Vasek Insurance have expanded into the fifth floor of 30-34 Hounds Gate and FHP Property Consultants can confirm that they have completed a 7,500ft² part renewal and new letting to Vasek Insurance on the fourth and fifth floors of 30-34 Hounds Gate.

The letting agreed by James Hartley of FHP Property Consultants means that the fifth floor has been let within a matter of days of the space becoming vacant.

Sarah Cooper of the landlords commented:

“I am delighted to see one of our tenants showing such strong growth and wanting to commit their future to the property.”

Vasek who specialise in insurance for landlords was founded in 1998 and are one of the leading insurers in the UK within this field.  They initially moved into 30-34 Hounds Gate 3 years ago and the expansion sees them occupy the two upper floors within the building.

James Hartley of FHP added:

“One of the most satisfying parts of my job is to find tenants that you put into buildings wanting to expand and being successful.  Not only have they expanded within Hounds Gate but they have also committed to the building for another 7 years across both floors. 

Hounds Gate is situated in the Professional Quarter of the Nottingham City Centre and offers excellent proximity to public transport, car parking, shops, restaurants and coffee shops associated with such a strong central location.  This mixed with high quality office space at affordable rent means that Hounds Gate is an ideal location for an office within Nottingham City Centre.  There are a further two floors of vacant space currently available within the building ranging from 3,500ft² to 7,000ft².”

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

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

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

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

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

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

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

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

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

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

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

James Richards of Clowes Developments commented:

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

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

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

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

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

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

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

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

FHP Property Consultants are delighted to announce the sale of 3 St James Terrace, a 1,500ft² self contained office building located close to Nottingham Castle in the Professional Quarter of Nottingham City Centre.  The property has been sold to We Are Pure, a branding, packaging and communications experts already located in the City who are undertaking planned expansion following successful trading.

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

“3 St James Terrace was brought to the market at the end of 2013 to let with the possibility that the Landlord would consider a sale.  We received a number of freehold enquiries for the property which resulted in a competitive bidding process on the property and a very strong value was achieved.  This indicates a certain level of confidence is returning to the office market.  Of course properties in this area of the City are always in demand from owner occupiers but even I was surprised by the amount of interest that we received for the building.

We have now concluded a number of freehold transactions in the Professional Quarter of the City over the last 12 months and the general tone of values being achieved in the area is certainly increasing.”

FHP Property Consultants are delighted to announce the letting of the 4,000ft² office building at Park Place, Robey Close in Linby close to Junction 27 of the M1 Motorway.  The property has been let to Watlow Limited a company with Headquarters in the United States, a specialist in manufacture of custom commercial electric heating solutions.

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

“Offices in this location of Nottinghamshire have experienced high levels of vacancies coupled with supressed levels of demand for offices of this size.  However, we are seeing increasingly limited supply of genuinely good quality opportunities at this time with a complete lack of new development of offices opportunities.  Slowly but surely we are getting to a position where enquiries actually don’t have the choice that they once had and this is resulting in a more optimistic outlook on the office market as a whole.

Quite clearly we have some way to go before confidence returns to the market in such a way to enable speculative development but lettings such as this are certainly a positive sign.”

Acting on behalf of Fowler Smith & Jones Trust FHP Property Consultants have completed the renewal of a lease to Miller Homes at Centro Place, Pride Park, Derby. 

James Hartley, Associate Director at FHP Commented:

“Miller Homes had exercised their break clause when the landlords approached us to bring the space to the market. 

The initial advice within our marketing report and strategy was to approach Miller Homes to see if we could put a deal together to keep them within the building.  They have quite a history on Pride Park and have been in the Centro Place offices for such a long period of time that we were confident that something could be agreed to retain them and this proved to be the case.

I am delighted for the Trust to have secured Miller Homes and at the same time secured what is an important investment for them and an income stream for the Trust.”

Acting on behalf of Teleral Trillium FHP have sold the 17,500ft² former Job Centre on High Pavement within the town centre of Sutton-in-Ashfield to Foxhall Business Centres.

Foxhall Business Centres were established in 2002 with the ideology to create a flexible and versatile approach to office management.  This will be their fourth office within their portfolio adding to Foxhall Lodge on Radford Boulevard, 2 King Street overlooking Nottingham Market Square and Hamilton House on Hucknall Road in Sherwood.

Tom Wilton of Foxhall commented:

“High Pavement was an opportunity too good not to proceed with.  Expanding into Sutton-in-Ashfield and particularly into a building like this is a good fit for Foxhall and allows us to increase our operation.  Our intention is to benefit from the excellent town centre location and proximity to the Motorway by undertaking a full refurbishment to the office suites to bring them up to a very high standard in line with the rest of our offices.

We haven’t fully made up our minds as to the size and services of offices in the building so at this stage we are able to react to what the market wants be it one operator or a number of smaller operators.

James Hartley of FHP Property Consultants commented:

“This sale of High Pavement is the third former Job Centre that FHP have sold for Telereal Trillium and the second sale within the last 12 months alone.  Working alongside Trillium in these disposals is always enjoyable and offers a different challenge every time.  We have sold buildings to a Church in Nottingham City Centre, a Government funded project in Basford and now this one to Foxhall. 

We have also recently been instructed to market a former Job Centre in Derby that is drawing strong attention from restaurant users.  Each site is so unique because of its style, location and condition.”  

FHP Property Consultants are pleased to announce the sale of 2.1 Horizon Place on Nottingham Business Park to Bobby Kalar has now completed. 

Bobby intends to launch his new energy company from the site, YU Energy.

The sale is the latest in the line of a number of office deals on the park in the last 6 months. 

