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. 

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.”

FHP Property Consultants are delighted to announce the letting of the former Tram Depot on King Edward Street in Nottingham City Centre. The property comprises a substantial Victorian former Tram Depot previously used in conjunction with Nottingham’s original tram system in the late 19^th Century. This 10,000ft² building will now be put to good use as a new bouldering and climbing centre and will undergo a comprehensive refurbishment and fit out for this purpose over the coming months.

The climbing centre will be set up by the Yorkshire Climbing Company Limited, who already have a successful operation in Leeds and saw the opportunity for expansion within Nottingham.

Mark Tomlinson of FHP Property Consultants who acted on behalf of the landlords in the transaction commented:-

“I am delighted to have achieved this letting to the Yorkshire Climbing Company as this not only represents a good news story for Nottingham but I am also pleased to see a building of this nature put to good use, which will undoubtedly create an excellent leisure activity for the surrounding student and young professional population.  I cannot personally think of a centre of its kind in the Nottingham City area and I wish the Yorkshire Climbing Company every success in this venture.”

Derbyshire-based industrial developer Clowes Developments has revealed another major deal at Castlewood, the strategic office and industrial site which is expected to become a significant employment centre close to the M1 motorway. 

Meridian Lightweight Technologies, a world leader in the supply of advanced, lightweight alloys to the global automotive industry, has signed up to a brand new high quality building which will allow it to continue its expansion programme in the UK. The deal has been announced as work continues to construct a massive retail distribution centre for The Co-operative Group elsewhere on the Castlewood site. The Co-operative Group distribution centre will be home to around 900 staff alone and it is thought the whole site could one day host up to 5,000 jobs.

Meridian Lightweight Technologies is part of a global group based in Canada which is renowned for its expertise in die-casting magnesium, an advanced lightweight alloy which is in demand by an automotive industry looking to improve the performance of its products through the use of high-strength lightweight structures and components.

The company’s UK operations are already based in Nottinghamshire and the move to a new, purpose-built 60,000 sq ft facility at Castlewood will enable it to proceed with planned growth. Geoff Storr,of Meridian Lightweight Technologies, a global supplier of lightweight automotive component commented:

“The new facility allows us to expand the machining of large, lightweight magnesium structural components and support the growing magnesium casting operation, located in nearby Caladine Park.”

Canadian based Meridian expects completion of the new facility in late 2012, with production beginning in 2013.

James Keeton of Jones Lang LaSalle who acted for Meridian Lightweight Technologies added:

“We are very pleased to have secured a new design and build manufacturing facility for Meridian at Castlewood, satisfying both their location and operational requirements and enabling the continued expansion of a high tech manufacturing business within the East Midlands”

Like the Co-operative Group deal, the Meridian contract has been secured on Clowes Developments’ behalf by the Midlands property consultancy FHP. Director Tim Gilbertson, who is handling marketing of Castlewood, says it represents another landmark deal for the site, which is just off the A38 less than a mile from Junction 28 of the M1 motorway on the Nottinghamshire-Derbyshire border.

He commented:

“This is without doubt another coup for Castlewood and a tribute to Clowes’ insight in purchasing and developing what is going to become one of the key strategic industrial and commercial locations in the East Midlands. The Co-operative Group distribution centre is a giant building, but the Meridian development has its own particular significance.

“The wider commercial property market has been subdued for some time because continuing economic challenges have sapped business confidence. But here we have one of the first design-and-build projects for a long period, and the business expansion which lies behind it has to be taken as a really positive sign that there is growth out there.

“We have been working with Meridian Lightweight Technologies for some time to help them identify potential locations for their expansion, and one of their key requirements was that they should be able to make a move swiftly. Speed and flexibility is one of the hallmarks of Clowes Developments and their commitment to delivering a finished product within six months of signing contracts played a key part in sealing the deal.”

Castlewood is rapidly becoming established as one of the most sought-after industrial and commercial development sites on the M1 corridor in the Midlands. It is just off the A38 near Junction 28 of the M1, providing rapid access to north-south and east-west markets. Besides the 500,000 sq ft Co-operative Group distribution centre and the Meridian Lightweight technologies building, it is also likely to see a range of industrial and office developments.

