Halsbury Travel have recently acquired new premises at Churchill Business Park in the Colwick area of Nottingham expanding further from their existing facility already on the site.  Halsbury Travel, established in 1986 is a school tour operator who have 25 years’ experience arrange school trips to Europe and worldwide.  They have purchased Unit 9 Churchill Park to service their expansion plans for the years ahead following positive growth and positive expectations for their growth potential going forwards.

Mark Tomlinson of FHP Property Consultants commented:-

“Such as the lack of office properties to buy around Nottinghamshire at this time we are finding that we are seeing shorter and shorter marketing periods for this type of business park office.  FHP have now concluded four deals on Churchill Park in the last 18 months and hope to bring further units on to the market on a freehold basis to service this underlying demand for locum companies to purchase their own premises

Since The Lace Market has been dubbed a key part of Nottingham’s Creative Quarter, recently named one of Britain’s Business Environments, various initiatives have been put in place to help stimulate growth. FHP Property Consultants has seen some very positive developments within the area for Landlords and Tenants alike.

Mark Tomlinson, Associate Director at FHP Property Consultants explains:-

“Some years ago there was a distinct mismatch between what occupiers wanted for their office buildings in The Lace Market and the accommodation that was being provided by Landlords. As such, various schemes have undergone substantial refurbishment programs to harness the needs of the Creative Quarter occupiers, including sought-after redevelopments by Spenbeck on Broadway and St Marys Gate in the very heart of The Lace Market.  The option of bespoke fit-outs to prospective tenants has created loft-style creative accommodation designed to the specific needs of each company in a high-quality, modern working environment. These Grade II listed former mill buildings predominantly provide open plan accommodation, retaining many original period features such as the large full height windows and the cast iron stanchions, as well as incorporating previously redundant heating and sprinkler systems into the design of the space.”

Celebrating 35 years of delivering versatile creative space in 2016, Landlords Spenbeck has worked closely with its tenants to accommodate their plans for growth and has recently agreed further creative space expansions with both Insurance Initiatives, who has taken an additional 1,700ft² on site alongside their existing 5,000 ft² within the premises, and Distinction, who has taken further accommodation thanks to Spenbeck’s proactive approach to make it happen for both tenants.

Of the 22,000ft² of creative and office space provided within the Broadway Scheme, only 3 suites totaling some 5,000ft² remain which are available to accommodate either new tenants or the further expansion of the growing successful businesses located in the Spenbeck creative space.

Victoria Green of Landlord Spenbeck comments:

“Having worked hard to keep up with demand for our first phase refurbishment we are delighted that our current tenants have been so keen to stay with us.  With work starting soon on shower facilities and break out space, our second refurbishment phase is enabling us to further enhance the tenant facilities we offer and ensure that a Spenbeck creative space adds real value to its customers”

Demand for creative space in the Lace Market shows little sign of abating.  It is up to landlords to provide the correct accommodation to suit these occupiers and protect their investments going forwards.

For more information please contact Mark Tomlinson on mark@fhp.co.uk or 0115 841 1134

It may not be The Pentagon in Virginia, but just as well known locally in Derby, Pentagon House is a landmark office building originally built as a headquarters for Williams Holdings, complete with viewing balconies and chauffeurs garage. The building was substantially refurbished around four years ago and offers first class accommodation with super-fast broadband and generous parking.

FHP Property Consultants have now concluded a letting of ground and first floor suites totalling 12,000ft² by way of a sub-lease to Signalling Solutions Limited (SSL) – who are relocating within the city.  Tim Richardson from FHP comments: “SSL were looking for modern space within Derby and identified the premises as being potentially suitable for their needs. The accommodation provides modern air conditioned space with super-fast broadband and an excellent parking provision. All parties worked together to achieve completion of the sub-lease within a tight timescale.”

Billy Unadkat, FD for Signalling Solutions Limited, adds: “We were looking to relocate to a more modern and pleasant working environment and the extensive fit out previously undertaken by both the landlords and Balfour Beatty made the property particularly appealing.”

Signalling Solutions Limited, an ALSTOM company, are the market leader in offering train controlled solutions to meet customer requirements for design, installation, testing, commissioning and product support for signaling, power and telecommunications applications in the UK.

For further information contact Tim Richardson at FHP Property Consultants on 01332 343 222.

End.