These have included David Wilson Homes who have leased 2.2 Horizon Place and Key Care Solutions who have taken an office within the Ash Tree Court area of the park.

The sale of 2.1 Horizon Place constitutes a significant deal in itself as it accounts for 10,000ft².

James Hartley of FHP Property Consultants commented: 

“We have seen some real momentum along the Motorway Junctions within the office market and at Nottingham Business Park a Junction 26 in particular.  I know Mr Kalar had been looking for the right offices for some time and once he had visited Nottingham Business Park he was won over by the quality of offices and working environment on offer within the 125 acre business park.”  

FHP is advising Peel Group on the development of the first phase of Unity Square, which will see 50,000ft² of BREEAM Excellent Grade A office space and a 160 bedroom hotel constructed directly opposite Nottingham Railway Station.

Peel has secured a deal which will see Nottingham City Council take 25,000Ft² of space in the building in order to help development get underway.

The scheme will benefit from the £60m investment in transforming the railway station into a transport interchange bringing together train services with the Nottingham tram network.

Confirmation of the Unity Square deal will follow the completion of due diligence, the finalising of Heads of Terms, and a successful GPF application, but all partners are confident these matters can be swiftly resolved.

Richard Mawdsley of The Peel Group, said:-

“We are delighted to confirm very positive recent progress on bringing forward our Unity Square scheme in Nottingham. These are still early days but we are confident that outstanding matters can be put to bed very soon, and a start made on this very exciting Grade A office development at this unique location, early next year”.

Councillor Jon Collins, Leader of Nottingham City Council, said:-

“We are really pleased to be part of this new flagship development right at the heart of the Southern Gateway regeneration area.  We have a need for some further quality office space near to our Loxley House headquarters, and it’s good to know that our action will help unlock other BREEAM Excellent offices in Nottingham, for which there is proven demand.”

FHP founding Director John Proctor is acting for Peel Group. He commented:-

“This is the centrepiece of Peel and the City Council’s vision to create a sense of arrival opposite the transport interchange.  They are delivering Grade A BREEAM Excellent offices and starting what can be a major business district. It is fantastic to see the City Council enabling this scheme to come forward at an ideal time when the economy is strengthening and enquiry levels are picking up.  It is vital that Nottingham is able to compete commercially with locations like Birmingham and this will give us an opportunity to do that.”

FHP Property Consultants are delighted to announce the sale of 2.3 Clarendon Business Park, a modern two storey office building just to the north of Nottingham City Centre.  The property has been purchased by Twist Digital, who provide tools and social support for internet marketing firms.  Twist Digital are relocating from serviced offices on Hucknall Road having rented offices since their incorporation.

Andrew Slack, Managing Director of Twist Digital commented: –

“I am delighted to be moving onto Clarendon Business Park which is just around the corner from our current offices. Having rented for a large number of years and been contributing to somebody else’s mortgage, I felt the time was right to purchase our own property.

The media are reporting that the property market is showing signs of recovery which suggests now is the right time to buy. I hope that the cost of legal fees, renovation work and relocation will be offset by the increase in value over the upcoming years. Most of all it means we can start paying off our own mortgage rather than somebody else’s.”

Mark Tomlinson of FHP Property Consultants, who acted on behalf of the vendor in the sale commented: –

“Freehold offices around the City are in increasingly short supply at this time and prospective purchasers can choose from only a handful of options.  Due to this lack of supply we are seeing a steady improvement in freehold values being achieved which is a positive story for the office market which has been a very difficult sector over the last few years.

We are now seeing signs of improvements and this sale shows that there continues to be demand for good quality offices in the right locations.

We are now marketing the neighbouring property on Clarendon Business Park which is available both for sale or to let with options from 2,000ft² – 4,000ft².”

FHP Property Consultants are delighted to announce the letting of Kingfisher House in Ilkeston, a self contained two storey office building constructed approximately 10 years ago.  The building has been let to P3 Charity, an organisation who provide services for vulnerable and disadvantaged people creating routes out of homelessness and social exclusion.

This marks an expansion in the Charity who occupy the neighbouring property and have doubled their size requirement following significant increase in take up of their services.

Mark Tomlinson of FHP Property Consultants commented: –

“The office market generally in this area of Nottinghamshire has been difficult over the recession years with the majority of activity in the area being from the industrial and distribution sectors which have been fairly positive for some time.  It now appears that the office market is slowly but surely catching up and I was very pleased with the amount of interest which we received in this building from the outset.  The property was marketed for 3 months, we undertook a number of viewings and completed the letting within 6 months of the initial instructions.  This is a very short time scale in the current market.

The main reason I can see for this is the lack of supply of good quality office accommodation in this area of Nottinghamshire, Kingfisher House offers modern open plan accommodation over two floors with decent levels of car parking onsite and these factors were not lost on the local office occupiers.

It is positive to see that the local occupiers were viewing the building and bringing forward serious proposals to expand their businesses.  I hope that this more progressive thinking among small to medium businesses continues into 2014.”

VF Corporation, which owns a range of iconic labels including Timberland, Vans, The North Face and Wrangler, is moving into The Curve, a 30,000 sq ft office building on the NG2 Business Park in Nottingham.

The move will bring 120 new jobs to Nottingham, with expansion also leading o the creation of a further 30 posts at another VF facility just outside the city. The Curve will become home to a customer service centre of excellence, with a multi-lingual team which is ultimately expected to grow to around 200 people.

The building is owned by Friends Life and managed on their behalf by F&C Reit. The Nottingham property consultancy FHP represented Friends Life in the transaction, which is being hailed as a significant inward investment win for the city.