James Richards, of Clowes Developments, said:

“Castlewood is now becoming firmly established as the major industrial and commercial location in the East Midlands, with all the major cities within an hour’s drive and a workforce of two million people on your doorstep. We were thrilled when The Co-operative Group decided to consolidate its regional food distribution centres on to the site and the Meridian Lightweight Technologies deal is another significant transaction.

“Besides the strength of Castlewood’s location, we are committed to delivering high-quality developments which meet the needs of prestige clients in an uncertain and fast-changing climate. When we say ‘built-to-suit’ that is exactly what we mean – both in terms of the specification of the development and the timetable to which we deliver. This was a key factor for Meridian Lightweight Technologies and I’m pleased to have another prestige occupier moving to the site.”

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

“This is another in a long line of deals where FHP and Flint Bishop have worked together to deliver a project for Clowes Developments.  This is excellent news for the local economy and further enhances the region as the UK centre for manufacturing and engineering excellence.”

Tim Gilbertson concluded:

“What people can take from these deals is that there is a very good location available with an experienced developer committed to helping businesses meet their specific needs. That kind of commitment makes a difference in a market lacking confidence, and I expect to be announcing further deals at Castlewood shortly.”

FHP are delighted to announce the recent letting of 37 Longbridge Lane, Ascot Drive, Derby. The refurbished space which extends to 416m² (4,478ft²) has been let by way of a new five year full repairing and insuring lease to MDS Aero Support Limited.

MDS Aero Support Limited are the supplier of the turnkey test facility and engine test systems for the aviation, industrial and marine gas turbine industries. MDS develops and deploys a comprehensive selection of products and services to deliver the most trusted and responsible solutions for turbine tests.

George Dunnicliff of FHP Property Consultants commented:-

“I am delighted to announce the recent completion of 37 Longbridge Lane to MDS Aero Support Limited and it is extremely pleasing for a new occupier like this to come to Derby.  I wish all the team at MDS all the best of luck for the future’’

For further information on this letting or for other industrial units which are available in Derby City Centre please contact George Dunnicliff on 01332 343222 or George@fhp.co.uk

FHP are pleased to bring to the market this prime warehouse/industrial unit prominently located on Ratcher Way on the popular Crown Farm Industrial Estate in Mansfield.

Forming part of this successful estate, the building is offered to the market at a very high standard, with fully fitted warehouse or production space together with two storey fitted offices and good levels of on-site parking and excellent delivery access. The property also benefits from a fully fitted sprinkler system.

Crown Farm Industrial estate sits within moments access of the MARR and is closely located to Junction 27 and J28 of the M1 whilst remaining within a short drive of the centre of Mansfield.

The property provides accommodation totalling 3,522m² (37,912ft²), on a over sized site area of 0.959 hectares (2.37 acres)

A new lease will be offered and early interest is sought as potentially any specific requirements that interested parties have could be incorporated into the overall refurbishment if required.

FHP have been appointed sole agents by the landlords Ashtenne Asset Management to continue our long term history of dealing with this development.

Ashtenne Asset Management are one of the UK’s leading providers of industrial and other commercial property space, managing more than 3,500  industrial units, warehouses, workshops and other business premises, in over 325 locations across England, Scotland and Wales.

Victoria Mann, Regional Director for Ashtennes Yorkshire Region comments:-

“We are pleased to be represented by FHP to market this unit, which is in a sought after location. Paired with Ashtennes’ reputation as a proactive and hands on landlord, we are anticipating early interest in this high quality warehouse.”

With other units on the estate now occupied, we hope to encourage interest swiftly in this building which is a rare high quality opportunity to come the market when supply of good quality space remains thin.

For further information or to arrange a viewing then please contact Laura West on 0115 841 1149.

END

Phase 1 of Victory Park in Derby is full to capacity following a series of deals by FHP and Salloway, and the property agents are pleased to announce that Phase 2 of the popular scheme is now available.

Developed by Revelan Group Plc, the first phase of the 20,000ft² courtyard element of the site is now fully occupied and has seen existing Derby based occupiers relocate to benefit from the high quality units available and the terrific location, whilst also bringing new jobs and new business in the process.

With a combination of leasehold and freehold deals, the fully occupied first phase of Victory Park is defying the economic downturn and now FHP and Salloway are offering Phase 2 of the scheme, where build to suit options are available from 15,000ft² to 60,000ft². 

