FHP acting on behalf of a local family company have acquired 6/8 Lower Parliament Street, Nottingham for sub £1m.

The Ground Floor is let to Boojum for £100,000 pa for 10 years with the lease currently being assigned to a national retailer.

David Hargreaves who negotiated the acquisition said, “This is a solid location opposite the entrance to the Victoria Centre just off Clumber Street.  The store of 2,350 sq ft of sales offers great value retail accommodation.

In addition the upper parts have planning permission for 5 large 2 bed apartments which our clients will build out and then rent out.

Once the development is complete the investment will show the clients a return of 13%+.”

FHP introduced the opportunity and negotiated the acquisition from clients of GCW in London.  Lisa Poole of Gunner Cooke acted on the legals on the acquisition.

ENDS

David Hargreaves

20th February 2026

The Nottingham office market enters 2026 with an interesting story to tell. Office take-up and availability data compiled by FHP during 2025 points to a market where occupier demand is strengthening, average deal sizes are growing, prime rents are breaking through significant barriers — and yet the supply of the space that occupiers actually want remains critically short. This represents a compelling picture for investors looking to capture growth in a market which is significantly supply constrained.

Total occupier take-up across Nottinghamshire reached 315,000 sq ft in 2025. While that represents a 14% reduction on 2024, the underlying occupier picture is considerably more positive.

City centre take-up reached 173,631 sq ft, running 30% ahead of 2023 and 5% above 2024. Businesses are gravitating towards the city centre, and out-of-town take-up fell 28% as occupiers continue to prioritise accessible, well-connected city centre locations over business park alternatives. This is not a temporary trend — it reflects a fundamental shift in how many businesses are rethinking their office environments as connectivity, accessibility and amenity are of increasing importance.

The average letting size also tells an equally positive story. Across Nottinghamshire, the average now stands at 4,200 sq ft, up 20% on 2024. In the city centre specifically, it has risen to 5,262 sq ft — a 28% increase on 2024 and a 65% increase on 2023. Businesses are returning to offices; and occupancy levels are higher than at any point since the pandemic. The average Grade A letting size now exceeds 9,000 sq ft, with notable transactions including KPMG, WWCT and Calyx collectively taking 23,000 sq ft at RPG’s East West building, Shakespeare Martineau and Knights both committing to new space at Waterfront House and See Tickets leasing 19,400 sq ft at The Hockley Pod. These are significant commitments to new modern Grade A spaces that speak to the commitment that occupiers are now looking to make to their office spaces.

Immediately available Grade A space across the entire city centre stands at just 4,000 sq ft — 0.5% of overall supply across Nottinghamshire. Grade A take-up accounted for 38% of all city centre transactions in 2025 despite the near-total absence of readily available stock, with a number of schemes being pre-let before reaching practical completion or refurbished to occupier requirements. There remains a number of occupiers who are still waiting for the ‘right’ space to emerge.

Prime rents are set to exceed £30 per sq ft in 2026, with Grade A refurbishments being brought forwards in excess of this level. Grade B rents, by contrast, are largely static. The gap between the best and the rest is widening, and that rental differential will continue to grow as the volume of occupiers chasing a tiny pool of quality space increases. The viability for well-presented refurbishments is becoming increasingly justifiable, albeit we await office market yield performance to improve to complete the picture.

To capture that rental growth, investors need to understand what is driving occupier decision-making in the current market. The businesses we work with day-to-day are more discerning than they have ever been — and that is good news for investors who are prepared to deliver the right product, because it means genuine quality commands a significant premium which occupiers are willing to pay for, and faces very little competition.

Specification alone is no longer sufficient to define best-in-class. The occupiers driving demand in this market — professional services firms, financial services businesses, technology companies and the like are looking for buildings that function as destinations with on-site café facilities, business lounges, high-quality collaborative spaces, excellent end-of-journey cycling and fitness facilities, and well-considered outdoor amenity being increasingly central to letting decisions. Businesses are making a statement to their employees and clients through their office environment, and they will pay a meaningful rent premium for a building that helps them make the right one.

Location remains paramount. Buildings with strong transport connectivity — particularly proximity to Nottingham Railway Station — and easy access to the city’s restaurants, retail and amenity are generating the strongest interest and achieving the highest rents. Nottingham city centre, with its improving food and leisure offer and excellent connectivity, is well placed to satisfy these requirements, which is one of the reasons we are seeing such a pronounced shift of occupier demand towards the city core.

The supply outlook for 2026 is more promising – we anticipate over 100,000 sq ft of new Grade A refurbishment projects coming to market through the year, and the Canal and River Trust’s redevelopment of the former Land Registry Building — a 40,000 sq ft scheme due for completion in Q4 2026 — is set to establish a new benchmark for office quality in the city. New speculative development viability remains challenging given construction costs and lack of yield support which means refurbishment of existing stock is currently the only likely route through which new Grade A supply will emerge. That dynamic creates opportunity for investors able to identify the right assets and undertake suitable refurbishment programmes to meet occupier demand.