John Proctor, who leads the office and industrial department at FHP, commented: “We are delighted to be part of the team which has brought VF to the city. F&C Reit takes a strategic long term view on its property assets and has the foresight and motivation to help deliver such an exciting move for the city and one which helps underpin Nottingham’s expertise in customer services.

“The Curve is a prominent Grade A building in one of the most prestigious addresses in the city, with VF Corporation joining a rage of blue chip occupiers including Experian, Speedo, Specsavers, Coutts and the Bank of England. It is a fitting location for a growing business which clearly has great ambitions.”

VF Corporation has had a presence at Calverton in Nottinghamshire for many years, where it already employs 200 people in warehousing and support functions. The new facility at The Curve will provide Europe-wide support for wholesale customers and for consumers buying through its expanding range of online stores.

A spokesperson for VF said: “We are pleased to expand in the Nottingham area, as VF has a strong history at our Calverton site – both in our operations and the ability to recruit quality employees to our growing company. We look forward to welcoming talented individuals, most of who will be multi-lingual with strong communication skills, who can help us continue to build strong relationships with our customers.”

One of the most significant inward investments in Nottingham for sometime, the deal has been welcomed by Lorraine Baggs, of Invest in Nottingham, the inward investment organisation for the city. She said: “VF is a valued employer in the city and county, and is making a significant contribution to our economy. We’ve been working together for some time to find the right solutions for the company to enable them to remain and expand in the area. We’re delighted to see them moving to The Curve and very much look forward to continuing to support them in the future.”

The complex transaction, which saw the tenant surrender its interest and Friends Life agree a new lease with VF, was secured by a team of consultants which also included Innes England and CBRE.

Craig Straw of Innes England acted for the outgoing tenant. He said: “This is a significant win for the city. The company has not only confirmed its commitment to retaining its presence in the county, it is planning to create further employment opportunities at both locations.”

Ashley Hancox, senior director at CBRE, acted for VF. He commented: “The letting to

VF Northern Europe is great news for Nottingham. The Curve was the perfect choice, not only because it can accommodate around 450 people, but also because of its close proximity to the city centre, access to the local skills base and the nearby transport links, and the quality of the accommodation.”

Councillor Nick McDonald, portfolio holder for jobs and growth at Nottingham City Council, welcomed VF to the city, commenting: “This new investment is great news for the city. It confirms the upward trend we are seeing for business in Nottingham currently.

“With recent news that our city is cited by the UK’s top firms for as a prime target for recruitment, deals on Grade A office space being up 130%, and £51m of business finance secured for the city, it’s becoming clear that Nottingham is more of a prime location for business than ever. Our aim is to keep the positive trend going and to ensure that local businesses and residents are the ones who benefit.”

Simon McIntosh of F & C Reit Asset Management added: “We are very pleased to have been able to work with VF – this is exactly the kind of proactive asset management approach that we seek to encourage across our entire property portfolio throughout the UK.”

PKF Cooper Parry is to open a new ‘super office’ in 25,000 sq ft of space at the Pegasus Business Park, Castle Donington, in a property formerly occupied by a subsidiary of the airline BMI.

It represents a major move for PKF Cooper Parry, with its 200 staff switching to the new strategic location from three different sites, bringing its teams together under one roof and enabling future growth. Work is now underway on a bespoke fit-out intended to provide its staff with an inspirational environment which reflects modern working practices.

PKF Cooper Parry is leasing its new headquarters from Commercial Estates Group (CEG), the national property investment and development company which has managed both this property and the adjacent trading estate since these properties were acquired as part of a national portfolio in January 2012.

John Proctor, who leads FHP’s office and industrial team, negotiated the letting on CEG’s behalf. He commented:  “CEG recognised the strategic importance and strength of the East Midlands Airport as a business location when they originally acquired the property.

“From the outset it was planned that the property, which was originally built in the early 1990s, would be extensively refurbished to provide Grade A office space. Securing the interest of PKF Cooper Parry at such an early stage has enabled their specific requirements to be incorporated into the main refurbishment project.”

Antonia Martin-Wright, investment manager at CEG, said: “A letting of this size shows improved market sentiment – this is the third letting within 12 months since our involvement with the site which is testament to the quality of accommodation and attractiveness of the estate.”

The project to amalgamate PKF Cooper Parry’s three current sites in Nottingham, Derby and Leicester into the new ‘super office’ has also involved commercial property consultancy Innes England and Paragon Interiors Group.

Innes England has a long-standing relationship with PKF Cooper Parry and was appointed to help the firm to secure its new premise. Its in-house building consultancy team was also employed to advise on the refurbishment of the building.

Robert Hartley, managing director at Innes England, said: “Having worked with PKF Cooper Parry for many years, I am very pleased to have been able to assist on what is a huge relocation project for the business.

“Moving three offices to one location is a challenge and it was essential to find the right premises for the company’s needs. This property offers the space and spec the firm was looking for in an ideal location, mid-way between the three previous offices and just off J24 of the M1.”

Nottingham-based Paragon Interiors Group will manage the office refurbishment and fit out of the new office.  Managing director Alan Hardy said: “We have worked very closely with the team at PKF Cooper Parry to develop a theme which will define the look and feel of the new office. We felt that a Google-style workplace with bright and bold colours would not only reflect the new branding but also bring the company’s dynamic culture to life.”

The new office will include themed meeting rooms on the ground floor as well as a modern and airy café and informal break-out work spaces for team members ‘on the go’. The first floor will accommodate all partners and employees in an open plan environment which will enable teams to easily and comfortably interact.