October 2015

Incredible Kids Day Nurseries new base will shortly be opening on Ivanhoe Business Park, Ashby-de-la-Zouch a scheme owned and developed by Clowes Developments where agents Tim Gilbertson of FHP and Phil Randle of Salloway continue to see deals completed for office, warehouse, industrial and day nursery use.

James Richards of Clowes Developments commented:

“It is great to be able to confirm that Incredible Kids will be opening one of their superb nurseries on Ivanhoe Business Park at Ashby-de-la-Zouch.  Not only will this serve the local community, but it will also be a terrific asset for the business park itself, offering top quality childcare which we have no doubt many of the business owners and employees on the site will take advantage of, safe in the knowledge that their children are benefitting from the highest standard of care whilst also being incredibly convenient for childcare provision during working hours.

Ivanhoe Business Park continues to boom and our agents expect to announce further deals within the next few days, with seven other transactions currently agreed.  It is certainly an exciting time for Ivanhoe Business Park and the addition of Incredible Kids to the site provides a terrific amenity and most importantly provides a great location for childcare from this successful day nursery.”

With 12 acres of land left for development, there is still plenty of time for any office, distribution or industrial company to relocate to the Business Park and take advantage of this superb destination.

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

It has been confirmed that NOW:Pensions are relocating in Nottingham in November following an extensive UK wide search for a new location – a move which could bring up to 250 new jobs into the City.

NOW have taken approximately 19,500ft² over three floors in FP Life’s recently refurbished building at 37 Park Ro9w in the heart of Nottingham’s Professional Quarter.

The letting has been confirmed within one month of the refurbishment work being completed.

Simon McIntosh of BMO Real Estate, Asset Managers on behalf of FP Life, confirmed:-

“Our Clients have the confidence to undertake the speculative refurbishment of 37 Park Row to create quality office space that is unprecedented within the Nottingham market. Having made this substantial investment our Clients are delighted to have secured the 20,000ft² letting to NOW:Pensions and are really pleased to welcome them to the City and to 37 Park Row, Nottingham”.

The last floor of 6,460ft² is now being marketed by FHP’s office team. Full information available from John Proctor.

18^th September 2015

For further information contact John Proctor at FHP on 0115 950 7577

Ikano Financial Services have snapped up the former offices of East Midlands Trains within Waterfront House within weeks of the space coming back to the market.

Ikano made Waterfront their Nottingham HQ in 2011 when they moved from Radford.

Ikano now occupy two and a half floors in the nine storey 74,000ft² office building, taking space on a lease coterminous with their existing leases expiring in 2021.

John Proctor at FHP acted on behalf of the Landlords and confirmed:-

“Ikano moved quickly when they became aware that East Midlands Trains would not be renewing their lease within Waterfront. This letting takes occupation at Waterfront House back up to 100% with the entire 74,000ft² occupied by a good mix of professional and blue chip companies, including Shoosmiths, Shakespeares, BWB Consulting, Brewin Dolphin and Coca Cola”.

ENDS

18^th September 2015

For further information contact John Proctor at FHP on 0115 950 7577

Following a comprehensive search for new premises, Frontline Recruitment have taken first floor offices at 3 The Strand Arcade in Derby.  The premise are situated within the Cathedral Quarter and provide characterful office space within a unique environment.  The Strand Arcade was constructed in the 1880s and provides a covered shopping arcade linking The Strand to Sadler Gate providing a very pleasant working environment with City Centre amenities on tap.

FHP Property Consultants acted on behalf of the landlords Clowes Developments in marketing the premises and negotiating terms.  Tim Richardson from FHP comments:

“Having placed the property on the market we attracted a good level of early interest which confirms that high quality City Centre office suites remain popular and it is possible for Victorian buildings to provide a working environment suitable for modern needs if they are upgraded to the right specification. Indeed the property was placed under offer within a matter of days of going on to the market.”

Frontline Recruitment have been established in Derby for fourteen years, supplying recruitment services to commerce and industry with local knowledge and national coverage.  Tony Wilmot from Frontline comments:

“We needed to identify new premises in an accessible City Centre location and 3 The Strand Arcade provided the right size and type of space that we required.  We are delighted to base the business in Derby City Centre and look forward to continued growth.”

For further information please contact Tim Richardson on 01332 343 222.

Ends.

