midlands location, just off of Junction 28 of the M1 which offers great access to all parts of the country, but Clowes reputation to deliver a tailored solution. 

As a specialist engineering supplier to the aerospace industry, Midlands Aerospace’s move to Castlewood from Calladine Park in Sutton-in-Ashfield ensures its expertise stays in the region. Not only is this important for local jobs as the company continues to expand, but it also supports other firms within the supply chain.”

James Richards of Clowes Developments commented:

“The deals that FHP have secured for us on Castlewood are significant in terms of both creating momentum for the site but also raising its profile locally and indeed nationally.

Whilst we were delighted to secure the Co-op for their national distribution facility with the building due to be handed over any day, Castlewood’s local profile has been raised hugely by both the bespoke unit of 60,000ft² being constructed for Meridian Lightweight Technologies who should be moving in towards the end of the year and also by the letting of 40,000ft² to Midland Aerospace. 

These two smaller deals are the ‘meat and drink’ for this site and whilst 500,000ft² lettings are always welcome they tend not to come around too often! 

The quality of location we have available here though has secured the Co-op and we hope that there may be other national and international occupiers following shortly. 

In the interim though, we very much see Castlewood filling a gap in the market locally for companies seeking anything from 30,000ft² upwards who are being frustrated in their attempts to move by the lack of good quality stock available.

With the ability to conclude design and build construction of units of this size within a matter of months from completion of terms, our rapid build, and ability to deliver product on time that has been proved by the Co-op development, stands us in good stead going forward and with ongoing discussions on various options with local and indeed national occupiers we trust FHP will be bringing us more new occupiers to the site in the very near future.”

Midland Aerospace are the market leading partners of aerospace suppliers from major aircraft manufacturers through to small maintenance operations.  Their skill and knowledge, based on an exceptional workforce, has attracted clients from around the world and the move to a world class engineering facility can only further enhance their reputation and performance. 

Managing Director at Midland Aerospace, Eamon Lyons commented:

“We are delighted to have secured the facility at Castlewood, which will enable the business to meet the expectations and needs of our customers.  The new factory and offices will provide a unique opportunity to establish a world class manufacturing operation here in the East Midlands.  The new facility will provide the business with the opportunity to create additional capacity and therefore establish Midland Aerospace as a key player in the aerospace market.”