Jeremy Bowler, chairman, of PKF Cooper Parry, said: “There’s been so much planning involved in the move, it is very exciting to reach the next stage and see activity start on site. We are very thankful to the organisations we are working with who are helping us bring our vision for a bigger and stronger PKF Cooper Parry to fruition.”

One of the largest mix use developments in Nottingham City Centre, Chapel Quarter on Maid Marian Way, has secured its latest tenant and is now fully occupied with the letting of 15,700 sq ft offices to web design and marketing business Adtrak LLP.

The deal will see Adtrak occupy the remaining vacant office space in the building, which is also being linked in to the former Tonic bar and restaurant, to create a unique workplace for the business. Work has already started on the conversion, with the business expected to move in March.

Adtrak currently employ 80 people in the city and the move to new premises will enable them to not only significantly enhance their client experience, but also move forward with the rapid expansion plans that will hopefully see over 100 people employed from the offices initially.

Chapel Quarter is prominently located at the top of Maid Marian Way and is one of the largest mixed use schemes in the City. The building is now fully let with office occupiers including Thomson Reuters, Global Radio and Barclays. Restaurant and leisure occupiers include M10 Fitness, ASK, Mr Manns, Fat Cat, Las Iguanas and Holiday Inn Express.

Adtrak were represented by property consultants FHP, with James Hartley commenting:

“When Adtrak first approached us looking for a new office space, we knew that what they were looking for was going to challenge our acquisition skills to the full. Given the nature of what they do, they were after something unique that would stand out from the crowd. The space also had to be big enough to house their rapid expansions plans. It was not going to be easy.

Luckily enough, given our involvement in Chapel Quarter, we knew there was such an opportunity lurking in the Nottingham office market. With the kind of imagination and flare that Adtrak rely on in their day to day work, they were able to see what the combination of a traditional office mixed with a restaurant could offer them with the right amount of refurbishment work.

I can’t wait to see the space finished I think that it is going to offer Chris and his staff a fantastic working environment and something that their clients and visitors will only be impressed by.”

James Keeton of Jones Lang LaSalle, joint letting agents on the building commented:

“We managed to come up with an innovative solution to meet the requirements of Adtrak for a city centre location by combining two very different spaces to deliver the volume of space required, whilst at the same time, maintaining their requirement for high quality office and ancillary space.

Chapel Quarter already has a high quality of tenant mix and this will be very much complimented by the arrival of Adtrak. Their proposals will create unique office space in the city and a true reflection of the ethos of the business.”

Chris Robinson, Managing Director of Adtrak, added:

The new 15,700 square feet of inner city office space, which is spread over 3 floors, represents Adtrak’s commitment to further expanding our national web design and internet marketing operations from Nottingham.

We will be installing innovative work spaces, meeting areas, breakout zones, Gym facilities and new photography studio which will encapsulate a creative environment that reflects our business culture.

Once the offices have been fully redeveloped, they will offer our staff and clients a unique, modern environment to work from and allow us to further build on our success to date.

We hope to expand Adtrak’s staff levels from 80 to up to 130 over the next two to three years and the new office in Nottingham city centre will provide us with the perfect space to execute our expansion plans.

Adtrak will move in to Chapel Quarter at the beginning of March 2014.

I would like to say a big thank you to James Hartley from FHP, James Longden of the Stainton Group and to Structural Interiors for all their help in developing the Chapel Quarter and Tonic premises.

FHP Property Consultants are delighted to announce the letting of a period office property at 7 College Street in Nottingham City Centre. The property comprises a charming and refurbished self-contained office building with a large car park and is a short walk from Cast Café and Restaurant and many other cafes, restaurants and bars which this area of the City has to offer.

The property has been leased by AKA Case Management Limited, a company who are specialists in providing a high quality service of care the field of traumatic neurological conditions such as brain and spinal cord injury, as well as cerebral palsy. Surrounded by many other medical and serviced occupiers, this location will complement AKA Case Management’s Business Plan and growth aspirations.

Working with clients across the country, AKA Case Management Limited helps put meaning back into their lives by helping with cost-effective care planning for their present and future needs; providing a network of specialised therapy and support as well as ongoing rehabilitation for as long as is required.

This move marks an expansion following positive growth of the company over the last few years and the time had come for AKA Case Management to move out of a serviced office centre into their own premises in this well-established area of the City.

Angela Kerr, Managing Director of AKA Case Management commented: –

“We are thrilled to be moving into our new offices; this reflects the positive growth of our company and the new space will allow us to continue to thrive and grow. The expansion is due in part to the excellent professional networks AKA has facilitated over the last few years, along with the professionalism, expertise and determination of our staff. These new offices will provide a warm and welcoming environment for our staff and clients, and will enable us to provide Case Management for a greater number of people who require our services.”

Mark Tomlinson of FHP Property Consultants who are acting on behalf of the Landlord in this letting commented: –

“I am delighted that we have achieved this letting to AKA Case Management in this building which was one of the last few good quality buildings available in the area to service the local SME market.  We have seen high levels of take up in this area of the City over the last 2 years and this has resulted in the situation where opportunities such as this are in relatively short supply.  This building was marketed for 9 months before a suitable tenant was found, when you compare this with the marketing void periods which we were experiencing 2 years ago, which were in excess of 12 months, we are now seeing a more positive picture for Landlord’s in this area.

Apart from two much larger office buildings targeted at larger corporate occupiers there are now only a handful of good quality buildings in the area to service the local market – tenants should act quickly if they are to secure a building in this area on favourable terms over the next 6-12 months.”