The buildings that will perform best are those that combine good fundamentals with the right location and a realistic opportunity to deliver the good quality amenity and high-specification environments that occupiers are seeking. Nottingham has an undoubted shortage of such assets — which will undoubtedly continue to cause upward pressure on rents in the medium term before the prospect of new build becomes viable.

ENDS

Mark Tomlinson

February 2026

David Hargreaves of FHP has completed the sale of a residential investment known as “The Farthings” on Faraday Road in Nottingham to L1 Capital, who were advised by Allsop, for just under the asking price of £6,500,000.

The 64 Apartments comprising 56 x 2 bed apartments, 4 x 1 bed apartments and 4 x 3 bed apartments, each with a parking space, were built in 2003 and are located next to the University of Nottingham campus.

The Apartments are leased under 2 leases to Places for People, who have assets of £5.8 billion, expiring in 2037.

Hargreaves confirmed that strong interest had been generated from local and regional property companies as well as Institutions through FHP’s marketing campaign, with “Best Bids” resulting in a price very close to the asking price of £6,500,000 being achieved.

He said “This is a safe and secure long term income play with angles that will show the buyer a day 1 yield of circa 6.50% net.

There are opportunities to drive the rent and yield through refurbishment as well as potential for additional development.”

FHP represented the Vendor and Allsop represented the buyer .

ENDS

David Hargreaves

5^th February 2026

Acting on behalf of Private Clients FHP have completed a Sale of a Residential Investment 4-6 Radcliffe Road in West Bridgford that sits almost adjacent to Trent Bridge Cricket Ground.

The 15 Bedroom property with parking operates in the Air BnB short stay sector was sold at a price of £53,000/bed.

David Hargreaves of FHP said “West Bridgford has to be the perfect location for Short Stay residential accommodation with fans traveling from afar to watch Nottingham Forest at the City Ground that is across the road, the cricket at Trent Bridge that is just 2 minutes’ walk away, and the rugby at Lady Bay just 5 minutes’ walk away.

And, of course, there is the National Watersports Centre at Home Pierrepont Country Park a 5 minutes’ drive away as well as the Bars and Restaurants of Radcliffe Road including the World Famous Trent Bridge Inn and those along Central Avenue including Cote, Wagamama and Rudy’s.”

The Property was subject to a 10 year lease which expires in 2032 at a passing rent is £53,640.

Hargreaves who acted for the Vendor said the sale broke back to a net yield of 6.3%.

Lisa Poole of Gunner Cooke advised the Vendor on the legal aspects whilst Vik Moothia of Landsmiths represented the Buyer

ENDS

David Hargreaves

14 August 2025

The UK office investment market continues to undergo significant changes even nearly five years on from the COVID-19 pandemic.  As occupiers rationalize their spaces to adapt to new working patterns, landlords face a series of challenges that are reshaping the landscape of the office market.  Mark Tomlinson, Director at FHP provides a market update.

Capital Expenditure and Tenant Attraction

One of the primary challenges for landlords is the need for substantial capital expenditure (capex) on older buildings. Upgrading mechanical and electrical (M&E) systems, as well as creating amenities that meet modern standards of an increasingly discerning office occupier base, is essential to attract high-quality tenants. In a market where occupiers are increasingly demanding ‘best in class’ facilities, landlords must invest significantly to remain competitive with increased focus on high quality finishes and the lifestyle which an office can create.

Market Uncertainty and Obsolescence

The uncertainty in the market has been exacerbated [not only by COVID-19 but through the rise in base rate] impacting significantly on yields.  With office occupiers continuing to assess their office strategies even nearly 5 years ‘after the event’. Many older buildings are no longer fit for purpose, either due to outdated design or failure to meet new energy efficiency standards. This obsolescence not only affects rental values but also increases the risk of prolonged marketing voids.

Investment Yields and Market Opportunities

Investment yields in the UK office market have softened considerably, with many office buildings in the East Midlands now selling for yields in excess of 10%. This presents both a challenge and an opportunity. While it indicates a more cautious market, it also opens the door for new investors to reposition assets and achieve strong returns by bringing them up to ‘best in class’ standards, albeit for correct office buildings with strong fundamentals in terms of location, specification and tenant amenity.

Repositioning Assets for Success

The key challenge for landlords is to successfully reposition their assets to meet the evolving demands of occupiers. This involves not only significant capex but also a strategic approach to marketing and tenant engagement. By focusing on sustainability, modern amenities, and flexible solutions on lease structure and fitout arrangements, landlords can attract high-quality tenants and achieve strong rental returns. Creating ‘best in class’ office spaces can attract top-tier tenants who are willing to pay premium rents. For instance, prime office buildings in Nottingham are now achieving rents upwards of £26 per sq ft, while secondary office rents are either stagnant or falling, with lengthy void periods.