Tim Gilbertson of FHP said:

“After the success of Phase 1 which saw the likes of Western Power Distribution and Gardner Aerospace come to the site, our client’s decision to speculatively construct units has proved vindicated despite the economic turmoil of the last couple of years. 

“Undoubtedly the quality of buildings constructed, the superb location and quick access to the A50 and Junction 24 of the M1 have proved to be hugely beneficial in our marketing and no doubt these key factors will shine through and attract interest in Phase 2 which we are pleased to launch today.

“Within Phase 2 we have the ability to construct units from 15,000ft² to 60,000ft² for purchase or lease and we will be delighted to receive initial expressions of interest.  With the way the industrial and warehouse market has panned out over the last couple of years, we are now starting to see a real shortage in the availability of quality stock.  This is hardly surprising given the lack of new development in recent years and therefore we are starting to see a number of design and build deals in the pipeline which demonstrates again the lack of quality space that has been developed that high end occupiers need.

“We are in no doubt that Phase 2 of Victory Park will fill the gap in the market and look forward to hearing from interested parties.” 

Marc Ballard of Salloway said:

“We haven’t been surprised by the popularity of Victory Park.  There has been a real lack of good quality warehouse stock on the market over the last few years due to a lack of speculative developments across the region.  This was a rare opportunity to locate to a high specification site in a good location and we were able to meet specific requirements for occupiers looking to relocate there.  Now we are seeing design and build opportunities coming to market and we are confident that enquiries will continue.

“Phase 1 has seen companies such as Western Power Distribution and Gardner Aerospace locate to the site, and due to the fact that is located right next to Rolls Royce, we are continuously receiving enquiries from sub-contractors too.  As Rolls Royce continues to grow, it is quite clear that the company is recession proof!  This seems to be having a positive impact on lettings in the surrounding areas too.”

Andrew Dodson of Developers, Revelan Group plc commented:

“The scheme at Victory Park has been one our most successful developments.  We have been pleasantly surprised by the significant interest in the scheme across all sectors and from a wide cross section of occupiers.  We therefore have no doubt that Phase 2 will prove equally as popular.”

For further information on the scheme please contact either of the agents.

Photo taken by Oliver Astley at the Derby Evening Telegraph.

Acting on behalf of investor Gill Merritt, Tim Gilbertson BSc (Hons) MRICS, Director of FHP is pleased to report the swift sale of an attractive long term investment in Bulwell.

Unit B, Camberley Court which is occupied by Nottingham Community Housing Association and has provided their main base since Tim Gilbertson of FHP let the building to them some years ago, has just been sold.  After providing income for FHP’s landlord client, the decision was recently taken to free up assets and sell the investment and FHP were instructed again to undertake this.

Despite the economic turmoil, a sale was quickly agreed, after substantial interest had been stimulated in the local market from private investors but ultimately the current occupiers purchased the building to ensure their long term occupation continued.

Tim Gilbertson commented:

“Having originally sold this building to my client when it was vacant then let it on her behalf to the current occupiers and now ultimately having sold the investment, it was with great pleasure that we saw this sale through to completion strengthening yet again our ongoing relationship with this particular client. 

I am pleased to say that our client’s expectations were surpassed once more, which is what we always strive to achieve and hopefully manage to do with the vast majority of opportunities.

At a time when deals in all sectors are scarce, we continue to try and buck the trend and yet again this deal demonstrates our ability to do so.”

Gill Merritt commented:

“Thank you for the amazing ‘quick sale’.  As always, your service and support is much appreciated.”

For further information or to see how FHP can help you and how we can try and meet and indeed surpass your expectations please contact the team on 0115 9507577. 

SOS International has become a leader in the development of specialist reclamation and recycling programmes including the reprocessing of metals for future use.  It focuses on the reclamation and recycling of specialist materials.

Peer Hashmi, chief financial officer of SOS International in the UK, commented:-

“We chose Langham Park Berristow Lane after a careful selection process and it has become home to our European operations. There were two key criteria which the site had to satisfy – a strong location and good security. In those respects, Langham Park has proved to be ideal.”

Mr Hashmi added:-

“It is a well-managed estate with good-quality refurbished buildings and excellent transport links.”

Laura West has handled a number of deals for Langham Park at different sites and completed the original letting to SOS Metals at Berristow Lane two years ago.

