T3 Retail Design, a retail shop fit out design company, have recently secured new offices on Stoney Street in The Lace Market area of Nottingham City Centre. The area which has been recently dubbed ‘The Creative Quarter’ by Nottingham’s city deal initiative – designed to be ‘an incubator without walls’ for local creative businesses.

Moving from Oxton in the East of Nottinghamshire this move represents both an expansion and a step forwards for T3 in terms of recruitment and networking capabilities, Chris Jones Managing Director of T3 Retail Design commented:-

“After several years of growth, the business was ready for a move to larger premises, to provide a better location for our retail design and building surveying business and FHP helped us through that journey, helping us to find exactly what we wanted.

The Lace Market has an energy and vibrancy about it that we here at T3 really wanted to be part of.

The move has provided us with a much larger office with fantastic transport links, better internet connectivity and an amazing central location that the T3 Team have really taken to.

The Team have very quickly settled in to life in Nottingham’s Creative Quarter and we are all delighted with the move.”

The buildings at 19 and 21 Stoney Street were refurbished with exactly this type of creative company in mind, revealing the original features of these former mill buildings to create ‘Loft Style’ accommodation while still retaining a modern office fit out.

Mark Tomlinson, Surveyor at FHP Property Consultants who advised the Landlords in the letting said:

“I am delighted to have let the final suite within these buildings to T3 Retail Design, who I am sure will benefit greatly from the opportunities which this area of the city has to offer.

About 18 months ago now I walked around The Lace Market with another company looking to move from the fairly sterile environment of serviced office accommodation to more inspiring ‘Loft Style’ accommodation befitting creative companies. It was apparent that anything of this ilk was available at the time so a refurbishment was put together to suit their requirements.”

Since then, having speculatively refurbished the remaining vacant areas of the buildings FHP have let 3 suites to Tank PR, Flame Health and now T3 Retail Design – all of whom appreciate the more utilitarian feel of the fit out.

Mark Tomlinson added:-

“The levels of demand experienced on these buildings gave us the confidence to recommend a similar refurbishment scheme on ‘The Courtyard’ on the corner of St Mary’s Gate and Broadway in The Lace Market. This has also proved a major success story. I believe that there remains and will remain an underlying demand for good quality accommodation in this area going forwards, especially given the ‘Creative Quarter’ drive. The question is, who will be next to provide the correct accommodation?”

FHP acting on behalf of BYG Systems Limited, a leading supplier of bespoke e-learning courses and software for Global Organisations, have acquired additional offices to accommodate BYG’s further expansion at Highfields Science Park.

BYG, who have been a tenant at Highfields Science Park since 1984, are growing rapidly with the growth coming in particular from Europe with expansion plans for the Far East.  

The new premises were acquired on a 3 year lease with a 12-month break clause to facilitate a longer term relocation of BYG Systems Limited.

Dr Yong, the founder of BYG Systems, said: “We are delighted to work closely with FHP who support us in our plans for expansion.  The Company has released a further 40 Graduate positions for the coming 12 months”

FHP acted on behalf of BYG, with heb acting on behalf of Nottingham City Council, the landlord.

BIG numbers have meant a big deal to a Nottingham property consultancy after it was named most active agent in Nottinghamshire and Derbyshire by the industry ‘bible’.

FHP, based on Oxford Street in the city’s traditional professional quarter, completed more than 400 transactions across the region last year, securing £100 million in sales and more than £20 million in rental income for a range of commercial property clients. 

Now the firm, run by David Hargreaves and John Proctor, has been crowned Most Active Agent in the two counties by the industry magazine Estates Gazette, the award based on the number of commercial property transactions completed in 2012 and the first quarter of 2013.

There was also a second individual award on the trot for surveyor Mark Tomlinson, who works in an office and industrial team at FHP which has been involved in some of the most high-profile transactions in the region 

Tomlinson was named ‘2013 Most Active Deal Maker’ in Nottinghamshire for the second year running following a previous award in 2012.

He said: “I am delighted to be named Most Active Deal Maker for the second year running. These are challenging times in the commercial property market and last year was no exception but there is certainly some positive activity in the market to shout about.” 

While FHP notched up a series of landmark deals, among them massive warehouse lettings to Marks & Spencer and Co-operative Group on behalf of industry giant Clowes Developments, Tomlinson says he has also seen growth in demand from small to medium-sized occupiers in Nottingham.

“Certainly we are seeing that demand at the smaller end of the market from SMEs has increased on previous years in the city” he said. 

“This is evidenced by the Nottingham Office Forum Market Review figures which highlighted that 60 per cent of office transactions in the city core were on buildings under 3,000 sq ft.”

He added: “We are also experiencing increased levels of demand for industrial property, which is the stronger market at this time with more positive levels of demand from manufacturers, motor trade, distribution and trade counter operators.”

“These awards from Estates Gazette are a testament to the strength of the multi-disciplinary team at FHP, which enables us to offer experienced, specialist advice in all the major areas of the commercial property market, whether it is to developers, occupiers or investors.”

A former mill building in the heart of Nottingham’s Lace Market has been transformed into a new thriving centre of business, thanks to the combined efforts of developer Spenbeck Ltd, law firm Rothera Dowson and property consultant FHP.

Over the past year Spenbeck Ltd has transformed the rundown building on the corner of Broadway and St Mary’s Gate, creating The Courtyard complex, which offers over 14,000 sq ft of office space. With the help of both Rothera Dowson and FHP, leases have now been completed on six suites for four different tenants.

Amongst the first to move in was Distinction, a digital agency specialising in online marketing, creative services and web design and development.

“We actually started looking for offices two years ago, but the timing wasn’t right and it was hard to know when to leave the comfort of a serviced office,” commented James Bloor of Distinction. “When we looked around The Courtyard, we knew it would be the perfect home for our business.

“The landlord and letting agent included us throughout the refurbishment process, allowing us to select our own flooring, kitchen layout and even painting a feature wall in shocking pink to match our brand identity.

“The end result is an office that we are genuinely excited to work from and proud to bring clients to.”

Other new tenants are Insurance Initiatives Ltd, which has taken 2,800 sq ft of space and ticket industry specialist Gigantic, covering 1,700 sq ft. Boutique recruitment agency EMEA Recruitment has also taken 1,700 sq ft of space. They join two existing tenants that already had offices in the building prior to redevelopment.

The sympathetic renovation of the listed building has created a blend of the old and new, combing period features with everything needed to meet the requirements of a modern office. This includes a secure entry system, a private courtyard entrance and a dedicated fibre optic line, meaning uncontended broadband can be up and running at the flick of a switch.

For Victoria Stevenson, director of Spenbeck Ltd, The Courtyard project has been a leap of faith:

“If we had listened to some of the stories surrounding the commercial property sector, we wouldn’t have touched the building at all. It would have been simply mothballed for future development.