Limited Supply of Grade A Properties

The Nottingham office market is currently experiencing a significant imbalance between supply and demand, particularly in the Grade A office segment. One of the most pressing issues in the Nottingham office market is the limited supply of Grade A properties that are immediately available. Currently, less than 5% of the readily available office supply in Nottingham qualifies as Grade A, or in other words high-quality, modern office spaces that meet the latest standards for sustainability and amenities. This scarcity is driving up demand for these premium spaces, as occupiers seek out the best possible environments for their businesses.

Occupiers ‘Sitting on Their Hands’

Underlying occupier demand is there but many occupiers are adopting a cautious approach, choosing to ‘sit on their hands’ and wait rather than commit to available office spaces that do not meet their specific requirements. This wait-and-see strategy is contributing to a stagnation in office take-up, as businesses hold out for the emergence of Grade A properties that align with their needs. This trend is particularly pronounced in Nottingham, where the demand for top-tier office spaces is robust, but the supply is limited.  FHP estimates that over the last two years, 50% of the city centre take up has been for Grade A space despite only 5% making up of overall supply.

There is Rental Growth

Despite these challenges, the current market dynamics present opportunities for new investment. By repositioning existing assets and upgrading them to meet the ‘best in class’ standards, investors can unlock significant value.  There is continued upward pressure on rents moving into 2025 for well-located prime office buildings. The supply and demand mismatch highlights the potential for strong rental returns for those who can successfully reposition assets and take advantage of the supply shortage.

For further information please contact Mark Tomlinson on 07917 576 254 or mark@fhp.co.uk.

Mark Tomlinson, Director

November 2024

On behalf of private clients, FHP Property Consultants are delighted to bring to the market this multi-use income producing commercial investment opportunity in Derby city centre.  The property is located on Nottingham Road just off the A52.  The city centre is a 0.5 mile walk away with the bus station being 10 minutes’ walk and the main railway station 15 minutes’ walk.  The property provides a two-storey terraced building of brick construction and is fitted out as a café on the ground floor with open dining to the front and kitchen/storerooms and basement storage.  Above is first floor open plan office accommodation.  It has the opportunity to be converted into residential.  Externally there is outdoor terracing to the rear of the property, currently used as outdoor dining by the café.

FHP are marketing the property asking for offers in the region of £250,000 showing a gross initial yield of 7.8%.

Corbin Archer of FHP Property Consultants commented:

“This property offers a rare opportunity for an investor to purchase a multi-use income producing investment in the city centre with residential conversion potential.  If you are interested, please contact me on the contact details below.”

For further information on the above, please contact Corbin Archer on 07929 716 330 or corbin.archer@fhp.co.uk.

ENDS

August 2024

FHP have completed the investment sale of the long leasehold PureGym investment in Ipswich.

The store which sits next to McDonald’s and the Ravenswood Shopping Centre was previously occupied by Lidl who relocated to a new and larger store in Ipswich and subsequently let their old store to PureGym.

PureGym acquired the 13,500 sq ft unit on a 15 year lease at £125,000 pa to complement their other Gym in Buttermarket Shopping Centre in the Town Centre.

David Hargreaves said: “Lidl originally acquired a 125 year lease on the store back in 2004 and as such had 105 years remaining.  The lease contained a “Pre-emption Right” in favour of the Landlord and as such Lidl had to offer the opportunity to buy the Investment to the Landlord before they could sell it elsewhere.

Hargreaves said: “I contacted the Landlord’s representative, Chris Bartram of Tramco Cambridge Ltd, and offered them the opportunity to buy the long leasehold interest off Lidl.  Chris was straight forward to deal with and after considering the evidence we both put forward we were able to agree a price of £1,675,000 for Lidl to surrender their 125 year lease leaving the Freeholder as Landlord to PureGym.”

The price reflected an initial yield of 7.00% for the 105 year residual of the original lease.

Chris Bartram said: “Tramco is happy to have added to its investment at this popular neighbourhood centre. PureGym has added to the offer available at the property and increased the pedestrian footfall as well.”

FHP acted for Lidl and Tramco for the Landlord.

ENDS

David Hargreaves

18 April 2024

FHP have completed the sale of 4 income producing industrial units in the centre of Melton Mowbray to Kindale Limited who were represented by Toby Yates of Yates Real Estate Ltd who are based in the West End of London.

The industrial units, totalling 27,024 sq ft and let to a Signage Company, a Drama and Dance group and a Motorcycle Retailer and Repair Shop, were owned by Lidl who had acquired the property for possible expansion of their adjacent store some years ago.

David Hargreaves who acted for Lidl in the marketing and subsequent sale said:

“The 4 units provide 27,000 sq ft of accommodation and currently deliver an income of just £51,000 per annum. Two of the leases have expired with the tenant wanting a new lease and therefore there is scope to grow the income to £100,000+ per annum.

Industrial investments are in great demand and, as expected, we had strong interest resulting in a sale following “Best Bids” to Bedfordshire based Kindale Limited at just over £1 million, showing an initial yield of circa 4.70% and a reversionary yield of circa 9.00%.”