FHP are pleased to announce the letting of the two final remaining suites at 36 Regent Street, Nottingham to Granite House Management Ltd on behalf of long term clients.

The offices enable the company to expand into the UK from their already established base in Boston, Massachusetts.

The building is located in Nottingham’s highly regarded Professional Quarter and provides an attractive period office and medical building arranged over four floors.

Thomas Szymkiw commented:

“I am pleased that Granite House Management Ltd now have the offices that were required to expand into the UK and wish them success in the future. This deal is also particularly pleasing as all suites in the building are now let, both a great result for our clients and testament to FHP’s dedication and hard work!”

For further information please contact Thomas Szymkiw on 0115 950 7577 or thomas@fhp.co.uk.

As a result of the forthcoming relocation of the existing tenants of the ground floor of Phoenix House, Tim Gilbertson of FHP is pleased to offer superb accommodation on a new lease at this prime office.

Set just of Southwell Road, with quick access to the Mansfield & Ashfield Regeneration Route and indeed the centre of Mansfield itself, the ground floor space is to be refurbished shortly and will comprise two wings of open plan accommodation.

Benefitting from a stunning entrance atrium shared with the occupier of the first floor, the building benefits from on-site car parking and will be presented in immaculate order throughout.

To discuss or arrange a viewing please contact Tim Gilbertson of FHP on 0115 9507577 or joint agent Scott Osborne of Innes England.

FHP have secured a swift letting of a third floor office suite within 4-6 Broadway, Nottingham, to new tenants, Kind, part of the Future Friendly group, on behalf of Landlords, Spenbeck Limited.

The premises fulfilled Kind’s requirements to expand, comprising 1,133 sq ft of high specification offices within Nottingham’s Lace Market. The new tenants have signed a five year lease, after the offices were only recently vacated.

The building sits within the Creative Quarter, offering the prospective tenants the location to suit their business, enabling them to reside amongst other like-minded occupiers in the creative industry.

Suite sizes offered by this type of property have increased in popularity with the rise of the digital economy, according to research from DTZ, which is a style typical of the premises and businesses that reside within Nottingham’s Creative Quarter.

Mat Hayward, Kind Operations Director, comments on the new occupancy:

“We’re delighted with our new office. The bright, open plan space is perfect for us as a strategic digital agency and with plenty of room to expand into it’s also great for our growing business.

This is the first premises we’ve leased as a business and we found Lucinda to be friendly, patient and very professional throughout a process that was very new to us.

We’d highly recommend FHP to anyone in future and will definitely make them our first port of call should we need any more space to expand into.”

Lucinda Hancock, FHP surveyor, comments:

“We knew that this office building offered both the location and ideal suite size to suit Kind’s requirements, enabling us to provide the Kind team with a smooth process in acquiring new premises, and allowing us to conduct a swift letting on behalf of the landlords.

FHP continue to offer great opportunities within the Lace Market and around Nottingham.”

For more information on other available opportunities, please contact Lucinda Hancock at FHP on 0115 841 4794.

We’re delighted with our new office. The bright, open plan space is perfect for us as a strategic digital agency and with plenty of room to expand into it’s also great for our growing business.  We’d highly recommend FHP to anyone in future and will definitely make them our first port of call should we need any more space to expand into.

Developers of Ivanhoe Business Park at Ashby-de-la-Zouch, Clowes Developments, plus agents Tim Gilbertson of FHP and Phil Randle of Salloway are delighted to confirm that the next occupier on site will be Woodwards Vets.  A ‘household name’ in Ashby-de-la-Zouch and surrounding areas, Woodwards have take the decision to relocate to purpose built modern facilities to continue their longstanding tradition of fantastic service to their customers and most importantly their animals and the bespoke facility to be constructed at Ivanhoe Business Park will enable them to offer cutting edge care.

Tim Gilbertson of FHP brokered the deal with Matthew Liggins of Musson Liggins who acted on behalf of Woodwards Vets and commented:

“This is great news for Ivanhoe Business Park and brings another hugely well regarded name to the site to complement our various office, industrial and distribution occupiers plus latest new arrivals, Fisher German Surveyors whose new state of the art office will open at the end of the year.

Woodward Vets have been a pleasure to deal with throughout our negotiations and we have no doubt that this new bespoke facility will be a welcome addition to our client’s business park but will also more importantly provide a fantastic base for Woodwards to continue their longstanding service to the owners of animals in Ashby-de-la-Zouch and the surrounding regions.”