“After reviewing market trends from FHP focussing on the Lace Market, we felt confident that the scheme had potential. The fact that interest has been so high and companies are already using the space, shows that we were right to have faith in our conviction.”

Rothera Dowson, also based in the Lace Market, handled all of the legal aspects of the leases. Tom Redgate, partner at the firm and commercial property specialist, believes that The Courtyard’s success is a sign of things to come for the area:

“With the Lace Market becoming Nottingham’s Creative Quarter, businesses, particularly those of a creative nature, are keen to get involved as early as possible.

“It’s no secret that the market had reduced to a slow pace over the past few years. Developments like this, coupled with the fact that many companies are now starting to enjoy signs of growth once again, creates a more positive outlook. It shows the power of well planned and marketed office space in the city.”

James Hartley, associated director of FHP, added:

“The scheme has been a breath of fresh air. Tenants are being drawn to the space by fantastic presentation and the overall quality of the refurbishment. We’ve been involved in this project from the very beginning and it’s rewarding to see that the building is reaching its full potential and helping businesses to thrive and develop.”

After such a positive start to the scheme, just 1,700 sq ft of space now remains within the original office development, with interest strong. Spenbeck Ltd is now embarking on the redevelopment of a nightclub, with a 2,700 sq ft pre let enabling the work to start.

A year on from the implementation of the Workplace Parking Levy JAMES HARTLEY assesses the impact it has had on the Nottinghamshire office market.

Work continues apace on the expansion of Nottingham’s tram network. May be you see it as an incredible feat of civil engineering and a welcome, £570m boost to the local economy. Or maybe, if you’re a commuter or a hard-pressed shopkeeper in Beeston, you think road closures are a headache you could do without.

Shopkeepers aren’t the only businesses who’ve felt the impact of this enormous project. Around a year ago, bills started landing on the doormats of city businesses demanding payment of yet another tax: the Workplace Parking Levy. The levy, which you have to cough up for if your business has more than 10 parking spaces, is one of the ways business is paying for the project. There have been plenty of grumbles from companies about the cost, which couldn’t have come at a worse time. But what effect has it really had on the office market in the city?

On the face of it, very little. According to figures from the Nottingham Office Forum the amount of space transacted in 2012 was pretty much the same as 2011. But I don’t think there’s a single commercial property agent out there who would argue that it has had no impact – and there’s another story underneath these apparently reassuring numbers.

In particular, I’d point to the ‘leakage’ of businesses from the city into Rushcliffe, which has been best-placed to benefit from the impact of the WPL. Last year, FHP alone let more than 20,000 sq ft of space to companies moving out of the city from prestige locations like the NG2 Business Park and Castlebridge Office Village. Let’s be clear – these parks are fundamentally strong locations which major occupiers looking for a city address are always going to favour. But for us to see this scale of activity outside the city raises professional alarm bells. 

You can also argue that the quality of the space they are moving to in Rushcliffe is an attraction in itself. But we know from the conversations we’ve had with companies who have made the move that the levy DID play a part in their decision. They have been able to move into locations like The Point, Wheatcroft Business Park, Apex Court and Ruddington Fields, not pay the WPL, and still have the city on their doorstep.

On top of that, there have been other deals where companies already based in places like West Bridgford or Ruddington where they have been unwilling to relocate from south of the river. This has led to 4,500 sq ft and 1,500 sq ft lettings at Grove House in West Bridgford town centre and similar-size deals at Ergo House on Ruddington Fields Business Park. I’m pretty sure that one of the reasons these businesses decided not to cross Trent Bridge was the prospect of paying the levy.

More explicitly, I’ve had instructions from clients wanting me to find space for them to specifically “prioritise options outside the levy”. On one of these searches, the client considered moving from Junction 26 of the M1 to Junction 27. Perhaps it’s just coincidence, but FHP concluded 34,000 sq ft worth of deals at Junction 27 last year in two transactions (though a lack of this kind of space in the city must also have played a part).

Nevertheless, an historic lack of activity in this area does suggest footloose companies are now willing to move further afield from Nottingham than they might have done before so that they can get the premises they want without paying an extra tax on location. One firm we have been involved with moved from Lenton to Pride Park in Derby partly because they were keen to avoid an extra levy at a time when they have been trying to reduce costs.

When you stand back from individual deals and look at activity levels in Nottingham city centre, the transactions are happening and the interest is holding firm. But over the past 12 months there has been a real lull in activity involving premises between 5,000 sq ft and 20,000 sq ft – previously the mainstay of the market. This could be due to the subdued economy, but I also think that it is businesses who occupy premises like these are the ones who’ve been hit the hardest by the WPL: they are more likely to incur the cost through parking spaces, but probably find these marginal costs much harder to swallow because of their size.

A year on from the introduction of the WPL, where does this leave us? There is much to admire in having an efficient, reliable mass transit system – it’s certainly brought jobs to the area during the construction phase. The WPL is not going to go away, and it seems to me that the City Council is set on it as an income generator. So it’s a fact of life. 

What looks like it’s also a fact of life is that locations on the fringe of the WPL area with good quality property now find themselves in a much more favourable position. My view is that the immediate impact on demand within the WPL zone will ease because of the quality of the stock in the area, improving public transport and, unfortunately, the harsh reality of reduced rents and asking prices.

Right now, businesses remain unhappy about the WPL. The sentiment we pick up is that it is another reason for existing occupiers in the city to feel unloved by the City Council. One day business may come to appreciate the tram network. For now, it is a financial burden which brings no return. And it couldn’t have come at a worse time.

Acting on behalf of Telereal Trillium FHP property consultants have secured the sale of the 21,000ft² office and former Job Centre on David Lane in Basford.

Prior to FHP’s involvement the offices had been on the market in excess of 18 months but following the instruction of FHP the offices were under offer within 4 months.

James Hartley, Associate Director at FHP, commented:

“When we were first asked to look at the property it excited us.  Okay it is not in a fantastic location but it did sit in a prominent position within Basford on a busy road and had its own tram stop.  Rather than let the enquiries come to us we explored numerous different avenues and different uses from retail to residential any conversion really that could benefit from the positioning.  This involved all the agency departments within FHP from the FHP Living residential team through to retail and development.

It was while we were going through our old requirements that we came across the eventual purchaser.  They had an office owner occupier enquiry in the market dating back 6 months and we knew they had not found themselves a home as yet and once we approached them about the property it seemed to be an ideal fit.”

The deal itself took a long time to complete due to a number of differing factors but to achieve a sale of what on the face of it looked to be a difficult building is hugely satisfying particularly when you look back at the team work within FHP and the fact that putting in the research and hard work upfront resulted in gaining interest so quickly.