Some parts of the commercial property market never really lose their appeal and the traditional professional quarter of Nottingham has to be one of them. This is the part of the city full of attractive period buildings bordered by The Ropewalk, Derby Road and Park Row which has traditionally been home to Nottingham’s professional advisory community, ranging from architects, barristers and engineers to financial advisers and property firms – and more.

2012 saw the first signs that this market was picking up, and the demand has been healthy again in 2013 – if not quite at the levels it was in the previous 12 months. But I don’t see that as another dip – to me, this year’s slight drop in transactions is due to the ebb and flow that comes with the usual rises and falls in supply and demand. In other words, the market is back to something resembling normality.

The amount of space taken up this year has been around the 15,000 sq ft mark. That may not sound huge, but these are not massive buildings and their historic nature means that it isn’t always easy to find a property that suits the requirements of a specific client.

Nevertheless, we’ve seen some good activity – the consulting engineers Curtins have expanded on The Ropewalk, doubling the amount of space; Pathway Care Solutions have done the same by acquiring a building on Regent Street; BSP has also acquired a property on The Ropewalk. We have also seen a number of properties converted for residential use, reducing availability of traditional office space in the area.

It remains a tight market at the moment because there is roughly 40 per cent less stock available in the professional quarter than there was a year ago. That means less choice for prospective occupiers, but at this stage though it probably doesn’t mean higher rents – instead we are seeing incentives on leasehold transactions reducing and freehold values creeping up.

This particular part of the commercial property market is driven largely by owner-occupier demand – business owners who want to invest in bricks and mortar whose operations don’t necessarily need the large floorplates and flexibility of a conventional office building. As a result freehold opportunities continue to be snapped up quickly with investors being priced out.

Occupiers who like a discreet presence in a period building don’t grow on trees. But this remains an exclusive and attractive location and as the market continues to recover well-presented properties in an upmarket central location will remain popular.

Following the recent lettings to Addvance PR and Penguin IT in October, FHP Property Consultants are delighted to announce a further trio of lettings at Derwent Business Centre to Legend Studio, Corolus Business IT Solutions and AT Creative. 

The former Victorian Railway bonded warehouse which has been converted into offices and studios, welcomes the three companies into Suites 15, 23 and 36. 

Legend Studios, who specialise in fantasy photograph and customized children’s photo storybooks have taken a 3 year lease at suite 15 at the business centre extending to 281ft². 

Suite 23, extending to 750ft² has been let on a 3 year lease to Corolus Business IT Solutions, a professional IT company who have been established for 12 years providing their clients, IT Support and Software and Web Development. 

AT Creative, Creative Design Studio have also taken a 3 year lease at Suite 36 at the Business Centre.  Originally based in West London, AT Creative design cutting edge marketing products that offer industries the ability to present themselves in unique, effective and memorable ways. 

George Dunnicliff, surveyor at FHP who agreed the deals commented:- 

“I am extremely delighted to be able to report further lettings here at the Derwent Business Centre whereby the take up of space is doing very well.  I wish Legend Studios, Corolus and AT Creative the best of luck for the future”. 

For further information on these lettings or for any other property enquiry please contact George Dunnicliff at FHP Property Consultants on 01332 224851 or george@fhp.co.uk.

FHP Property Consultants are delighted to announce the letting of 14 Regent Street in the professional quarter of Nottingham City Centre to Pathway Care Solutions, a medical and care services business already based on Regent Street.  This is an expansion of their office operations following a positive growth period over the last few years.

Mark Tomlinson from FHP Property Consultants commented: –

“I am delighted to have achieved a letting of this building to such a good quality occupier that compliments this area of the city very well.  The Landlord recently took a view to refurbish this premises to a high standard following the previous tenants vacating, a decision which has proved to be correct given the office market at this time which generally remains difficult.

We have recently concluded a number of transactions within this area of the city.  We were previously marketing 8 properties in this location, we now just have 3 left on the market with a further property let subject to contract.  I am hopeful that our recent success is a sign of increased appetite for opportunities in this area of the city and the realisation among local businesses that high quality buildings in this location are now obtainable”.

Acting on behalf of Blue Print, FHP are pleased to announce two recent lettings at Suites 22 and 37 at Derwent Business Centre, Clarke Street, Derby. 

Suite 22, extending to 983ft² has been let on a three year lease to Addvance IT. 

Addvance IT is an independent brokerage and consultancy specialising in delivering contactless payment intelligence to a variety of market sectors. With over 30 years’ IT experience within the Retail and Hospitality sectors they are able to bring market knowledge to their clients and deliver complex solutions in a simple and cost effective manner. 

Suite 37, extending to 304ft² has been let on a three year lease to Penguin PR. 

Penguin PR, is run by two former journalists with 30 years combined experience of working in the media. They have a large client base in the East Midlands with their stories appearing in BBC national radio, Daily Mail, Metro, Daily Telegraph and Have I Got News For You!

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

“I am delighted to report these two recent lettings at Derwent business Centre and I wish both Addvance IT and Penguin PR the best of luck for the future.”

On behalf of retained clients, FHP are delighted to announce the recent instruction of:- 

Peel House, Brimington Road, Chesterfield 

The property which extends to:- 

388m² (4,175ft²) 

Is available by way of a new full repairing and insuring lease for a term of years to be agreed at a rent of:- 

£30,000 per annum 

The available space which is predominantly open plan with adjoining smaller rooms is currently fitted out as a gym/martial arts studio but has previously been used as offices. 

Should you require any further information on this property or would like to view please do not hesitate to contact George Dunnicliff on 01332 224 851 or george@fhp.co.uk.

FHP Property Consultants are delighted to announce the first letting within the recent developed serviced office building on 3 Hope Drive which lies within the Park Estate in Nottingham City Centre.