David Woodward of Woodward Veterinary Practice Ltd and Matthew Liggins of Musson Liggins Chartered Surveyors who represented Woodward Veterinary Practice throughout the transaction are very pleased to be able to make this announcement about our new surgery:

“It has been our ambition for many years to move the practice to purpose built premises, with the need, firmly in mind, for much better facilities for our patients, clients and staff coupled with improved access and parking, whilst still retaining our independent status.

Working closely and positively with Clowes Developments for more than two years, we have been able to start from scratch and design a purpose built building both to achieve this ambition and, as the principal veterinary practice in Ashby, to cope with present and future demand for veterinary services in and around the town.” 

Ivanhoe Business Park is flying, with buildings being constructed on site and seven further deals currently in solicitor’s hands and it is anticipated that further new occupiers will be announced within the coming days.

However, with 12 acres of land left to develop to meet any industrial, distribution or office occupier’s requirements there is still time to take advantage of this fantastic site and location.

For further information please contact Tim Gilbertson at FHP on 0115 9507577 or Phil Randle at Salloway on 01283 500030.

Whilst there has been an impressive take up across the Nottinghamshire market for office buildings, demand appears to have outstripped supply, with Grade A buildings being reduced to few and far between and a complete lack of new development to compensate. As a result is it Mansfield’s time to step in as the competing alternative? Certainly quality buildings are here, with Mansfield offering a host of Grade A buildings at competitive pricing levels.

Due to extensive development prior to the recession, Mansfield stands alone in its ability to boast many great grade A office sites, yet with a lacking demand over previous years, it is quite possibly the time to secure the facilities before the market catches on. Whilst being relatively forgotten in terms of office take up, it seems wholly unjustified; with close links to the M1 which take you within reach of business epicentres such as Derby and Nottingham, Mansfield is situated well for new office developments.

On a purely cost basis, the facts speak for themselves. Comparatively, Mansfield offers the same Grade A facilities at two thirds of the price of its competitor; an equivalent space in Nottingham, J26, would cost £13 per sq ft, whilst Mansfield can provide the same at an average of £8, a significant change from moving just two junctions along on the M1 corridor.

The business environment in the area is also developing. Mansfield has roughly 40% of its population working within C1 graded jobs and above, from the supervisory junior managerial levels, to higher managerial professional jobs, which brings it firmly into the picture for any companies looking to find a fresh place to settle.

There remains office availability at various high-spec developments including Sherwood Oaks Business Park and the i2 Centre on Oakham Business Park, with Grade A office suites ranging from 1,557 to over 8,000 sq ft. They also sit within a secure, landscaped environment and offer on-site car parking at levels which almost embarrass provision offered on business parks around Nottingham City.

With Mansfield offering more Grade A office spaces at lower rates than Nottingham, and with the handy location in-between J28 and J29 of the M1 providing links to other viable cities and potential for accessibility, the office spaces are a prime opportunity waiting to grasped.

For further information on office opportunities in Mansfield contact Mark Tomlinson at FHP on 0115 841 1134 or mark@fhp.co.uk

BMO Global Investors on behalf of their Clients, FP Life, have recently completed an exceptional refurbishment of 37 Park Row in Central Nottingham to provide a genuine Grade A standard office building.

Attention to detail within the reception and common areas is complemented by LED lighting within the refurbished open plan offices, refurbished WCs and showers and appropriate provision of guest / visitor facilities.

The space has just been unveiled and launched to the market and already detailed discussions are ongoing from a number of parties.

Further information is available by contacting John Proctor at FHP who commented:-

“We have been striving for some time to achieve the level of quality that one sees in virtually every office building in the major regional centres. This is the level of quality that substantial occupiers and regional occupiers now demand.

I appreciate that the recession has held back investment in properties but now we are seeing a return of demand in the office sector and an increase in rental and capital values – now is the time to invest”.

29^th July 2015

For further information contact John Proctor at FHP on 0115 950 7577

Ben Bailey Homes have moved into their stunning newly refurbished 10,000ft² offices at Phoenix Office Park, Junction 26.

The 2004 built building has been transformed by both the Landlord’s refurbishment undertaken by owners, Mutley Properties, and the polished fit out by Ben Bailey.