In March 2012 I wrote an article called ‘A Polished Pearl Waiting to be Discovered in Nottingham City Centre’ and I am pleased to announce that in less than 8 months we have managed to fill the building.  All four vacant floors are now let to three tenants.

I would like to say that this is purely down to good agency work and I would be lying if I did not say the team at FHP worked hard on this.  I would however, not be giving the property and clients themselves enough credit. 

The quality of space and presentation of the building has helped entice occupiers.  Some of them initially needed persuading to view having previously seen the space years before in an unrefurbished condition, but once in, the offices sold themselves. 

The first letting was on the Seventh Floor to Turner Townsend who were relocating from Lock House in the City Centre.  This was quickly followed by The Press Association and then more recently Direct Health, both of whom have moved into the building from period buildings.

It would have been easy for the landlords, Development Securities, to have listened to the bad press surrounding the office market, looked at the results on their other office schemes and taken a conservative approach to the space.  If they had done I am sure we would not have secured these lettings.  Thankfully they did not and instead embarked on a first class transformation which is hard not to be impressed by.  The reception and offices have been transformed leaving a positive lasting impression on people viewing the space. 

The Pearl is not the only beacon on light that we can report on within the office market in the Lace Market.  With good quality space starting to run at a premium within Nottingham we have seen this success story repeated elsewhere in the City.

We have had overwhelming success on Broadway, a former Mill building that we are marketing for local landlords Spenbeck.

We met with Spenbeck in March 2012.  Our advice was that they had two options for this building.  Firstly effectively leave the building as is and mothball it, or secondly, do a top class refurbishment and give themselves the best chance of letting the space.

Again, thankfully they listened and 8 months later we have let six suites in the building to four different tenants and are now embarking on a second phase of refurbishment elsewhere within the impressive former mill building.  This success has exceeded our expectation and this is in no small part due to the excellent refurbishment and lack of quality competing stock available. 

All the tenants that have been attracted to the building are existing Lace Market or surrounding occupiers who currently occupy serviced offices and want to make the step up in terms quality space but not leave the area. 

The feedback has been that Broadway is comfortably standing apart from the competition at the moment due to its high class sympathetic refurbishment that marketing modern day offices need with the period features of the building.

James Hartley, who is dealing with both The Pearl and Broadway commented as follows:

“The East Midlands office market is at a tipping point at the moment as much of the   high quality stock has slowly been occupied over the last few years.  With little or no   new development on the immediate horizon there is becoming a severe shortage of well presented high quality space.

Occupiers that are moving are tending to look for quality or an upgrade in the quality of space whilst capitalising on the current market conditions to not increase or minimise the income in rent paid on their new space. 

This means that in order for landlords to maximise performance of their offices a refurbishment in many cases is a must.  This work should also be carried out if possible when bringing the space to the market as it is not always easy for potential tenants to visualise finished space so they will often opt for an office that is finished and ready to go.”

Mark Tomlinson of FHP Property Consultants talks about the office market in the Professional Quarter of Nottingham City Centre.

2012 Stats and Facts

•   Transactions outstripped new supply by 50%

•   There is 20% less space available in the area than this time last year

•   Just under 30,000 sq ft of office take up in the area in the year

•   FHP completed 13 transactions totalling 20,000 sq ft

For decades this quiet corner of the city has been established as Nottingham’s traditional Professional Quarter, with the area bordered by Park Row, The Ropewalk and Derby Road occupied by accountants, law firms, private clinics and a range of property and development businesses. The location is discreet, and the buildings prominent without being ostentatious.

2012 was a good year for this area of the city, with plenty of activity to shout about. We have welcomed a whole host of new tenants to the area such as EVS Translations, Rizk McCay, Wallwood Independent, Clearwater Corporate Finance and PAM Group to name a few. At the start of the year the landscape on Regent Street was one of imposing buildings hidden behind an array of marketing boards which can give the wrong impression of what a desirable area this is, it had become almost an assumption for many local businesses that this area was out of reach financially – but this is not the case.

In an area surrounded by amenities ranging from the established Hart’s Restaurant and Cast Deli through to the recently-opened Browns Brasserie and being just a couple of minutes’ walk from the City Centre, prospective tenants have been surprised by what they can now get for their money following a softening in rents and incentive packages offered by landlords. As a result, vacancy levels have decreased despite buildings coming to the market following recent moves by Roythornes Solicitors, Potter Clarkson Patent Attorneys and Curtins Consulting.

Out of the recent activity in the area there is something which all of the successful landlords have in common in this market – the requirement to refurbish and modernise buildings to provide an attractive and easily occupiable solution for tenants. If you are a landlord then you have to stack the odds in your favour as, although there is some positive activity in the market, enquiry levels remain suppressed and there is still a selection of buildings for prospective tenants to choose from.

From a freehold perspective this area remains one of Nottingham’s front runners. Although values have dropped since the hazy days of 5 years ago, they have remained strong, driven by a lack of supply and an underlying demand for freehold opportunities in this area which are seen as a secure investment with good flexibility on alternative uses. This is especially the case for owner occupiers who tend to pay a premium over investors in this area. Many would be purchasers, however, are hamstrung by the lack of availability of finance which I feel is hampering freehold values still.

So, looking forward to 2013?

The outlook remains the same still with plenty of available opportunities for enquirers which are now perhaps of a better quality than those offered in previous years, owing to a change in mind-set of many landlords on the presentation of their properties. Tenants can expect to secure good quality accommodation on attractive rental packages, landlords should expect voids but should be comfortable that a good quality tenant can be found and vendors can achieve quick sales at strong levels compared to the previous few years.

FHP Property Consultants are delighted to announce the letting of 21 The Ropewalk located in the prestigious ‘Professional Quarter’ of Nottingham City Centre. The new occupier, Rizk McCay Limited, have bucked the market trend and expanded their operation from Mansfield Road to take this very well presented office property which sits well with their company image.

RizkMcCay is a highly creative design, marketing, advertising and branding agency delivering print, digital, exhibition and environmental designs both regionally and nationally, for clients such as Boots, Gleeds, Maber Willmott Dixon, CPW, Scape and FHP!

Helen Andrews, Director at Rizk McCay commented:-

“We are blessed with great clients who have continued to invest in their marketing and branding throughout the difficult trading conditions of recent years. We have completely outgrown our current studio and needed somewhere professional yet characterful.

Hopkins Solicitors, Gaskells and FHP worked together ensuring the process was very time-light from our perspective allowing us to continue focusing on our steadily growing business.”

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

“This letting marks yet another transaction for the ‘professional quarter’, which has had a very positive year in welcoming new occupiers.  Rizk McCay is a successful local company and I am delighted that they saw the business opportunities and the working lifestyle that this location has to offer. They are definitely a good addition to this area of the city.”