Kindale is a privately owned Property Company that specialise in acquiring hands-on asset management type properties with opportunities to add value, and so this parade of industrial units was ideal.

Toby Yates of Yates Real Estate acted for Kindale with David Hargreaves of FHP acting for the Vendor, Lidl.

ENDS

David Hargreaves

1^st March 2024

FHP acting on behalf of a Private Family Property Company have completed the sale of the Peacocks store at 38-40 High Street, Hucknall, Nottinghamshire.

David Hargreaves said:

“This has been a long and drawn out project following the Administration of Peacocks during Covid.  The new Peacocks Phoenix company wished to retain this store as it was one of the more profitable stores and so we began negotiations with the Administrators and Peacocks to agree terms for a new lease.

Once the new 5 year lease was in place at a rent of £43,000, we brought the investment to the market with an asking price of £450,000.

As a result of the monthly increases in Base Rates throughout 2023 we had to reprice the investment in September resulting in a sale at a price of £420,000.

This is a great buy for the Private Investors giving them a large store of circa 6,000 sq ft with rear parking and a yield of 10.00% for at least a further 4 years.  Longer term there is an option to split the store to create 3 shops and 2 upper floor flats if Peacocks don’t renew the lease in 2028.”

FHP acted for the Vendors, a private family company that had owned the store for 30+ years, the Purchasers represented themselves.

ENDS

David Hargreaves

8 February 2024

FHP acting on behalf of a private family have completed the sale of 38/40 George Street/22a Lower Parliament Street at a price in excess of the quoting price with the help of Russell Thompson of Massers.

The 3,900 sq ft property has been in the family for many years and is occupied by DG Cars and a Nail Bar at Ground floor with 2 floors of offices above, one of which is vacant.  The current Income is £31,900 pa.

David Hargreaves of FHP who handled the instruction confirmed a sales price of £425,000 was achieved against the asking price of £400,000, and that from first inspection to completion took just 14 weeks.

Hargreaves said: “We targeted our marketing at both Investors and Developers alike as the property provided not only a well-established income stream but also had opportunities to add value through the conversion of the upper floors to student accommodation or apartments together with scope to add one or two more floors, subject of course to securing the appropriate planning consents.

The Vendor said: “We are absolutely delighted with the advice from David and his team at FHP, they did everything they said they would, their deep market knowledge and clever marketing generated a lot of interested parties from day 1 and we achieved a price in excess of our aspirations.

Furthermore the sale was completed a lot quicker than expected – really excellent work by both FHP and Massers.”

ENDS

David Hargreaves

7^th June 2023

FHP acting on behalf of a private property company have completed the sale of 6 Angel Row, which sits adjacent to McDonald’s and is fit out as a restaurant trading as Heavenly Desserts.

David Hargreaves of FHP confirmed that the property was sold for £585,000.

He said “The Basement, Ground and First Floors are let at £40,000 pa, with 2 floors of vacant accommodation above suitable, subject to planning, for redevelopment to provide 6 student studio apartments or residential accommodation.

Hargreaves confirmed there had been strong interest due to the location and the development potential with the ultimate buyer a linked party to the current tenant.

FHP Property Consultants advised on the property side of the transaction and Niki Guthrie of Edwards Clegg on the legal side.

ENDS

David Hargreaves

18 April 2023

On behalf of private clients FHP Property Consultants are delighted to bring to market the investment interest of 1 – 2 Sadler Gate Bridge, Derby, DE1 3NL.

The property is well located in the heart of Derby City Centre within the pedestrianised boutique fashion pitch of Sadler Gate.  The street links Bold Lane with Derby’s Market Place and the scenic and historic Cathedral Quarter Business Improvement District.

The property comprises a building of masonry construction which was recently renovated in 2020.  Internally the accommodation provides a ground floor self-contained retail unit let to The Brow Edit producing £12,000 per annum.  Let on a 3-year term from January 2022.  The first and second floor include three self-contained studio flats per floor.  The flats produce £42,900 per annum which increases to £45,720 per annum in July 2023.  They are already fully let for the next academic year up to June 2024.

The property is being sold as an investment and we are inviting offers in the region of £800,000 to show a gross initial yield of 6.86% and a gross reversionary yield of 7.22%.

Corbin Archer of FHP Property Consultants comments:

“This is a rare opportunity to acquire a modern recently renovated student accommodation and retail investment in a city centre location. The current owners have spent a substantial amount of money refurbishing the property from a derelict building to 6 contemporary studio flats and a popular retail unit. The property is incoming producing from day one as it requires no immediate asset management however there is potential to grow income streams in the future. I look forward to hearing from interested parties regarding this property.“

For further information, please contact Corbin Archer on 07307929 716 330 / corbin.archer@fhp.co.uk .

ENDS

Corbin Archer

March 2023

David Hargreaves of FHP acting on behalf of local investor clients has acquired the Travelodge Hotel on Pride Park in Derby.