This is great news for Nottingham. Junction 26 as an office location has seen difficult times in recent years and this is a significant letting bringing life into one of Nottingham’s main office parks.

30^th July 2015

For further information contact John Proctor at FHP on 0115 950 7577

FHP Property Consultants are delighted to have been instructed to market a new build development at Junction 28 of the M1 Motorway, South Normanton, Derbyshire.  The property comprises the final stage of The Village Office Development on Maisies Way, which comprises a very successful scheme constructed over the last few years.

Tim Richardson from FHP’s Property Consultants who are marketing the premises from both their Derby and Nottingham offices comments:

“This is an excellent opportunity to have new build commercial premises constructed to your design and specification, whether it be conventional offices, lab space, high tech industry, healthcare or similar uses.  The property sits within secure private landscaped grounds accessed via the private service road with 24 hour manned gatehouse and site wide CCTV.”

Further, the property has excellent motorway access being located half a mile from Junction 28 of the M1 at its intersection with the A38 dual carriageway.  The Village is within close proximity to the East Midlands Designer Outlet Village which provides numerous shops, cafes and dining facilities.  Buildings can be designed to suit occupiers requirements and specification and offered on a freehold or leasehold basis.

For further detail please contact Tim Richardson at FHP on 01332 343 222 or Mark Tomlinson on

0115 958 7577.

Ends.

July 2015

FHP Property Consultants are pleased to have been instructed to market a substantial office suite in Derby City Centre.  The premises are situated on the second floor of Victoria Chambers, which is a prominent substantial building on London Road opposite the Intu Centre.  Ground floor occupiers include Argos and Wilko, making the premises easy to identify.

The offices have a ground floor entrance foyer with stairs and lift leading to refurbished high quality office accommodation finished to a high standard including gas fired central heating and perimeter data trunking.  Some parking spaces are available together with potential for additional contract parking nearby.

The suite extends to some 389m² (4,187ft²) and has the benefit of all City Centre amenities nearby, easy road access and being within walking distance of the bus and railway stations.

For further information please contact Tim Richardson on 01332 343 222 or timr@fhp.co.uk.

End.

July 2015

FHP Property Consultants are delighted to be able to offer a ground floor office suite on Pride Park in Derby which is currently undergoing complete refurbishment and upgrade to provide high quality space in an excellent location.

9 Riverside Court is situated in a prominent position fronting Riverside Way, one of the main arterial roads through Pride Park, which is Derby’s premier business location.

The suite extends to some 1,150ft² or thereabouts and when finished will incorporate suspended ceiling with inset lighting, comfort cooling, raised access floors and staff facilities.  Other occupiers within the courtyard include Maber Architects, Radleigh Homes, Cedar House Investments, Angel Trains and of course ourselves, FHP!

The suite will be available to let on a new lease and early interest is encouraged.

For further information contact Tim Richardson at FHP on 01332 343 222 or timr@fhp.co.uk.

 
End.

July 2015

FHP Property Consultants are pleased to have been appointed to market two office suites now available in Darley Abbey in Derby.  The offices form part of the Darley Stables Complex which was completely renovated in 2014 having previously lain derelict for many years.  The Stables form part of the former Darley Hall and are situated in a very pleasant parkland environment at the northern end of Darley Park.  There is therefore an onsite café, parkland, the River Derwent and the village amenities on the doorstep, and the complex still has excellent road communications being close to the A6 and A38.

The two suites extend to 100m² and 105m² (1076ft² and 1130ft²) available individually or combined and include a number of unique historic features.  The offices are available to let on flexible new lease terms.

For further information contact Tim Richardson at FHP on 01332 343 222.

FHP Property Consultants are pleased to announce the recent letting of Part Peel House Chesterfield to Infinity Martial Arts, who have signed a new 3 year lease on 2,143ft².

Darran Severn from FHP’s commented:

“It is great to see an alternative user in this building which perhaps may have struggled to attract a modern day office tenant”.

James Boyle Director of Infinity Martial Arts comments:

“Chesterfield is a perfect location for Infinity Martial Arts.  Not only is this traditional market town a beautiful place but it has a strong and growing population of families.  Chesterfield has also positively gained a lot of investment recently, securing more employment and attracting more local businesses.

This is exact what Infinity Martial Arts have been looking for and we can’t wait to be working with the local community to offer safe, enjoyable, professional martial arts in town and the surrounding area.”