Laura West commented:-

“Langham Park has a reputation for choosing sites wisely and presenting them well and Berristow Lane was no exception.”

“The potential was obvious. Although this was a tired site, the buildings had all the right facilities including goods yards, docks and loading bays and even craning. Langham then invested in re-cladding and refurbishing the buildings, sub-dividing them into workable units which could be combined where necessary to accommodate different uses. The result was 140,000 square feet of well-specified, versatile and attractive space ranged over a 10-acre site.”

“As I’ve said so many times, the clincher has to be the location, literally within sight of the point where the M1 meets the A38. This puts vast regional and national markets right on your doorstep, with east-west and north-south connections.”

The expansion of an American specialist reclamation company means a strategic business location on the Derbyshire-Nottinghamshire border is now fully occupied. 

SOS International, which reclaims the advanced materials used in the aerospace industry, originally took 15,000 sq ft of space at the Langham Park development at Berristow lane, South Normanton.

Now it has signed up to a total of 80,000 sq ft at the site, with all the lettings secured by Laura West, the FHP surveyor who has handled a series of deals in business locations around Junction 28, where Langham Park is based.

The deal also marks a milestone for Langham Park, the development company set up by Mike Wrigley and Finn Mitchell, which provides new and comprehensively refurbished sites for the Midlands industrial market.

It took over and extensively refurbished what was a former textile site less than a mile from Junction 28 of the M1 and its investment has paid off with the completion of the final letting at a site which is now home to three businesses.

Mr Mitchell, of Langham Park, commented:-

“We were delighted when SOS International first decided to move into Langham Park Berristow Lane because it meant we had endorsement from a major, American-owned business operating in an important part of the regional economy.”

Laura West added:-

“The expansion of SOS International is great news for Langham Park.  “There is a steady demand in the industrial and warehouse market for businesses who have worked their way through recession and are now looking to carefully expand”.

“The only question is where they are going to find the space when demand is outstripping supply. The answer lies with experienced developers and their advisers, who have identified where the most appealing locations are. On that basis, I think we can expect a further announcement from Langham Park very soon.”

For further information please contact Laura West on 07917 460029.  

A £15 million industrial landmark now rising out of the ground at South Normanton looks likely to be the first of a series of developments at a site that could ultimately host around 5,000 jobs on the Derbyshire-Nottinghamshire border.

The new distribution warehouse for High Street giant Co-operative Group is being built by Derbyshire-based Clowes Developments at Castlewood, the strategic office and industrial site which sits alongside the A38 where it joins the M1 at Junction 28.

The structural steel work which will support the giant 477,000 sq ft warehouse has been erected in only four weeks, and when the building is complete it is expected to provide work for around 900 people in its own right. But further deals are now imminent for a site which will ultimately be home to over two million square feet of industrial warehousing, manufacturing production and offices.

The Co-operative Group project follows hot on the heels of Clowes’ construction of a one million square foot ‘mega warehouse’ for Mark & Spencer at the East Midlands Distribution Centre at Castle Donington. James Richards, of Clowes Developments, says the speed with which the latest scheme is progressing is a testament to the company’s growing reputation as a national player in large-scale industrial projects.

He said: “The Marks & Spencer development at EMDC was a real statement of our capacity to deliver major, strategic projects for some of the most prestigious clients in the retail business, and we have hit the ground running again at Castlewood for the Co-operative Group.

“Most of the team that worked with us on the EMDC project have partnered with us again. Their expertise and commitment is written all over the swift progress they have made so far, making a 60-acre site at Castlewood development-ready and then constructing a huge steel frame in a matter of weeks. Major retailers look for high quality delivered to tight timescales and we are on course to achieve that.”

The development team behind the Co-operative Group’s food distribution warehouse is being led by main contractor Winvic Construction and project managers First Industrial Developments, who are working with architects Isherwood McCann, civil engineers Waterman Group, legal advisers Flint Bishop and property consultants FHP. They are due to complete construction in September, when a fit-out programme will pave the way for the warehouse to go live early in 2013.

James Richards says the planning authority, Bolsover District Council, has also played a positive role in helping the development to move forward: “They were keen to see us proceed with this development right from the start and that has been reflected in the professionalism they have shown all the way through. Even though they have a strict set of protocols to follow they have done everything possible to make the journey through planning a smooth one. That has given Clowes and the Co-operative Group the confidence to move swiftly.”