The hotel, which comprises 84 bedrooms with 87 parking spaces with a passing rent of £307,750 pa, is leased to Travelodge Hotels Ltd with a further 21 years left to run on the lease.

The price paid was £4,825,000 equating to a yield of 6.00% or £57,440 per room before costs.

Hargreaves said: “This hotel, close to the Derby County football stadium and the nearby Events Arena, is a well-known national brand which trades well off affordable room rates.

The investment offered our client a secure long term income stream of 21 years, with the Landlords having the right to ask Travelodge to take a further lease for 8 years when the current lease expires in 2044.

Furthermore the rent, which equates to £3,655/bedroom, is index-linked to the Retail Price Index without a cap which should guarantee good rental and capital growth over the coming years.”

Knight Frank acted for the Vendor, whilst Russell Thompson of Massers Solicitors provide the legal advice to complement the FHP property advice.

ENDS

David Hargreaves

17^th January 2023

Acting on behalf of private clients, FHP have secured the sale of The Ropewalk Industrial Estate in Ilkeston, Derbyshire, a multi-let industrial estate comprising 40 individually let warehouse and workshop units within this established industrial location. The property provides a mixture of units ideal for fledgling and growth business in the area which have proven popular over the years with consistently high occupancy rates.

The property was sold following a highly competitive process with local, regional and national investors bidding competitively for the property.

Mark Tomlinson, Director at FHP, commented:

“We are delighted to have secured the sale of The Ropewalk Industrial Estate which we have managed on behalf of our clients for nearly ten years.  The property was almost fully let at the time of sale and offers the new owners the ability to improve the rental income profile through asset management and an ongoing programme of refurbishments which will provide value improvement and a strong investment return.”

FHP are delighted to bring to market this Grade II listed building positioned on Market Place.  Southwell is a popular market town and is anchored by their Southwell Minster and a plethora of nearby amenities. The property benefits from good access and is a short walk to a mixture of retail and leisure shops and restaurants.

The property comprises 1,061 sq ft of office accommodation across three floors with a generous yard space to the rear of the property.  The building is available with vacant possession and at an asking price of £240,000 or by way of lease at £17,000 per annum.

Amy Howard of FHP Property Consultants commented:

‘It is great to bring this rare opportunity to the market and have an FHP presence in the market town of Southwell.  I am excited to work on this sale and I imagine that we will receive high interest.  The property is the perfect fit for an owner occupier and also provides an excellent opportunity for residential redevelopment (STP).”

If you are interested in the property, please feel free to contact me on 07887 787 894, alternatively you can email me at amy.howard@fhp.co.uk.

FHP working in conjunction with sister company FHP Living have completed the sale of a Portfolio of 14 Apartments at Bridgford Point on Radcliffe Road in West Bridgford.

David Hargreaves who handled the sale on behalf of a Sheffield based private investment company that had owned the portfolio for 20 years said:

“The fourteen 2 bed apartments which sit above a parade of shops in the heart of West Bridgford close to Trent Bridge Cricket Ground, were fully let but at rents below market level.  The apartments are all larger than the norm and ranged in size from 750 sq ft to 920 sq ft with each apartment also benefitting from an on-site car parking space which again is quite unusual.”

The Buyer – a local family property company benefitted, from a 10% discount to open market value to reflect the “bulk sale” and intend to redecorate and upgrade the spacious apartments as and when they become vacant for reletting and sale.

Top prices for 2 bed apartments in West Bridgford have been secured in The Waterside Apartments and at Trent Bridge Quays which have been sold by FHP Living achieving £250,000+, reflecting their location by the River Trent, and so this acquisition provides scope to add value to the properties through a proactive asset management plan.

FHP and FHP Living are due to bring a similar portfolio to the market but this time on the edge of the City Centre as well as a £10m Student Portfolio.

ENDS

David Hargreaves

Date: 21 July 2022

Acting on behalf of the sellers, FHP have concluded the off-market sale of the Balloon Wood Industrial Estate in Nottingham to Medina Green, a regionally based property investment company. The industrial estate comprises some 40,372 sq ft of industrial units on 4.4 acres and is currently multi let to a mixture of tenants.

The property has been sold at well in excess of the guide price after a competitive process carried out by the selling agents.

A representative at the purchasers of Medina Green commented:

“We wish to thank Mark and his team at FHP for their professionalism in the manner they handled this sale. With a limited window to complete the purchase we were able to do so by being well supported by our legal team at Cleggs Solicitors. Balloon Wood Industrial Estate is an attractive investment for us as it offers both development and asset management opportunity. The location is also ideal for our tenants as it has easy access to the motorway and arterial routes and the units are also well sized to suit the marketplace.”

Mark Tomlinson, Director at FHP, who acted on behalf of the sellers commented:

“The property offers a good scope for rental growth through refurbishment and asset management of the property given the strength of the industrial sector and the lack of supply of units of this nature available to occupiers.  The new owners intend to undertake improvements to the estate over the coming months to further cater for occupational demand.”