There are now two remaining office suites available at Peel House, one of 1,633ft² and the other 4,175ft², both of which would suit a variety of uses.

For further information on this letting, please contact Darran Severn from FHP on 01332 343 222 or darran@fhp.co.uk.

End.

July 2015

We are thrilled to be moving into Quantum House and feel it’s the perfect place from which we can grow our business. FHP were pivotal in our decision to move into the property, they were professional, curious and reactive – meeting us with only 20 minutes notice!

FHP have recently been instructed to sell Hine House on Regent Street in the Professional Quarter of Nottingham city center.   The property comprises a Grade II listed office building of some 4,000ft² which has recently been refurbished to a high standard and is being offered for sale.

Mark Tomlinson of FHP Property Consultants commented:-

“Our client has recently undertaken a substantial refurbishment program on this property which provides a fantastic office environment whilst maintaining many of the buildings original features.  The property would suit a growing local business to occupy the premises, also the property also does lend itself to be split into two parts to suit separate companies if required.”

Further details on this rare opportunity are available from the agent Mark Tomlinson on 07917 576 254 or Mark@fhp.co.uk.

FHP acting on behalf of private clients are delighted to announce the recent letting of two office suites at High Cross Street in Hockley, Nottingham to Legal Recoveries and Collections Ltd (LRC).

LRC have taken a total of 3,425ft² spread across two floors satisfying their requirement to relocate their existing Nottingham based operations into the City Centre.

Lucinda Hancock of FHP Property Consultants who concluded the letting commented:-

“Having identified LRC’s key search criteria we looked at a number of different City based options before the opportunity at High Cross Street was determined to tick all the boxes. The suites were beautifully presented having been speculatively refurbished and facilitated a smooth relocation into the premises following swift completion of the legals”.

“We only have one available suite remaining at High Cross Street and I anticipate that the building will be fully occupied in the near future”.

Claire Stocks, Director at Legal Recoveries and Collections Ltd commented:-

“Legal Recoveries and Collections Ltd (LRC) are a long established Nottingham based Debt Recovery Agency and we will be moving back into the heart of Nottingham City Centre at the end of June”.

“This is an exciting move forward for the business and the recently renovated property at High Cross Street, Nottingham will provide the right amount of space needed for growth and a stronger local professional presence in the City Centre for meetings and events.”

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

END

The Derby office market is going through interesting times at the moment and in this review Tim Richardson of FHP Property Consultants in Derby looks at current trends and how the market may evolve in the CIty.

Over the last few years we have seen an increasing supply of outdated secondary office space within the City Centre which has proved difficult to let.  Up until about 2008 these were achieving reasonable rents in the order of £7-£10 per ft² but over the last five years have really struggled to secure much interest at all and now with an improving residential sector we are seeing these being converted to apartments.  These buildings are some of the most well known in the City, such as St Peters House comprising some 100,000ft² of office space, recently sold for conversion to 147 apartments,  and the 35,000 sq ft Roman House on Friar Gate, a former City Council building, also being sold for conversion.

The Heritage Gate office complex, once in its heyday the place to be, faces an uncertain future, with only 20% occupancy and currently on the market.  We anticipate that most of this will go for residential conversion.  However, it is a good commercial location and it would be nice to think that at least some of it such as Norman House will remain as offices and be refurbished to provide the type of high spec accommodation that people now require.

This leaves very little good quality office accommodation in the City Centre.  There is virtually nothing to buy freehold for small owner occupiers or pension funds, and no grade A space ready to move into.  Friar Gate Square has been taken by the University of Derby for their Law School, and while some argue that this demonstrates that there is scant demand for City Centre offices, this is definitely not the case.  Friar Gate Square was initially intended to suit a single major occupier which didn’t quite happen and although it could have been split for smaller suites, that sector of the market wasn’t yet ready to pay £18.50 per ft² when you could still get perfectly good space at Pride Park for £10 per ft².

We continue to see an exodus from the City Centre to Pride Park, despite the best efforts of the City Council and others and it is not necessarily driven by desire for people to be on Pride Park, more due to the lack of suitable stock in the City Centre.  From the businesses we talk to there is a strong appetite from local companies to move back into the Centre if only there were the right product there.  This is in part borne out by the success of the Connect Derby Scheme which provides City Centre space such as Sadler Bridge Studios and the former Magistrates Court mainly aimed at smaller enterprises.