“21 The Ropewalk was refurbished throughout when the previous tenant vacated making it an easy and desirable option to potential occupiers – something which is of paramount importance for both landlords and tenants in this market.”

The neighbouring property is now being marketed ‘To Let’ – contact Mark Tomlinson for further information on 0115 9507577 or mark@fhp.co.uk.

COUNTRYWIDE, the biggest name in the UK property services market, has made a move of its own by relocating a key administrative and customer contact operation to one of the most prestigious and best-established business parks in the East Midlands.

The UK’s largest estate agency did not have far to go when expansion meant it needed to find a new location for the operation – it has switched from an existing base in Mansfield to a 20,000 sq ft standalone building at the Sherwood Business Park close to Junction 27 of the M1 at Annesley.

Nor did Countrywide need many removals vans when it made the move. For the building it has taken over was left in plug-and-go condition by its previous occupant, Homeserve, with furniture, partitioning and data installations meaning the new occupier could get an important business function up and running very quickly.

Countrywide, which trades through leading high street estate agencies such as Bairstow Eves, has moved into Sherwood Court on Sherwood Park in what is one of the largest office lettings in the East Midlands in recent months. The deal was concluded by John Proctor, of the Nottingham property consultancy FHP.

Brad Pitts, Project Manager at Countrywide, explained: “The administration and contact centre is a crucial function within our business, and an expanding one. We carried out an exhaustive search of the options available for relocation and Sherwood Court was the obvious choice. It suits our purposes well because it is a detached building on its own site, which means we have full control of our operations and we are operating from a modern and flexible office environment.”

Countrywide has taken a 10-year lease on the L-shaped building, which has an atrium entrance area and flexible workspace ranged around a central corridor. John Proctor, who acted for property investment syndicate landlords, says that the presence of fixtures and fittings proved decisive in Countrywide’s decision to select it as their home.

He commented: “The landlords fully recognised the value of the fit out which had been left in situ by Homeserve, and the fact that we were able to offer the building in plug-and-go condition was a key factor in Countrywide’s decision to choose this location.

“Countrywide is a market-leading business which clearly required a certain quality standard, and the detached nature of the building and the flexibility of the internal space also played an important part in their decision. But the way in which the landlords worked with Homeserve to ensure the building was left with not just furniture but a working data and telecoms installation meant we were able to show potential occupiers a fully functional building able to accommodate an open plan layout.

“While it’s true that many potential occupiers will think of doing their own fit-out, the way in which Sherwood Court was maintained and marketed after Homeserve’s departure suggests there is potential added value in keeping existing fixtures and fittings in place. It could mean a move being made quickly and fit-out costs being reduced.”

Brad Pitts added: “It was certainly immensely helpful for us to be in a position where the lead time for a substantial move was reduced. The logistics of moving this kind of operation can be complex, and the availability of not just furniture but data and telecoms infrastructure meant we were able to reduce our costs and ‘switch on’ the operation quickly.”

Sherwood Park is one of the most prominent strategic business locations on the M1 corridor in the East Midlands, and John Proctor says opportunities like that presented by Sherwood Court are becoming rare.

“While the market remains difficult, FHP has seen an upturn in interest in good quality office space in recent months,” he said. “However, finding this office space is not easy as funding challenges and caution among potential occupiers means nothing new is currently being built.

“The result is that those businesses who are looking to move or expand are focusing on good quality existing stock. This is the pattern we have seen play out during 2012, with Browne Jacobson taking vacant HMRC space at Castle Meadow, the Nottingham Post Media Group going to City Gate, the land Registry taking their building at Castle Wharf and TDX taking space at The Pod on Fletcher Gate.”

John Proctor concluded: “It is still a tenant’s market, but the balance between supply and demand is beginning to shift in a way that looks likely to lead to a strengthening in rental deals and a hardening in the terms offered by landlords. If we now see some sort of upturn in the economy the the market will have to start thinking about a new build programme.”

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

FHP Property Consultants are delighted to announce the sale of The Park Clinic at 36 Regent Street in the Professional Quarter of Nottingham City Centre.

The property comprises a four storey period building, which is occupied by a range of medical practices including Physiotherapy, Eye Clinic, Personal Training, Counselling, Cosmetic medicine, and Beauty therapy.

The building has been purchased by a local property investment partnership who are now in the process of agreeing new leases with all the existing occupiers, who continue to run their businesses from the clinic.

It’s business as usual for the successful Nottingham Park Clinic practices, whilst the building undergoes substantial and necessary renovations.

Mark Tomlinson of FHP Property Consultants, who are acted on behalf of the vendor commented:-

“A purchaser for this property was found within a very short space of time compared to most commercial properties on the market at this time. This highlights the demand for freehold opportunities in this location as we did receive quite a number of enquiries and undertook a number of viewings on the property prior to achieving a disposal.”

He added:-

“Over the last few years property values in this area have seen a decline but certainly not as significant as many properties in more secondary locations. There remains an underlying demand for property in this area given that it is well located and remains popular among medical, professional and residential occupiers. I expect to see value in the area slowly creeping up over the next year or so.”

FHP Property Consultants have now been instructed with Innes England to find further specialist clinics/consultants who require City Centre rooms.

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

Acting on behalf of Antler Sherwood Park (No 2) Unit Trust FHP are pleased to confirm that they have let 13,094ft² to Yusen Logistics (UK) Limited comprising part of the first floor of 1 Oakwood Court, Osier Drive, Sherwood Park.

Yusen have taken the premises on a five year lease with 64 car parking spaces and are fitting out the premises with a view to taking occupation in the new year.

The premises are being used as the UK Headquarters of Yusen Logistics who are relocating from their existing offices at Junction 28 of the M1.

John Proctor, who handled the letting on behalf of Antler, confirmed:-

“It is very pleasing to achieve a letting of this nature in a highly competitive market.  Over the past few months we have let in excess of 34,000ft² in the park following our recent letting at Sherwood Court to Countrywide.  Sherwood Park undoubtedly gives a potential occupier value for money by virtue of the competitive stock which is available”.

This letting means that there are only some 4,900ft² left in the building which is now being offered in the market.

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

FHP Property Consultants have been instructed to market a 5,000ft² office building which is currently under refurbishment in The Lace Market area of Nottingham City Centre. The property is a former gymnasium and is currently undergoing a substantial renovation to provide predominantly open plan modern office accommodation within a very attractive and well located period building. The property will comprise a double height entrance atrium fantastic for local businesses looking for increased presence in the city and a building to create an excellent impression to visitors.

The property will be available early in the new year following its refurbishment and will be brought to market either for sale or to let.

For further information please contact Mark Tomlinson at the FHP Nottingham office on 0115 8411134 or mark@fhp.co.uk.