The property comprises a charming two storey office building with car parking within the grounds of the Park Estate which maintains many of its original period features whilst also offering a modern working environment.  The property has been refurbished and split up to appeal to the local SMEs and new start ups who we are finding require both flexibility in lease terms and certainty in terms of occupation costs.  We are offering all inclusive rents on flexible tenancy arrangements for this reason.

The first letting of the building is to a local psychotherapist who is relocating from Castle Boulevard having already a strong client base in the City.

Within the remainder of the building we are offering offices to accommodate requirements from one desk to as many as 15 desks.

The beauty of this location is that office occupiers can be close to the City Centre without paying the parking premiums which can keep all important overheads right down for businesses.

FHP Property Consultants are delighted to confirm the sale of Halley House on Hounds Gate in Nottingham City Centre.

The office has been sold to student residential developer Forshaw Developments who will be converting the 18,500ft² building into student accommodation.

James Hartley Associate Director at FHP Property Consultants commented:

“I am pleased to see this property coming back into use.  We have seen a number of transactions of this type in the last 12 months and it is becoming somewhat of a trend to see this type of City Centre office which arguably is no longer fit for office use being converted into student residential or private rented residential schemes.

The trend looks set to continue with a proactive planning team within Nottingham encouraging alternative uses for struggling offices.  We are also seeing what appears to be a more positive outlook on the property market which is leading to an increase in activity post summer holidays.  I do think that we will see the trend moving more towards private residential as opposed to students as this market is becoming more and more competitive for student living.”

FHP Property Consultants are delighted to announce instructions to sell Lawrence House on Meadowbank Way in Eastwood, a detached modern office building with excellent car parking close to Junction 26 of the M1 Motorway. 

The property has a net internal area of 616m² (6,636ft²) and is available to purchase at a competitive quoting price of £450,000.

For further information please contact Mark Tomlinson on 0115 8411134.

FHP Property Consultants are delighted to announce the sale of 54 The Ropewalk in the Professional Quarter of Nottingham City Centre.

The property comprises a self contained office building with ample car parking located on the edge of The Park Estate and has been purchased for office use.

The property will now undergo a refurbishment for occupation by the Purchaser who will no doubt add to the quality of the existing commercial occupiers in the area.

The property was sold jointly with Savills through the auction process and a sale was agreed prior to the auction.

Mark Tomlinson of FHP Property Consultants commented:-

“I am delighted to have achieved such a strong sales figure for the Vendor.  Freehold property in this area is always a desirable asset and we weren’t surprised to see good levels of interest in the property throughout the marketing process.

Freehold values in this area of the City have remained strong despite the market conditions and the difficulties being experienced by many Purchasers in obtaining bank funding.  We are still some way off the values being achieved at the height of the market and therefore this is still a good time to buy, especially for Purchasers with cash funds available”.

FHP Property Consultants have welcomed a string of new Tenants to the Ropewalk Industrial Estate in Ilkeston over the last few months.

Since being instructed to market the site in April 2013 FHP have completed nine lettings on site bringing vacancy levels down from 40% to just 5%.

Mark Tomlinson of FHP Property Consultants commented:-

“Our success on this site has been down to the proactive management of the estate coupled with a flexible approach to the marketing and leasing of the individual units.  We have offered flexible lease terms with a standard tenancy arrangement enabling interested parties to take occupation within a few days from the initial enquiry.

We now have only three units left on the site, with all of the larger voids now occupied.  I am delighted with the results here”.

Acting on behalf of a Core Assets, the UK’s Largest Independent Fostering Agency, George Dunnicliff of FHP Property Consultants is pleased to announce the recent instruction of excellent quality office space on Pride Park, Derby.

The property is well located on Brunel Parkway and is highly visible when approaching the city via Derby’s train station.

41 Brunel Parkway is a mixture of open plan/partitioned offices benefitting from; raised access floors, comfort cooling/heating system, 12 car parking spaces and is fully DDA complaint.  The property which extends to:-

286m² (3,077ft²)

is available on a new lease for a term of years to be agreed.

Pride Park is Derby’s premier business location hosting major occupiers including; Derby County Football Club, Rolls Royce, Cooper Parry, Geldards and Derby College.

George Dunnicliff of FHP Property Consultants commented:-

“We are starting to see an increase in demand for offices in Derby so it is both exciting and encouraging to welcome an excellent instruction such as 41 Brunel Parkway to the market and I look forward to announcing a secured letting shortly.”

For further information on this office or any other properties available with FHP Property Consultants then please do not hesitate to contact us on 01332 343222. 

Just a few days ago, Derbyshire & Nottinghamshire Chamber of Commerce delivered some news which, it’s safe to say, we’ve all been waiting for: the regional economy might just be looking up.

We’ve waited a long time for this moment. While George Cowcher, the Chief Executive of the Chamber of Commerce, sensibly added plenty of caveats to his judgements, the evidence was undeniable – Derbyshire businesses are reporting that their turnover has been rising, profits are up, and orders are getting stronger. If the sun keeps on shining there’s every chance some of these businesses will push the button on new investment and new staff.

The implications for the commercial property market in the city and county are obvious: growing businesses could well look for more space. Infact, there is some solid evidence that this is already happening. During the past few months, FHP have secured a series of office and industrial deals at key sites in Derbyshire which tells us that the ‘engine’ of the county’s economy is steadily beginning to motor.

The ‘engine’ in question is the legion of privately-owned small and medium-sized businesses. Some have been around through thick and thin, others were started by people who decided that the downturn was the moment when they would go out on their own. Either way, they are financially conservative and hard-working – just the kind of companies we need more of to sustain recovery.