At the moment, well located refurbished space in suites of 1,000-5,000ft² certainly have an appeal and this can be accommodated in buildings such as Laurie House  in the City Centre where our clients have refurbished the external and common parts to a very high standard and let one floor to Citibase.  Additional refurbished space is available at a very competitive rent in the order of £8 per ft².

New build offices in the City are still proving challenging, partly due to land values, build costs and a reluctance from occupiers to pay the figure necessary to make such schemes viable.  However, with rents on Pride Park and on good quality accommodation increasing then the gap between a new build rent and a well specified second hand rent is diminishing.

Of the proposed City centre new build development we have seen Friar Gate Square go to education use, and Central Square on Cathedral Road is under construction as student accommodation.  Cedar House Investments’ City Gate House also on Cathedral Road can provide up to 56,000ft² of offices and is ready for development.

Also in the City Centre, Wilson Bowden’s Full Street development is under way with a Premier Inn and 46 apartments under construction and due to be completed by the end of the year.  Adjacent to this they are able to build out brand new offices known as One Cathedral Green which will be able to accommodate suites available from circa 2,000ft².

We are able to offer new build offices on St Mary’s Gate of 4,515ft², either on a design and build basis, or alternatively a land sale will be considered.

Whilst Derby is still very much a car based City, and availability of parking nearby is essential, the City Centre is the most sustainable location in terms of transport modes.

Pride Park as mentioned earlier continues to be popular and still has a reasonable availability of offices between the 1,000-10,000ft² size range, although if take-up continues in the way it has, then this stock will rapidly diminish and the final phases of schemes such as Pullman Business Park will come to an end leaving no new build available on Pride Park either.  There are still development opportunities available such as The Point on Hudson Way, which can accommodate requirements for new build offices up to circa 40,000ft² with easy accessibility and a two minute walk to the railway station.  We are seeing  improvements in rental values and capital values on Pride Park as the supply diminishes and the days when the tenant could take his pick of half a dozen properties and demand the best terms are now long gone.

We continue to see a higher level of enquiries for office space across the City both in the centre and out of town allied with increased confidence and there have been a number of key lettings to the professional services sector in the 1,000 -5,000ft² range.

The challenge moving forward is to make the jump between values for good second hand and brand new grade A space to make speculative new build viable and by the look of the market we are getting very close.

Contact:

Tim Richardson

FHP 01332 343222

FHP Property Consultants are delighted to announce that a further sale has been agreed at Ash Tree Court on Nottingham Business Park to Red Independent Financial Advisors a growing financial advisory company relocating from Strelley Hall.

Mark Tomlinson of FHP Property Consultants who concluded the sale commented:-

“This is the latest in a series of deals on Ash Tree Court marking a flurry of office activity on The Park which has seen vacancy levels reduce drastically. At the start of the year there were four units available on site, we now have just one unit remaining and have rental proposals out to two parties on this unit. This marks a significant change in the outlook of the office market which has been in the doldrums for some years and we are now managing to agree increasingly better freehold figures and stronger rental terms”.

“We have previously secured two further lettings on site to Community Solutions who are also relocating from Strelley Hall and also with Kelway”.

For more information about the Press Release, contact: Mark Tomlinson at FHP Property Consultants on 0115 950 7577.

ENDS

FHP Property Consultants are delighted to confirm the letting of a high quality 2 storey office building to GEW2 Limited.  The property has excellent access to the A38 and thereby M1 being located within the Key Point Office Village in Alfreton.  The premises extend to some 1,360ft² over two floors finished to an excellent specification providing a modern working environment with allocated parking within a court yard environment.

Tim Richardson of FHP comments:

“The lease to the previous tenant was due to expire in September 2015 but we identified a new tenant within days of placing the property on the market.  Terms were agreed and the new lease completed within a short timescale facilitating an early surrender of the previous lease to the mutual benefit of all parties.”

Iain Gorman from GEW2 comments:

“We were keen to secure a new premises and 4 Key Point offered modern space of exactly the right size and in the perfect location for us so it was an easy decision to take.  The property gives us an excellent base from which to drive forward the expansion of our business.”