James Hartley of FHP Property Consultants can confirm that he has completed the letting of the ground floor 989ft² office suite at Unit 16, The Triangle on behalf of Abbeyfield Estates to TSL Education.

James Hartley commented:

“The letting to TSL Education is an excellent letting for an office of this size to attract such a strong covenant is rare.  The office will house TSL’s new online department and they hope to expand rapidly in the space with an option over the first floor for the next 2 years.” 

This leaves FHP with only one office, No. 18 on NG2 Business Park which can accommodate lettings from 1,900ft² up to 3,800ft².

If you go down to the woods in Nottinghamshire today you’re in for a big surprise – they’ve been transformed into a sustainable home for business. The wood in question is Ransom Wood on the outskirts of Mansfield, which was once home to a hospital but has now been turned into one of the best-kept commercial property secrets in North Notts.

Ransom Wood Business Park is now home to a number of private and public sector organisations, who have taken advantage of a site which blends a countryside setting with state-of-the-art facilities and close proximity to major road networks. It has been developed under the guidance of the Cannon family, well-known in North Notts for their associations with Mansfield Sand but now devoted to the long-term growth of Ransom Wood.

James Cannon, MD of Ransom Wood Estates says that though the concept appears different to conventional business parks, it is grounded in a site which started with a number of inbuilt advantages. “It had buildings and a fully-developed infrastructure already on site because of its previous use,” he said. “What we have done is use those as the basis for our concept, which is that of a sustainable business location which is, in some ways, ahead of its time.

“We have refurbished existing property, developed new buildings and new facilities and we are now more than 80 per cent full at this stage of development. This has given us a strong community of organisations and businesses – but there is clearly potential for more. We have certainly got some ambitious targets for what this site can achieve for its tenants and as a sustainable site which sets new standards for its relationship with the environment, but the bottom line is that it works as a commercial location.”

The park, which is being marketed by surveyor Laura West from the Nottingham property consultancy FHP, is already home to a number of NHS organisations, a college’s admin nerve centre, specialist engineering businesses, marketing and media companies, a furnishing business, and IT and consulting companies.

Between them, Ransom Wood Business Park’s occupiers employ around 800 people across more than a dozen buildings.

It covers some 70 acres, has on-site support staff available round-the-clock and also features an on-site restaurant and conference centre in the shape of Forever Green, a standalone building which means businesses do not need to leave the site to entertain or hold meetings. Though a substantial amount of the site’s current space is fully occupied, its size means there is still a range of space available, from small units which would suit young businesses in their early stages through to new, open-plan offices with woodland views. Some are in refurbished buildings, others in new developments like The Willows.

Laura West said: “Ransom Wood is a genuinely unique location and that’s something you can’t say about so many business parks. The setting really is stunning – rural, quiet and beautifully managed, yet it’s right next to the Mansfield-Ashfield Regeneration Route, a road which links you to both the A1, the A38 and the M1. That puts a massive market on your doorstep.

“It also has some built-in advantages, with an infrastructure that has made it easy to deliver state-of-the-art services and an on-site restaurant where you can take clients and even hold meetings and conferences. In the Cannon family it also has an incredibly committed landlord. Ransom Wood simply wouldn’t be what it is without their vision and their passion for developing a site which is green in every sense of the word but still makes sense as a place to put your business.”

She says that one of the main reasons that businesses have chosen to come to Ransom Wood is the environment and the site’s self-contained convenience: “This is business with nature and that is just not available elsewhere. But it’s also practical – it’s easy to reach, you don’t have problems parking on site and all the facilities are here.”

Charles Cannon, a director of Ransom Wood Estates, added: “Environment can sometimes be a hard-sell for business, but not here – it comes built-in. We’re committed to meeting high environmental standards and we have a number of long-term ambitions to make the site sustainable – we’re even looking at ways of generating energy on site. We believe the environment is important here in another sense and that is in providing people with a great place to work. This is business, but it’s also business with nature.”

 ENDS

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

FHP Property Consultants are have confirm that Network expert Layer 3 has moved to No.1 Nottingham Science Park as part of growth plans.

The company has signed a five-year lease with Blueprint, developers of the iconic University Boulevard building.

Layer 3 recently increased the size of its team from five to nine and is now set to increase its workforce again within 12 months.

Only one suite remains unoccupied in the building, which is the centrepiece of Blueprint’s 12-acre Science Park extension.

Layer 3, which has leased 1,750 square feet, was attracted to its new location by the architectural design of the building, its Grade A office specification, and its ultra-fast fibre broadband connectivity.

Steve D’Arcy, Layer 3 Commercial Director, said:

“This is a much larger space, perfect for our growing business, and a landmark building. It looks good, it is in a great location and it has generated a great vibe for our business. The offices are visually appealing, which creates a positive atmosphere that our customers will love, and there was a good deal on the broadband too, which is an extra bonus.”

He added:

“There is a real sense of community among the tenants here, and it is great to be working alongside like-minded people, and I am already looking into doing some business with one of my neighbours.”

James Hartley of Property consultants FHP added:

“Having been involved with the sciene park for a number of years it is great to see the building evovling in terms of its tenant mix and the interacton between the companies that all seem to thrive together.

I think this letting to Layer 3 will be the latest example of this within the building and I am convinced that we will see them grow and develop during their time in the building.”

Blueprint Development Director, John Long, said:

“We’ve worked hard at Nottingham Science Park to develop a community of genuinely leading edge innovators – some of the best in the region. This latest letting to Layer 3 is good for the park, but more importantly it’s good for Nottingham. These businesses are creating sustainable and high quality jobs.”

FHP Property Consultants are delighted to announce the letting of No. 4 Russell Place on Talbot Street in Nottingham City Centre. The property comprises a self contained period office building within attractive landscaped gardens set between Talbot Street and Clarendon Street in the Professional Quarter of Nottingham City Centre. The property has been leased by Pam Group Limited, a national occupational health organisation who are expanding into Nottingham.

Jim Murphy, Managing Director of Pam Group commented:-

“Our new occupational health and wellbeing clinic at Russell Place will allow us to support the health and wellbeing of our clients and the employees of Nottingham and the East Midlands. We are delighted to have a Nottingham City Centre location where we will provide a full range of occupational health services including medicals, management advice, physiotherapy and counselling services.”

Mark Tomlinson of FHP Property Consultants added:-

“We were made aware that 3 buildings in Russell Place may be coming available following a lease expiry in September and this one seemed to work perfectly for Pam Group. It is rare to have self contained offices of this compact size in the City Centre on the market, with most of the options for this size requirement being within shared buildings. An occupational health organisation such as Pam Group, who provide medical consultancy, found that the location of the property, being just a stone’s throw away from the heart of the city, coupled with the self contained nature of the building, worked very well.