Over the past few months, these businesses have been busy laying the ground for their future. At The Courtyard, a 10-unit office development at The Village office park at South Normanton, we have gone from a situation where two units were occupied to eight being occupied in the space of 18 months. With other deals in the pipeline, I suspect it will be full before the autumn.

The Courtyard is home to a mix of national and local occupiers attracted by Grade A specification ‘own front door’ offices ranged across two floors which tick three really important boxes. They are well-presented, giving a professional appearance, they are a cost-effective way of getting a freehold property asset, and their location next to Junction 28 of the M1 means enormous regional and national markets are within easy reach.

This is why these occupiers – the likes of Genco Developments, Optima Design, Purpose Media and Coldharbour Marine – have moved to The Courtyard from previous locations within a three to five mile radius.

Buying freeholds at a site like this is an astute move. Transactions have taken place at a time when the price is right, and the arrival nearby of some major developments at Clowes Developments’ Castlewood site means that the area around Junction 28 is really taking off as a commercial location.

Not that it hasn’t been popular before. Nix’s Hill nearby in Alfreton has been a popular commercial site for some time, and it’s here that Clowes developed the seven-unit Key Point office scheme. Like The Courtyard, progress over the past few months has been rapid: it has gone from only two occupiers to being full in the space of a few short months. The deals here are very competitive leases, and occupiers such as Images Publishing, Water Equipment International and Stancliffe Stone have been attracted by flexible terms and units which are well-presented and ready to occupy.

Just to underline the point, we have been seeing similarly positive signs across the border just a few mils away in Mansfield. There, the 43 acre mixed use Sherwood Oaks development, run by Regal Sherwood Oaks, has seen two out of three units in a new development fill rapidly. Why? The same reasons as The Courtyard and Key Point: well-presented buildings in a great location next to roads which put the region on your doorstep.

Three years ago, these three locations were almost empty. Here we are in summer 2013 and they are on the verge of full occupation, with some well-run SME businesses making astute decisions to buy or lease as the market is beginning to pick up.

If Derbyshire & Nottinghamshire Chamber’s of Commerce’s latest Quarterly Economic Survey isn’t just a flash-in-the pan, we are going to see more businesses finally deciding that now is the time to take the plunge and break free from space or layout constraints that have been holding them back and move to something new.

As ever, the problem is going to be that demand could well outstrip supply, a problem that has been exacerbated in recent years because developers were unwilling to risk speculative development in a weak economic climate.

The signs are that it’s not so weak anymore. So will someone take the plunge and put a spade in the ground? If they do, that’s the point when we can safely say economic recovery has finally arrived in Derbyshire.

END

Acting on behalf of Shakespeares LLP, FHP Property Consultants have confirmed that they have negotiated the acquisition of new offices for one of the Midlands largest Law Firms at Colton Square in Leicester which was developed by Global Integrated Property Group, Goodman.

Shakespeares LLP have acquired the third floor which provides approximately 12,500ft² of offices in an open plan format.

John Proctor of FHP who handled the negotiations on behalf of Shakespeares confirmed:-

“We chose Colton Square as it offers, in our view, the best specification and appropriate address for Shakespeares to base their Leicester offer following their merger with Harvey Ingram and Marrons Solicitors in a highly prominent position in close proximity to Leicester’s Railway Station and within the heart of the Leicester City Centre”.

Stephen Wolfe of Shakespeares confirmed:-

“Our move to Colton Square is the dawn of a new era for us in leicester where we have been in business for more than 200 years.  The move to one of the best business locations within the City underlines Shakespeares’ commitment to excellent Client care and to developing its people.  As the largest Law Firm in Leicester and the second largest across the Midlands we cannot wait to move in and start serving our Clients from Colton Square”.

Goodman owns, develops and manages Colton Square and James Raven, Development Director of Goodman UK Business Parks, confirmed:-

“Colton Square offers a unique opportunity for corporates and professionals to locate to the City’s most prestigious and effective commercial address.  As this letting demonstrates it is a testament to the dynamic development and strategic location in the heart of a local community that Colton Square continues to prosper. The addition of Shakespeares further enhances the customer community at Colton Square and we look forward to welcoming their staff to our scheme”

Colton Square is a cornerstone of Leicester’s dramatic business quarter renaissance providing a Grade A two building office scheme which retained the listed former Police Station on Charles Street developing striking high profile contemporary office space behind and adjacent to this element.  The scheme is located within a two minute walk of the Leicester Railway Station which provides a regular service to London.  Current Tenants within the scheme include Cooper Parry, Freeth Cartwright, Berkeley Insurance and Hayes.

THERE’S no question that the plans for a Creative Quarter in Nottingham represent a major opportunity to develop the city centre economy. This is more than just a fashionable badge. There are multi-million investment funds available to creative businesses which can show how they’ll grow, support for training, and talk of business rate incentives.

And all of it managed by a Creative Quarter company which is there to help businesses succeed.

Perhaps most significant of all, the area covered by the Creative Quarter – the Lace Market, Hockley and the areas adjoining them – can lay claim to a creative heritage, all the way from historic lace-making through to the presence of digital media, film and TV, architects and engineers today.

So, time for landlords to dust off those vacant offices and open the doors again? Not quite: the key to accommodating creative businesses and the services that support them is in having the right kind of offices available.

It’s often said that small, creative companies – especially those in the tech sector – aren’t too fussy about the environment they work in.

That’s not quite right. True, traditional corporate offices are not their style… but neither are suspended ceilings, chipboard partitions, strip lights and contract carpeting. They need simple but stylish rather than basic and cheap.