While the Co-operative Group building looks set to dominate Castlewood, other development sites on the park are now being cleared in anticipation of further deals. The marketing of Castlewood has been carried out by a senior team from the FHP, comprising co-founder John Proctor and industrial partner Tim Gilbertson.

Tim Gilbertson said: “The Co-operative Group’s decision to sign up for Castlewood was a major vote of confidence in the site and graphic evidence of the strength of its location. It is less than a mile from Junction 28 and links directly to a road network which gives you near-perfect North-South and East-West coverage. It doesn’t matter whether you are in distribution, manufacturing or business services, you have got access to a vast market right on your doorstep – there’s even an airport just down the motorway!

“Castlewood is about to gain some significant momentum because we firmly believe that the Co-operative Group development will be followed in the near future by some significant announcements about other businesses moving into the site. In the long-term we expect to see the whole spectrum of business on the site, ranging from distribution to production and offices.”

John Proctor added: “Clowes Development’s credentials speak for themselves. They are a long-established Derbyshire business which now operates on a national and international scale. They choose strategic sites, provide very high quality infrastructure and deliver buildings of a standard which satisfy some of the most prestigious clients in the business.

“At the East Midlands Distribution Centre and Castlewood, they have shown that there are clear alternatives to some of the more traditional locations further down the M1. Co-operative Group had a number of options to choose from but it went for Castlewood because it was partnering with a developer who was sure to deliver.”

James Richards concluded: “In time we expect to bring forward further design and build projects and potentially some speculative build too. We will be looking for some clear signs of economic momentum for that to happen. Hopefully, the Co-operative Group building will be a sign in itself.”

Acting on behalf of UDG, John Proctor of FHP’s Nottingham Office has completed the acquisition of Unit 1 Fulwood 28, a ten year old distribution unit constructed by Sladen Estates providing approximately 80,869ft².  This acquisition forms part of UDG’s strategic property strategy in line with their proposed onward growth.

The lease has been taken on terms which incorporate a break clause at the end of the second year which provides UDG with the flexibility that they required.

Doom and gloom headlines about the national economy are missing an important story about growth at the grassroots. FHP Surveyor Mark Tomlinson explains how this is translating into demand at an appropriately-named business park in Nottinghamshire.

The 2012 Budget was one of those rare occasions where there was a positive focus on business – an acknowledgement that it is the UK’s army of entrepreneurs who will drive recovery and one or two measures which might help them achieve it.

It makes a welcome change from some of the headlines we have been living with over the past few months, which have laboured relentlessly on rising unemployment, spiralling inflation and a eurozone crisis that has dragged on so long it seems like a soap opera. Taken together, this negative news knocks confidence.

That is the theory, anyway. But from what I have seen in Nottinghamshire over the past few months, business at the grassroots is desperately trying to get away from this downbeat approach. Start-ups, small firms and growing businesses are all looking to find a way forward. The evidence surfacing in the commercial property market is that the spirit of enterprise is actually alive and well, with healthy demand for both industrial units and small offices on both leasehold and freehold terms.

There is no better place to see it in action than at Enterprise Park at Hucknall, an industrial estate with units from 1,400 sq ft upwards which is well-placed to serve the industrial heartland of the local economy. Since Christmas, we have completed leases on six units and we are now discussing terms with a number of other potential occupiers. All of these businesses are either start-ups or small, local businesses looking to grow – encouraging evidence that the kind of grassroots growth that the UK has been crying out for is there to be found if you look for it.

We are also seeing some of the classic signs of a market which may be approaching some kind of tentative turning point at the grassroots. There is a shortage of supply of units under 2,000 sq ft and this is inevitably pushing up the freehold values of those premises which are available. A case in point is an industrial unit close to Nottingham city centre which we sold only recently. It was well-presented, suitable for a variety of different uses and the price tag of £125,000 reflect the lack of supply.

Just how strong demand is, was illustrated by the fact that the unit became the subject of a best bids process from a number of interested parties. The result? We have just completed a sale not for £125,000 but for £137,000. This is much better than we had anticipated and demonstrates that the demand from business is out there.