Philip Westin-Hardy at New West acted as joint agents on the deal.

ENDS

Acting on behalf of private clients FHP Property Consultants are pleased to announce the completion of the sale of the above residential investment property situated in Derby.

Carlton House, which is situated on London Road, Derby comprises a Grade II Listed four storey building.  The property comprises six 1 bedroom flats, eight 2 bedroom flats and benefits from a private car park to the rear.

When fully let, the building produces an income in the region of £80,000 per annum.  The quoting sale price was £1 million and a deal was agreed at that level reflecting a Net Initial Yield of 7.59%.

Darran Severn of FHP Property Consultants comments:

“I am delighted to have completed this sale which has been a great result for all involved.  Given the nature and location of the property I was not surprised at the strong interest we received for the building.  This enabled us to strike a deal within a matter of weeks.  There is great demand for freehold properties, both occupied and vacant, particularly lot sizes under £1 million from local investors.” 

Daniel Holder the purchaser comments:

I am thrilled to take ownership of Carlton House, a few bumps in the road along the way but with the help of FHP and the managing agents Phoenix Lettings Derby we managed to complete the purchase.”

For further information on the sale please contact Darran Severn on 07917 460031 / darran@fhp.co.uk.

Phil Daniels acting on behalf of ALB Group is pleased to confirm the purchase of an 80,000ft² shopping precinct in New Street, Huddersfield from clients of Columbia Threadneedle Fund Management.

Phil Daniels commented:

“This is a further acquisition by the ALB Group with a view to kickstarting revival of the high street. 

The 80,000ft² property on New Street already houses well known business including Primark, Home Bargains, One Below and Ladbrokes and ALB Group are already in discussions with new tenants for the vacant premises.” 

Arran Bailey, Managing Director of ALB Group commented:

“ALB are seeking to breathe new life into town and city centres by offering more affordable and flexible lease contracts particularly to encourage independent and local entrepreneurs to trade alongside larger high street chains.” 

Phil Daniels continues to seek further opportunities and would welcome any enquiries with regards assets of a similar nature that may be purchased.

On behalf of private clients, FHP Property Consultants are delighted to confirm the sale of Booths Industrial Estate, Ilkeston to Derbyshire based developer PMW Property.  Booths Industrial Estate comprises approximately 35,000ft² of industrial accommodation set on a 4.5 acre site.  The existing units are fully let with the remainder of the site available as hard standing land.

Darran Severn of FHP Property Consultants comments:

“We were instructed to dispose of this opportunity off market and I am pleased to say we agreed a sale within a matter of days.  Booths Industrial Estate is income producing with the potential to substantially increase the rent roll by leasing the vacant hard standing sites.   That combined with the possibility of future development made this an appealing site.

These types of add value assets are extremely sought after at present and we are speaking with a number of local, regional and national investors on a daily basis who are seeking these opportunities.”

Matthew Wrigley of PMW Property comments:

‘We are excited to now have completed on this new multi-let investment site in the heart of Ilkeston.  There are a number of tenants that all specialise in different sectors and we are looking forward to meeting them all and getting to know them and their businesses.  The parcel of land that sits empty on the site currently we are hoping to rent as a hard standing yard as these seem to be coming harder and harder for people to find at the moment.”

If you are looking for hard standing storage land available to rent then please get in touch.  There are several sites available up to a maximum of 2.4 acres.

For further information, please contact Darran Severn on 07917 460 031 or darran@fhp.co.uk.

ENDS

Darran Severn

February 2022

FHP Property Consultants have agreed the investment sale of 7A-12 Albion Street, which is let to TK Maxx and situated in Derby City Centre.

The property is well positioned on Albion Street close to the entrance of the Derbion Shopping Centre and comprises three retail units that have now been combined to create 34,464 ft² of retail accommodation over three floors.

TK Maxx have occupied the property since 2017 by way of a lease expiring in 2032.

The sale has been agreed to private investors just under the quoting price of £2.25m which represented a net initial yield of 8.56%.

Darran Severn of FHP Property Consultants commented:

“I am pleased to have been involved in this sale and this has truly been a great result for all parties.  The property has been sold to overseas investors who own several other assets that are let to TK Maxx.  Albion Street has suffered in recent years but many of the shops on this street have changed ownership within the last 12 months and I believe this area will only get better.

There is good interest at present for investment opportunities where yields are anywhere between 8% and 10% and as a result I have three further sales under offer totalling in excess of £3 million.  I hope to release details of these in the coming months”.

For further information, please contact Darran Severn on 07917 460 031 or Darran@fhp.co.uk.

ENDS

Darran Severn

January 2022

Acting on behalf of Clowes Developments (UK) Ltd, FHP Property Consultants have completed the investment sale of Unit A Crown Park, Parcel Terrace, Derby.  The unit was built earlier in 2020 and let later that year on a new 15 year lease to Derbyshire Performance.