Our clients are now reviewing proposals for the refurbishment of the adjoining 2 properties, which are likely to become available to let in the next few weeks.”

The Russell Place estate is part of a commercial property portfolio managed by Trustees, and chartered surveyor Tim Harries of Tim Harries and Partners, asset manager to the trustees, commented:-

“Our clients are long-term investors, and the recent letting to Pam Group is an endorsement of the strategy to maximise returns from the Russell Place Estate by refurbishing these attractive buildings to appeal to the current market.”

FHP Property Consultants have recently secured a deal which sees UJS Hillel set up their latest base on Derby Road. UJS Hillel are a national Jewish student support organisation who provide a range of residential and non-residential support hubs to provide their members with facilities and resources to support their studies.

Mark Tomlinson, Surveyor at FHP Property Consultants commented:-

“The Union of Jewish Students had been looking for premises for some time, exploring various options and requirements over the last 2 years. Already having a base in Beeston this is an expansion of their existing offer and will provide a convenient centre for both their Nottingham University and Nottingham Trent University Student members.”

FHP Property Consultants are delighted to announce the sale of the self-contained office building at Unit 3 Edison Village on Nottingham’s Science Park.  The property was bought privately and the property will now be occupied by PR Power Installations Limited, a local building technology services provider.  Following positive expansion of their business they have taken this opportunity to expand into the Science Park.

Matt Russell, Director of PR Power Installations Limited commented:-

“We have been looking for opportunities to occupy premises in this location for some time and we jumped at the opportunity to occupy premises on the established and well regarded Science Park.  This move means we are now well placed to serve many of our clients in the close vicinity including Nottingham University and The Queens Medical Centre, among others”

Nick Corder, of Corder Commercial, who acted on behalf of the purchaser in agreeing the sale of this property commented:-

“We had a choice of potential units, but the Science Park location, the available car parking, and the extension of the tram system clinched the decision”

Unit 3, Edison Village comprises a self contained two storey office property extending 1,152ft² with good levels of onsite car parking within easy reach of the city centre, the ring road and the M1 Motorway.

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

“I am delighted that we have achieved a sale of this long leasehold interest within approximately 6 months of marketing, a very healthy time scale in the current market conditions. Although generally demand for office premises is suppressed I am pleased that there is still appetite among local investors to purchase property. Undoubtedly this is a sign of confidence returning to the market place, especially for properties in well established locations such as the Nottingham Science Park. I wish PR Power Installations Limited all the best with their expansion plans”.

FHP Property Consultants are delighted to announce the recent acquisition of 23 Royal Scott Road, Pride Park, Derby to Moduleo.

The hybrid unit which extends to 3,200ft² has been let by way of a new full repairing and insuring lease for six years.

Moduleo is a division of the IVC Group, a world class manufacturers of vinyl floor coverings, who specialise in the production of high quality modular synthetic floor ranges for residential and professional premises.  Their designs replicate the delicate patterns and textures of the natural world.

Investments in patented technology to produce coverings that are truly unique, Moduleo floors aim to inspire and satisfy the requirements of their most demanding customers.  Their designs are manufactured in a purpose built eco facility in Belgium, bringing the flooring market from the East back to the UK.

David Bigland the Managing Director of the UK and ERIE division commented:-

“We are delighted with our new premises on Pride Park as they offer an excellent space for us to expand our business. This could not have been possible without the help of George Dunnicliff of FHP Property Consultants who acted on our behalf to secure the letting. We look forward to the future in our new home.’’

George Dunnicliff of FHP Property Consultants who acquired the premises commented:-

“It was particularly pleasing to acquire and complete the letting of 23 Royal Scott Road to Moduleo, and to see an international flooring business move to Pride Park. I would like to wish David and his team the very best of luck for the future.”

For further information on Acquisition Services or office/industrial premises please feel free to contact George Dunnicliff on 01332 343222 or george@fhp.co.uk

FHP Property Consultants are delighted to announce the recent letting of second and third floors at 41 Cornmarket, Derby to The Royal Bank of Scotland.  The second and third floors extending to 2,922ft² have been let by way of a new five year lease.

RBS who already occupy the ground floor retail and first floor required further space for their expansion plans which the upper floor space provides the perfect answer to accommodate them.

George Dunnicliff of FHP Property Consultants who carried out the letting commented:-

“It is very pleasing to hear of the recent letting of the second and third floors at 41 Cornmarket to The Royal Bank of Scotland.   This letting shows that office space in the City Centre is still sought after.   I wish all of the team at RBS the very best of luck for the future.”

An exclusive personal training and sports performance facility is opening at Chapel Quarter in Nottingham City Centre, in a deal secured by FHP and Savills.

Owned by personal trainer and strength coach Mark Coles, M10 Fitness is moving in to Unit B3 of the much sought after Chapel Quarter development in Maid Marion Way.  The 5,500 sq ft unit is on the ground floor and is currently being transformed into a gym, ready for the opening of M10’s flagship facility at the end of September.

M10 is already an established brand in the county and Mark set up his first gym four years ago in Farndon Marina, Newark.  The gym has been hugely successful with five resident personal trainers, and attracts clients from across the Midlands. M10’s results have also been praised by national health and fitness magazines including Men’s Health.

M10 is not just a standard gym, it is a results based training system that coaches people through a life changing journey to achieving a body of their dreams. 

Mark says:

“Over the last four years, myself and my team of coaches have worked extremely hard to ensure we deliver some of the highest quality personal training and results available in the UK.  My sole purpose is the delivery of excellence.

The decision to create M10 Nottingham is something I have been planning for a long time. As a business we receive a lot of enquires from people living or working in the City.  Our current gym is located 20 miles away, which many find a little too far.  So once I found the available unit in Chapel Quarter, I knew immediately it was the perfect location in terms of size and potential reach, so I pressed on to make it happen.

My passion has always been to create high quality personal training facilities where results are the number one priority.  I strive to create a training environment that inspires everyone that enters to achieve their goals.  We are committed to helping every single one of our clients achieve their lifelong dream of being in their best shape of their lives and we will do whatever we can to help them achieve it.”

The gym is currently being completely re-furbished and will be fitted out with the highest quality of strength training equipment, male and female changing rooms, a two lane 22 metre sprint track, an infra-red sauna, a visiting consultant suite and two treatment rooms.

James Hartley of FHP acted for the landlord and secured the deal with Ian Muxlow of Savills, who acted for M10.

James said:

“Chapel Quarter is an iconic landmark building in the City.  It is already occupied by established firms including Holiday Inn Express, several bars and restaurants, plus a number of corporate firms. 

Fronting on to Maid Marian Way, the building takes advantage of excellent transport links including the Market Square and Theatre Royal tram stops, as well as a nearby multi story car park.