While the office market remains more challenging territory at the moment, the lower end of the market is also showing some positive signs with, once again, the demand coming from small and newly-formed companies. Quantum House on College Street in Nottingham, which underwent refurbishment last summer, is now almost full with 11 offices let during the last seven months.

In another encouraging sign, we have also sold and office building on Friar Lane and put another under offer, with the strong demand driven by the limited supply of alternatives. This goes to show that, despite the sentiment, now is not a bad time to sell your property and reinvest the proceeds elsewhere.

The market remains a long way off the boom conditions we enjoyed just a few short years ago. But business has had enough of the negative news. Yes, it’s still challenging but the evidence is that small and medium-sized companies in Nottinghamshire would rather focus on making progress. We’re here to help them do that, and one way to move forward in a cautious climate is to tap into sound market knowledge of the commercial property market. Here’s to a year of enterprise!

For further information contact Mark Tomlinson at FHP on 0115 950 7577

FHP Property Consultants acting jointly with Savills are delighted to announce the sale of Alpha House, Bulwell days before it reached the auction room! Alpha House, a property comprising a range of office and industrial accommodation totalling 9,867ft² was due to be entered into the March Savills auction. Strong interest was generated only days after putting the property on the market and several offers received.

Paul Giles, Head of Commercial Auction at Savills Nottingham comments:

“The sale of Alpha House prior to auction demonstrates the pent up demand from owner occupiers looking to secure premises quickly and this trend is anticipated to grow as the perception of the traditional auction dies away and buyers realise there is far more than exhausted stock on offer.”

Ilkeston based, family run business, Tank Farm Services successfully secured the premises, ahead of the auction date. Jason Tooley, Managing Director commented “We have been actively looking for new business premises for the past six months, this property ticked all the boxes in terms of the company’s expansion plans and we will be investing further in upgrading the property. The search for a new premises was prompted by gaining substantial orders totalling £2m for the supply & installation of  tank cleaning equipment to a Middle Eastern and a Major UK oil company.”

Vendor, Steve Ellis of Ellis Interiors commented

“We have found the auction process to be very effective and unlike the Private Treaty method of sale where properties can remain on the market for several months, the sale was concluded in a matter of weeks and a far stronger sale price has been achieved.  The swift sale will allow us to relocate to a new showroom where we can place more emphasis on the display of the finished products and where customers can see for themselves the quality of our kitchens and discuss their own bespoke requirements.”

Laura West, Surveyor at FHP Property Consultants concludes:

“I was delighted to be involved in this successful transaction, it is refreshing to deal with two parties who were keen to have a sale concluded swiftly. The strong interest in this site and suitability for Tank Farm Services as new occupiers further strengthens my comments that demand for premises on a freehold basis is strong for well-placed and presented stock.“

For further information on this disposal or other opportunities in the area please contact Laura West, FHP Property Consultants on 0115 841 1149 or Paul Giles, Savills on 0115 934 8054.

END

A flurry of deals in Nottinghamshire has brought renewed optimism that the commercial property market could be starting to gain some momentum after some years in the doldrums. Property consultancy FHP says they have seen a series of deals in the industrial market, particularly in North Nottinghamshire suggesting that there is a growing demand, from small to medium-sized businesses for expansion space.

FHP Surveyor Laura West, who focuses on the market around the Nottinghamshire-Derbyshire border, commented: “There’s no question that 2012 has started well, much in the same way that it did in 2011. What we’re hoping for this time though, is that the market doesn’t lose momentum in the way that it did last year.”

The steady optimism of the first half of 2011 drained away from the summer onwards as business confidence weakened in the face of poor economic data in the UK and rising concerns about the growing financial tensions in the Eurozone. Laura West said: “What I think people lost sight of, was the fact that even during the second half of last year, when the fears about the Greek economy were at their height, some deals were still being done despite the difficult conditions and a backdrop of bad news.”

“I think the reasons for that were two-fold: there is a breed of conservatively-managed, privately-owned firms who have always been very careful with their cash who decided that now was the time to strike a good deal on a property which would allow them to expand. There seems to be an, appetite among some forward thinking businesses who are now looking to expand after a prolonged period of uncertainty. From what I’ve seen so far this year, the same kind of ambition is emerging from the same kind of businesses. There are certainly some competitive deals out there, particularly with property which is coming out of an insolvency, and I get the feeling that, given the right conditions, these businesses are keen to move forward and expand.”