Darran Severn of FHP Property Consultants comments:

“Crown Park comprises six new build industrial/warehouse units ranging in size from 2,583ft² to 7,750ft², all of which are finished to a high specification and are tenanted.  Unit A is somewhat the jewel of the estate benefitting from a good sized self-contained yard to the front and rear of the property.  The sale was secured at a price of £510,000 which represented a net initial yield of 6.24% after purchase costs.

If you are in the market for something similar, we have units B3, B4 and B5 available to purchase.  These units are let to one occupier and total 17,994ft².  Please get in touch for further information.”

Should you require any further information on this sale then please contact Darran Severn of FHP Property Consultants on 01332 343 222 or email darran@fhp.co.uk.

ENDS

Darran Severn

December 2021

FHP Property Consultants are pleased to offer to market an excellent office investment situated on Pride Park, Derby.  Following the recent letting of the ground floor, 1 Pride Point Drive is now fully let and comprises two tenants producing an annual income of £75,750.

The property comprises a two storey self-contained detached office building set within a well maintained shared site with 21 parking spaces.  The accommodation totals 557m² (5,995ft²).  Part of the ground floor has recently been let to ICP Nurseries on a 5 year lease.  The remainder of the building is occupied by Exponent International who have a lease expiring in 2026.

The investment is on the market at a quoting price of £900,000 reflecting a net initial yield of 8.0% after the usual purchasers’ costs.

Darran Severn of FHP Property Consultants, comments:

“I am pleased to offer this opportunity to market.  We have successfully renewed the lease with Exponent International and have also secured a letting to ICP Nurseries, creating this opportunity.  Pride Park is Derby’s premier office location and at 8% this is also underpinned by vacant possession values of circa £150 – £160 per sq ft.

I look forward to speaking with interested parties.”

For further information or to arrange a viewing, please contact Darran Severn on 07914 460 031 / darran@fhp.co.uk.

ENDS

Darran Severn

November 2021

FHP has completed the investment purchase of an award-winning mixed use development in Birmingham, on behalf of Ayburn Property Company Ltd.

The leading property consultancy has secured The School Yard, a Grade II listed former Victorian school with private courtyard alfresco dining, sited on the southern side of Harborne High Street, at the junction with York Street.

The premises, which extends to 8,886 sq ft, is let to established occupiers including independent cafe group, Boston Tea Party, speakeasy cocktail bar, Drunken Tiger and Harborne Food School.

FHP Director, Head of Birmingham Office, Doug Tweedie said: “We’re very pleased to have completed this acquisition on behalf of Ayburn Property Company Ltd. The School Yard is an exciting multi-let leisure investment with a high calibre of well established occupiers. The building benefits from an extensive frontage on the busy High Street, and is an important part of Harborne’s strong retail and leisure offer. At the time the purchase was secured, a new letting to Holy Moli Macaroni was also completed, who will take possession of the former Prezzo restaurant and establish itself within Harborne’s vibrant leisure scene very soon. We can’t wait to see it open!”.

The vendor/seller was represented by Ben Simpson of CWM.

For further information please contact Doug Tweedie on 07887 787892 or email doug@fhp.co.uk

FHP Property Consultants have agreed the investment sales on behalf of private clients of two blocks of prime retail assets in the heart of Nottingham city centre.

48-58 Bridlesmith Gate comprises of 4 retail units plus first floor hair salon and vacant office accommodation.  The retail units are occupied by 18 Montrose, Fred Perry and Sneakrverse.  The asset comprises of approximately 14,800ft² over basement, ground, first and second floor.

There was considerable interest and offers received, with a sale agreed to clients of the ALB Group, in excess of the quoting price of £1.95 million which represented a net initial yield of 12.77%.

The sale of 2-8 Byard Lane and 37-45 Bridlesmith Gate has been concluded to the ALB Group.  The investment comprises of approximately 15,000ft² arranged over basement, ground, first, second and third floors.  The property is occupied by Café Coco Tang, Coco Tang, Brik Barbers and The Tailor.  The property generated a significant level of interest driven by interest in repurposing the upper floors and rebasing the retail rents.  There were multiple offers received and an eventual sale being agreed to the ALB Group at £1.95 million.

Alan Pearson, Director of FHP commented:-

“These two properties are prime retail assets in the heart of Nottingham City Centre, with the potential for repurposing the upper floors for alternative student accommodation or residential use subject to securing the necessary planning consents.  There was significant interest in both assets with multiple offers received.  I am delighted to have secured the sale to the ALB Group, an established investor in Nottingham city centre with a proven track record of repurposing upper floor accommodation throughout the region and will deliver lettings on the ground floor retail units, whilst not being constrained by historic asset values of the previous custodians.”

Arran Bailey, Managing Director of ALB Group commented:-

“I am delighted to have been able to purchase these two blocks as we want to make this area cool again – bring a vibrancy back that Nottingham was once known for.  We want to see this part of Nottingham get a buzz like we’ve seen in areas like Hockley.