The unit ticked all the boxes for M10’s expansion plans into Nottingham, but most importantly it gave Mark the scope to contribute towards its refurbishment ensuring that the space will meet all the demands of a quality gym facility.”

Ian Muxlow from Savills said:

“M10 is not your average gym, and Mark had very specific requirements which he needed in order to meet his business needs.  Chapel Quarter gives them a high profile location within a landmark scheme, ideally placed to serve their target market.

The protracted negotiations we have structured have enabled us to secure very favourable terms on our client’s behalf.”

Jones Lang LaSalle acted as the joint agents with FHP to market the unit.

AN INTERNATIONAL translation company has moved into new premises in Nottingham city centre in a deal secured by property agents Innes England and FHP.

EVS Translations will be moving to Regent Street in the city centre as part of its programme of expansion.

The company, which has more than 100 in-house translators, proofreaders, project managers, DTP and IT experts across Europe and America, carries out over 20,000 translation and interpretation assignments each year.

With its head office in Germany, the UK hosts the largest international operation of EVS Translations Group. Other sites include Paris, France, Sofia, Bulgaria and Atlanta, USA, completing the group’s global reach. The UK branch of EVS Translations has now expanded its operation into much larger premises to manage its growth plans for the coming years.

Gregg Babbs, business development manager of EVS Translations, said: “We are very pleased to have found the right central location.

“We are one of the leading international translation companies in the UK market. Due to our continued success, we needed a larger office to house all of our existing employees, but also an office that can accommodate our growth.”

The beautiful Georgian building is Grade II listed and falls within the Canning Circus Conservation Area. Spanning across four floors, there’s plenty of office space, storage and kitchen facilities. The car park, which is accessed on nearby Oxford Street offers at least five parking spaces. But for those without cars, the property is a short walk from the city’s shopping centre and a range of public transport links. 

Giles Davis of Innes England said: “EVS Translations came to us looking for bigger premises with office facilities, but they were still keen to remain in the city.

“Regent Street is a fantastic location, with beautiful buildings, and with five parking spaces around the back of the property, it’s ideal for a business that needs to be in a professional environment with easy access for its clients.”

Mark Tomlinson of FHP Property Consultants, said: “This letting follows a number of leasehold transactions in this area resulting in a sharp reduction in availability, only three months ago there were five buildings available to let on Regent Street, and there is now only one.  The reason? These buildings, which were once out of the price range of many local occupiers, are now affordable to many and companies are finding that you can now get a lot for your money.”

FHP Property Consultants are delighted to announce the recent letting of 23 Barker Gate, an office property located opposite the ice stadium Nottingham’s Lace Market.  The premises have been let to Education and Youth Services Limited (EYS UK), a youth education and training organisation providing learning resources for a variety of age groups.

Following an increase in local contracts EYS UK required an expansion of their existing operations in the city and required self-contained premises close to the city centre, of which there are few options available at this time.

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

“This letting is one of 4 recent transactions totalling over 20,000 sq ft which have either been let or put under offer in the last month in the Lace Market alone.  This is undoubtedly a positive statistic for the area as vacancy rates have fallen fairly significantly as a result.”

“I am delighted to have completed this letting to EYS as they have been looking for suitable premises for some time in a variety of locations.  As well as being located a stone’s throw away from New College, this property ticks many of the boxes required for an educational establishment and I hope that the premises suits the requirements of EYS UK for many years to come.”

For some businesses, it used to be commercial property’s equivalent of things that dreams are made of. But changed market conditions mean an address near Nottingham Playhouse is no longer out of reach, says MARK TOMLINSON.

Elegant streets, period facades and front doors straight out of Downing Street… it sounds like the stuff of dreams for most professional businesses. And for a long time it was in Nottingham, with properties situated in the handsome terraced streets radiating out from Wellington Circus commanding some pretty handsome rents and freehold values.

For decades this quiet corner of the city has been established as Nottingham’s traditional professional quarter, with the area bordered by Park Row, The Ropewalk and Derby Road occupied by accountants, law firms, private clinics and a range of property and development businesses. The location is discreet, and the buildings prominent without being ostentatious.

It retains that sober, professional demeanour to this day. But the price that comes with exclusivity can sometimes work against you, and the immediate aftermath of the credit crunch saw vacancy rates and void periods for properties in the professional quarter start to rise as businesses which might once have looked at this location opted instead for office parks on the fringe of the city centre which offered Grade A accommodation and more flexible open plan accommodation.

Even in the good times, the period buildings in the professional quarter would have struggled to match the flexibility and specification of office parks. But they do offer something else, which is an upmarket environment surrounded by some excellent amenities, ranging from the established Hart’s restaurant and Cast Deli through to the recently-opened Browns Brasserie. Just a couple of minutes’ walk from the city centre, this is the long-established meeting place for the city’s professional services and much of the city’s business is done in these streets.

All the evidence is that much business is now being done in these streets again. In a classic demonstration of the economy rebalancing itself to bring price expectations back in tune with what the market can bear, there has been a correction in rental values in Nottingham’s professional quarter. The result? There have been 20 office transactions in the area during the last 12 months as small to medium-sized businesses, previously based in secondary locations and who thought a prestige address was out of reach, have realised one of the city’s most well-established location is both financially accessible and professionally viable.

Businesses now enjoying the benefits of the professional quarter include the investment research and representation business Hallbrook Partners, financial advisory firm Wallwood Independent, the international translation business EVS Translation, and The Yamaha Music School. All are benefiting from a prestige location and all the benefits that go with it.

Landlords who have accepted the rental correction which took place over the last three years now have less to worry about when it comes to assessing void periods. In fact, the main concern now is that the number of deals that have taken place over the past few months means there is now a shortage of supply.

While the majority of the movement in the professional quarter has been down to rental deals, buildings which have an enduring appeal mean there has always been regular demand for freehold opportunities. They are few and far between though, with many freeholders having little appetite to sell in suppressed market conditions. One of the few available at the moment is 36 Regent Street, it’s a rare opportunity for all sorts of reasons – a freehold detached period building which is high quality and has ample parking. We were instructed to take it to market only recently but the levels of interest have been predictably high, and with settled tenants in place this is an interesting investment opportunity.

The story of Nottingham’s professional quarter is the story of a truism: in the long run, quality always sells.

The UK’s largest supplier of staff to the further education sector is to move its headquarters to a landmark office development at West Bridgford in a deal secured by the office and industrial team at the Midlands property consultancies FHP and Innes England.

Protocol National, which has become the leading supplier of lecturers, assessors, verifiers and senior staff to colleges across the country, is to take more than 5,800 sq ft of space at The Point, a striking office complex on Loughborough Road, West Bridgford.