Laura added: “No one is suggesting that some of the deep-seated problems in the market have miraculously gone away, and we’re not about to see a flurry of speculatively-built new stock rising out of the ground. But there are, some experienced developers and investors out there who understand the way these cycles work and know that the demand is there. We know from our own monitoring of the market that there is a shortage of good-quality stock and I suspect it won’t be long now before they decide that the steadily growing demand and a lack of quality properties out there means they will soon be bringing some new product to the market.”

Whilst some of the deals in North Nottinghamshire may be driven by the end of the tax year and personal financial planning, Laura West says that the deals also illustrate the ambitions of a range of businesses which, while they operate in different sectors, all demonstrate financial strength. She said: “One of the reoccurring themes of the commercial property market has been that it is difficult to put funding together because indebted banks have been reluctant to lend. However in most cases we are talking about financially healthy, carefully-run businesses who have had no difficulty putting a funding package together, either from their own resources or through borrowing. This in turn is giving the market confidence.”

Laura West says she is expecting more deals to emerge in the coming weeks, but warned that businesses looking to expand into new space would need to act fast. She said: “At the moment, we are in a situation where we have taken property on and concluded a deal before the FHP For Sale board has even gone up. That tells us about the level of demand around the Nottinghamshire-Derbyshire border and the limited amount of good quality, well-presented property. When this kind of stock does come to the market it moves very quickly and I don’t see that trend changing any time soon. But we do need more stock – the demand is clearly there and I’m hoping that in 2012 it stays that way.”

FHP is continually on the lookout for good quality properties as clearly the demand is there and we are confident that this trend will continue well into the foreseeable future.”

ENDS

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

Acting on behalf of a retained client, FHP are delighted to announce the recent letting at Booths Industrial Estate to Platinum Gym Fitness.  The property which extends to 4,272ft² has been let for a term of 10 years by way of a full repairing and insuring lease.

Platinum Gym Fitness is a start-up business in Ilkeston which has now been open for just over a month.  The gym was opened predominately for male users in addition to the ladies gym that opened on site after the Christmas period. 

George Dunnicliff of FHP Property Consultants who agreed the deal commented:-

“I am happy to see the transformation Platinum Gym Fitness has made to the premises at Booths Industrial Estate.  It is a testament to their hard work and I wish the team all the best for their future.”

Chris Law commented:-

“Although we are a new business to Ilkeston we have made a fantastic start and early indications look very promising.  I would like to thank George at FHP for his efforts in securing this building for us”

For more information on this letting or to discuss your property requirement please contact George Dunnicliff of the office and industrial team on 01332 343222.

Pictured left to right:  Chris Law (Platinum Gym Fitness) and George Dunnicliff (FHP Property Consultants)

Tim Gilbertson at FHP acting as joint auctioneer with Matt Hilton of HEB is pleased to confirm the sale of extensive warehouse premises just off the A38 at Junction 28 of the M1 Motorway at Huthwaite. 

Sold the day before the property was due to go to auction, the buildings offered extensive storage space of over 60,000ft² on a large site in a prime location.

Despite the condition of the opportunity which included a mix of older tired warehouse space, extensive offices plus some good quality newer stock, interest in the opportunity was extensive and competitive bidding was received. 

As a result the property was sold prior to auction at an acceptable figure.

Tim Gilbertson commented:

“We took this property to auction as due to its unusual configuration we had struggled to find the right purchaser initially for the building.  Whilst always receiving extensive interest in the opportunity, concluding a deal proved troublesome and therefore we advised our clients to look to the auction route to secure a quick sale. 

Pleasingly this advice proved correct, substantial interest was generated and a sale prior to auction was quickly concluded.”

Joint auctioneer Matt Hilton of HEB commented:

“We were delighted to assist with this disposal acting jointly with FHP.  Listing for sale by auction focused the minds of prospective buyers resulting in strong pre-auction interest and concluding the sale proved that auctions can be very effective when used correctly. This is the highest value property to be sold by any East Midlands based auctioneer so far this year.”

Stock levels around Junction 28 are certainly diminishing and there are a few outstanding requirements which remain unfulfilled.  Therefore, if any occupier is struggling or seeking to realise value from their ownership or relieve lease liabilities then we would be delighted to talk to them and increase stock levels and try and satisfy known requirements.