With the neighbouring Broadmarsh regeneration core to this end of the city centre, we want to also encourage independent retailers, restaurants, bars and coffee shops to get on board and embrace our vision for a reawakened café culture and thriving retail district.”

If you would like any further information about these disposals or would like to discuss investment opportunities, please contact Alan Pearson on 07876 396005 or email alan@fhp.co.uk.

The repurposing of older buildings has become an important part to the future of the High Street.  As a result, we are pleased to bring to the market the upper floors of these former retail stores on the corner of Albion Street, Derby.

The property is arranged over the first and second floors, and benefits from a self-contained entrance at street level. The current owners are submitting a planning application for 8 apartments, with plans available upon request. The property is available on a long leasehold basis at a guide price of £300,000.

Dan Mooney of FHP Property Consultants commented:

“This is a fantastic development opportunity which is coming to market.  City centre living is becoming increasingly popular and this property is in an ideal central location.  In addition, the property benefits from a continual footfall given its busy spot, with the Derbion Shopping Centre one side and the Riverlights Bus Station on the other side. The property could suit local investors, but all interested parties are welcome to make enquires.  If you are interested, please do not hesitate to get in touch.”

For further information or to arrange a viewing, please contact Dan Mooney (07929 716 330/ dan.mooney@fhp.co.uk) or Darran Severn (07917 460 031/darran@fhp.co.uk).

ENDS

Dan Mooney

28 July 2021

David Hargreaves of FHP working jointly with Duncan McClaren of McClaren & Partners, has seen the sale of the Beechdale Retail Park on the old Beechdale Baths site in Nottingham complete to a syndicated Investment Fund on behalf of Scott Davidson’s HDD Limited.

Hargreaves said:  “The retail scheme is next to the new Lidl and comprises a parade of 6 shops and a Drive Thru Costa Coffee.

The 6 shops of 1,250 sq ft are let to the likes of Greggs, Subway, Mother Hubbard’s, Treetops and Tanning Shop at rents of £26,000 -£30,000 per annum with Costa paying £74,500 per annum.

HDD and their contractors did a great job building this out through the first and second lock down and the tenants stayed with us, when many would have walked away.”

Hargreaves went on to say:  “We originally had the Investment “Forward Funded” in February 2020 at circa 6.30% but the buyer withdrew in June due to the uncertainty caused by the Pandemic.

When we brought the Investment back to the market in the Autumn, we had good interest, despite it being “retail” which is not exactly flavour of the month at the moment with investors, and were able to secure a price of £3,250,000 giving a net initial yield of 6.87% net.

This strong price really reflects the strength of the tenant line up, Lidl as the next door anchor and the strength of the location.”

Hargreaves finished by saying:  “FHP bought the site for Lidl originally, sold off the surplus land for them to HDD Limited, let all the shops for HDD Limited and jointly with Duncan McClaren have now completed the Investment sale, all in a 2 year period.”

End

17 June 2021

It’s been a busy start to 2021 for the investment team here at FHP. We are seeing continued investment appetite across all sectors in the Midlands along with good occupational demand which is also now starting to come forwards in the office sector after a quiet 12 months.

Yields continue to harden in the industrial and logistics sector with demand across all size ranges and qualities particularly driven by the continued demand in the e-commerce sector, this strong occupier sentiment and the expectation of continued rental growth is providing investor confidence.

There remains uncertainty in the retail and office markets but we are still seeing interest in assets in these sectors but with increased risk being priced in to quoting figures, with more focus on Tenant performance and the property and location fundamentals.

FHP Property Consultants acted on behalf of Catalyst Capital in the sale of the former Audley Centre, a high yielding 42,000 sq ft multi-let retail parade, generating a passing rent of £476,205 per annum.

The property provides opportunities to asset manage and reduce voids, increase income, and there are also angles for development and breakup.  The property is situated on St Peters Street and East Street, Derby’s “High Street” and comprises a mix of national and regional tenants including Lloyds, Poundland, Three and Betfred.

Darran Severn of FHP Property Consultants, commented:

“I am pleased to confirm the sale completed earlier this month.  I believe there is a significant asset management angle to increase the rental income and reduce voids.  This is a substantial block of property in a key area of the City Centre.  There are currently a number of serious buyers in the market who are looking to pick up these management intensive assets, and it is great to see activity within this sector at a time where retail is facing changes and High Streets are adapting.  The quoting sale price was £2,500,000 and a deal was agreed close to that figure.

The purchaser owns a portfolio of similar assets across the Midlands.  Their approach is to attract local retailers by reducing rents and providing “white box” units immediately available for occupation.  I am delighted to confirm that FHP Property Consultants have been retained to launch the vacant units in the New Year.  If you would like to discuss any of the available units then please get in touch.”

GCW acted as joint agents alongside FHP Property Consultants on the sale.

For further information, please contact Darran Severn on 07917 460 031 or darran@fhp.co.uk.

Darran Severn
Date: 22^nd December 2020