When creative companies say they don’t mind working in an old building that’s exactly what they mean: character, heritage, with a stripped-out environment typically characterised by exposed brickwork, beams, Victorian pipe-work and wood floors.

But that must be accompanied by excellent technological infrastructure: fast and robust broadband and telephony, good lighting that helps create the right atmosphere, carefully chosen colours. Stripping out the boards, partitions, ceilings and carpets that have defined your average office for years may go against the grain for some landlords.

But the signs are that this approach could be key for some of the businesses who like the look of Hockley and the Lace Market.

For evidence, look no further than the brave step Spenbeck director Victoria Stevenson took with the Courtyard, the old mill on the corner of Broadway and St Mary’s Street.

Mothballing the building rather than investing in it would have been entirely understandable in the current climate, but our market intelligence told us that the demand was out there – provided the office environment was right.

Armed with our advice, Spenbeck took the plunge and brought the building back to life in a way that brought out its character but delivered state-of-the-art infrastructure, period features combined with a dedicated fibre optic line.

The result? Leases on six of the suites in the building involving four tenants. We shouldn’t be surprised, though – Spenbeck has been active in the Lace Market for years and understands how it works.

The digital agency Distinction, insurance data firm Insurance Initiatives, ticket agent Gigantic and recruitment firm EMEA are among a number of lettings in the Creative Quarter recently.  Others include Tank PR, T3 Retail and Flame Healthcare.

Some are businesses who have been biding time in serviced offices nearby, others have moved in from outside the city.

Another opportunity for these businesses is coming on to the market in the shape of 4 George Street, in Hockley. It has been undergoing a full-scale refurbishment and will offer up to 5,000 sq ft to creative businesses looking to take their next step on the property ladder.

My feeling is that there is going to be plenty of competition for the space in this well-located building.

Why? Some small but encouraging signs of economic confidence are emerging. Our view is that the demand is there, with a number of growing businesses probably ticking over on monthly agreements in what are, for them, workmanlike but pretty sterile environments.

These businesses won’t spend fortunes on statement buildings, but they will be attracted by a simple, character property which they can put their own stamp on.

The challenge the Creative Quarter faces at the moment is that there’s a mismatch between what occupiers want and the property available.

There are plenty of buildings which tick the character box, but too many traditional interiors. That might make for a low rent, but our experience is that this isn’t enough for a creative business. Stripping out a building and lettings the character and period features speak for themselves is probably a better bet.

The Creative Quarter initiative has the capacity to be something big for Nottingham.  But it needs to send out a clear message about who it wants to attract and how it’s going to support them. When that happens we could get very busy indeed.

Mark Tomlinson is a surveyor with the Nottingham property consultancy FHP

END

FHP Property Consultants along with joint agents Innes England are delighted to confirm the sale of Unit 2 Poplars Court to Aquinas Education in a deal that sees them move into their bespoke fitted offices.

Aquinas Education is a unique recruitment agency in the educational sector. They specialise in sourcing and supplying supply teachers on both a regional and national basis. Alongside Aquinas Education is Aquinas Foundation, a charity whose aim is to help lower truancy, raise attainment within schools and tackle the associated problems that stem from these issues such as crime and illiteracy. Aquinas was originally set up by Premier League footballer Jermaine Jenas with the overall ambition of showing children that they can achieve and do well through education.

Craig Anderson from Aquinas commented:

“The offices ticked all our boxes straight away.  They are in a good location for us to get out and about around the schools in Nottingham but also across the UK.

The fit out is also fantastic, really eye catching I think we are going to be really happy here.”

Jermaine Jenas of Aquinas commented:

“I’m extremely happy with the new offices, the quality of the fit out work is brilliant and I believe it will help Aquinas push onto the next level and continue the great work we have already carried out with schools and children locally and nationwide”

The office has been purchased to provide head offices to both Aquinas Education and Aquinas Foundation. As part of the sale the offices have been fitted out to Aquinas’ exact requirements with three fully glazed offices and a meeting room with bespoke finishes giving these already modern offices a real wow factor.  The fit out has been designed and managed by the developers Sladen Estates prior to the completion of the sale which means that Aquinas can move into their offices completely hassle free.

Matt Sladen of Sladen Estates commented:

“We are delighted to welcome Aquinas as the latest occupier at Poplars Court. We believe that our ability to source and manage the build from start to finish is incredibly appealing for the purchaser as it means that on completion of the sale they can move into a bespoke fully fitted office hassle free.”

James Hartley from FHP commented:

“Poplars Court has always attracted attention from purchasers and in particular owner occupiers who are attracted to the high specification that has been designed into the scheme.  When you add to this the fit out design and build service it is a hassle free way to have your new offices.  We now only have three offices remaining on the scheme with good interest in these units. 

Not only are they built to a high specification but they are also well located both for access to Nottingham City Centre but also wider Nottinghamshire and beyond via the Nottingham Ring Road.  This will only improve once the tram works are complete as the new line will pass the office development with a tram stop a short walk away.”

For further information on this sale or how we can help you please contact the team on 0115 9507577.

FHP Property Consultants are delighted to confirm the letting of 1 East Circus Street located in the Professional Quarter of Nottingham City Centre to Momo Leisure Limited, the company behind various comedy clubs including Jongleurs.

Mark Tomlinson of FHP Property Consultants commented:- 

“I am delighted to have achieved this letting on this property given the continued difficulty we are experiencing in the office market at this time. I have spoken about this location on a number of occasions before and genuinely believe the location offers a perfect mix of good quality office accommodation with excellent local amenities located not far from the Market Square. Properties in this location also offer good levels of car parking compared with those elsewhere in the City Centre.”