Andrew Bock from Clowes Developments added:

“We are delighted to have secured a new lease to a high caliber tenant such as GEW2 within such a short timescale.  When we originally constructed the Office Village we had confidence in the location and the quality of buildings we constructed, and this view is supported by the level of interest FHP received.”

For further information please contact Tim Richardson at FHP on 01332 343 222.

Mark Tomlinson of FHP Property Consultants has recently concluded the sale of 29 – 31 Upper Parliament Street, Nottingham, a Grade II Listed Watson Fothergill Building fronting Upper Parliament Street and King Street in the heart of Nottingham City Centre.

The property comprises four floors of former office accommodation previously occupied by Freeth Cartwright and has been vacant for some time given the difficulties in the City Centre office market during the recession years.

The property has been purchased by 29 Stoney Street LLP, to carry out a residential conversion of the premises to provide a range of apartments for the private sector.

Mark Tomlinson of FHP Property Consultants commented:-

“I am delighted to have concluded this sale of such a landmark building in Nottingham City Centre and I am glad that it will now be put into use. I have worked with Andrew Davison-Hogg of 29 Stoney Street LLP on a previous project on Barker Gate and he does have an excellent track record in converting Listed Buildings to provide excellent quality product for the residential market.”

The purchaser Andrew Davison-Hogg of Stoney Street LLP commented:-

“We are very excited to have the responsibility of converting such a beautiful building and bringing it back into use.”

The purchaser is working with DL Design Studio Ltd to create a sympathetic scheme taking into account the Listed nature of the building.

Daniel Lacey of DL Design Studio Ltd, who is working with the new owners in designing the new scheme, commented:-

“We are excited to be working with Andrew to bring a new vibrancy into a prominent but vacant city centre listed building. He is a proactive and conscientious client and we are looking forward to helping him extract the best from the space, improve the life of the building and preserve the existing historical architecture.“

ENDS

FHP acting on behalf of private clients are delighted to announce the most recent letting at 36 Regent Street to Your Hair Clinic in Nottingham’s Professional Quarter.

Lucinda Hancock of FHP Property Consultants who concluded the letting commented:-

“Your Hair Clinic had targeted the Professional Quarter as their preferred location for the new clinic and I was thrilled that their chosen suite which recently became available at 36 Regent Street matched the key criteria of their requirement.”

Dwane Castillo of Your Hair Clinic commented:

“Your Hair Clinic offers a specialist treatment, so it was very important to us that we found suitable premises that complimented the needs of our business.

We are really pleased to have moved into 36 Regent Street; the property not only meets the requirements of our licencing legislation but also instils confidence to our customers that we are based in a quality environment.

36 Regent Street is well located for us in the well-respected Professional Quarter which is a beautiful area and accommodates sensitive and discreet nature of our business perfectly.”

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

FHP acting on behalf of private clients are delighted to announce the most recent letting at the now fully let Quantum House on College Street to The Framework Web Development Limited who have opened a new office based in Nottingham.

Lucinda Hancock of FHP Property Consultants who concluded the letting commented:-

“The team at The Framework Web Development Limited considered a number of options across the City Centre before focussing their requirement on the Professional Quarter. Having shortlisted two properties handled by FHP I was pleased that the opportunity at College Street was selected to satisfy their requirement.”

Stephan Hayward of The Framework Web Development Limited commented:-

“We are extremely excited to be moving into Quantum House, and feel it’s the perfect place from which we can grow our business. FHP (Lucinda) was pivotal in our decision to move into the property, they were professional, curious and reactive – meeting us with only 20 minutes’ notice!”

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

FHP Property Consultants are delighted to bring to market an office suite at Hope Drive on the prestigious Park Estate.

The suite comprises 318ft² of high quality office space in a multi let Victorian character building. The property is close to bars, restaurants, theatres, museums and is therefore ideally located for both business and entertaining.  It benefits from a bright, communal kitchen with seating and 24 hour access. The rent is inclusive of utilities, business rates and broadband.

Thomas Szymkiw of FHP’s Office Agency Team commented:

“With this suite offering the opportunity for any prospective tenant to essentially ‘plug in and go’ and with FHP seeing increased activity in the serviced office market I am confident that we will receive a high level of interest.  This is coupled with the fact that we previously let a suite in the building after only the first viewing.”

For further information or to arrange a viewing, please contact Thomas Szymkiw of FHP Property Consultants on 0115 8411159 or thomas@fhp.co.uk.