Protocol National’s arrival means that so far this year more than 11,500 sq ft of space at The Point has been let by joint agents FHP and Innes England.  Only two suites remain available at the new build office scheme.  James Hartley, associate director at FHP, says the deals reflect the increasing strength of West Bridgford as a business location, with high quality accommodation supported by good road links and excellent retail and leisure amenities.

He commented:

“Protocol National is a market leader in outsourced further education staffing and its decision to relocate its head office to The Point is a vote of confidence not just in The Point but in West Bridgford as a location generally.  During the past few months we have seen an increasing trend for businesses to consider sites in and around West Bridgford, which demonstrates that it has increasing professional appeal.”

Craig Straw of joint agents Innes England added:

“With the completion of this latest letting The Point is now 80% let reflecting the market’s preference for well designed and located premises.  With no commercial construction over recent years such opportunities are becoming increasingly scarce.”

Protocol National has moved its headquarters from a site in Nottingham, with two office suites at The Point merged to provide the business with 5,888 sq ft of high quality space.  It manages and coordinates the provision of more than 11,000 full and part-time staff every year for further education colleges across England, Wales and Scotland, providing an award-winning service to establishments looking for flexible staffing solutions.

Viv Cruickshank, Managing Director of Protocol National, commented:

“Professionalism and quality are the main priorities of Protocol National. The Point was, therefore, a perfect fit with the ethos of our company and the way in which we want to be perceived.  In coming to West Bridgford we are able to provide our staff with high quality offices with a professional appeal and presence, while still offering them vibrant facilities at a site still only minutes away from the city centre.”

James Hartley says lettings at The Point and other locations nearby point to both the high quality amenities available in West Bridgford and the appeal of sites which lie just beyond the zone which attracts a charge under the terms of Nottingham City Council’s Workplace Parking Levy.

“We have started to see a noticeable trend for people to examine options outside the WPL zone.  This is far from the only factor in these lettings, though.  Businesses are looking at locations like West Bridgford itself, Edwalton and Ruddington because edge-of-city sites are cost effective and because the calibre of the amenities is first class.  West Bridgford is an affluent suburb and the shops and restaurants reflect that.  These locations are still within easy reach of the city and all it has to offer, while the road links provide good access to the M1 motorway and the regional and national markets beyond.”

James Hartley added:

“Protocol National is currently engaged in the fit out of its new space at The Point and once the work is finished we will have a busy, thriving business location.  We now have only two suites remaining, offering 2,185 sq ft and 2,939 sq ft respectively, and we already have encouraging levels of interest in them.”

Adam Youatt, real estate partner at the Nottingham office of national law firm Gateley, acted for the landlord in the letting.  He said:

“This is the latest letting that we have advised on at The Point.  With its prime location, excellent transport links and competitive rents, it has fast become an appealing space for business.  With limited premium office space available in the City, The Point offers an excellent alternative.”

Evidence is emerging that some businesses are considering locating outside Nottingham City Centre as a result of the introduction of the City’s Workplace Parking Levy, according to the Midlands property consultancy FHP.

It says that some companies who are currently looking at moving are examining options outside the zone covered by the levy, which was introduced in April partly to help pay for the extension of Nottingham’s tram network with two new lines to Clifton and Chilwell.  James Hartley, of FHP’s office and industrial team, says that though the City Centre retains significant appeal for certain occupiers, some small to medium-sized companies for whom a central location is not crucial are now looking at locations like West Bridgford, Wilford and Ruddington.

James Hartley commented:

“No business likes additional costs, and the unfortunate fact is that though the WPL was planned sometime ago it has come into force at the worst possible moment.  Trading conditions remain extremely tough, businesses have been struggling with rising raw material prices and economic confidence is low.  The last thing they want is an additional cost and a change in location is one way to avoid it.

We shouldn’t lose sight of the fact that the City Centre remains a very attractive location for all sorts of reasons, including, of course, its good transport links, and some businesses are in a position to grin and bear the levy.  However, there has been a clear trend in some recent inquiries that FHP has been handling for occupiers to ask about locations outside the City in places where rents are lower and there is no levy to pay.”

In the past few months, FHP has handled a number of inquiries where occupiers who could have taken space in the City have instead decided to move to locations like Bournston Development’s striking The Point office complex in West Bridgford and The Apex Business Park in Wilford.

James Hartley said:

“Since April, we have seen a surge of deals in locations outside the City.  At The Point in West Bridgford we have seen approximately 11,000 sq ft of office transactions complete, with one of the occupiers moving from Castle Marina where they would have been facing an occupation cost increase in the region of £10,000-£15,000 a year, a figure which is set to increase annually.

We are seeing this trend repeated in a number of offices we market.  At Apex Business Park in Wilford we have 9,330 sq ft and 3,700 sq ft of space on Wheatcroft Business Park ‘under offer’ both to occupiers moving out of the City Centre.  You can also look at schemes such as Bradmore Business Park in Bunny where there is strong interest in two of the units. This scheme has been completed but empty for a number of years and is now starting to see interest increase.”

Hartley says that the appeal of these sites goes beyond their position outside the WPL zone.  He believes the widening of the A46 and the prospect of major improvement to the A453 is making high-quality out-of-city locations more viable, with the strength of the retail and leisure offer in places like West Bridgford providing attractive support facilities.

He added:

“I don’t believe that the WPL will prevent major occupiers from moving into Nottingham provided all the other key criteria they look at are satisfied. The City’s economy has distinctive strengths which will always stand it in good stead and, WPL aside, I think businesses are broadly supportive of the tram.

That said, the evidence I have seen in the last few months tells me that some SME businesses who are looking at expanding or relocating feel that the WPL may be one cost too many in the current economic climate.  Some are specifically asking us to prioritise options outside the WPL zone.  Fortunately, we have been able to demonstrate that there are some very strong alternatives available to them which offer the kind of business environment they are happy with at more cost-effective levels.”

AN EAST Midlands business which specialises in leading-edge information technology solutions has made a £325,000 investment in expansion at Nottingham Business Park.

Air-IT, which provides outsourced IT support and managed services to companies across the region, has purchased a second unit at Ash Tree Court, the high-quality office park built by regional developer Wilson Bowden next to Junction 26 of the M1 motorway.

Though Air-IT was formed in only 2005 by Todd McQuilkin, it has seen rapid growth in demand for its customer-focused expertise, and has been looking to expand its operation for some time. In a deal secured by James Hartley, of the Nottingham property consultancy FHP, it has purchased 2,000 sq ft of adjoining office space at a site whose excellent transport links mean it has the region on its doorstep.

Air-IT will use the new space to extend its portfolio of tailored IT services, which range from increasingly popular ‘cloud’ computing and virtualisation solutions to IT installations and managed support. Its client base already includes a raft of respected businesses, including Skills Motor Coaches, Future Health Technologies, Eden Day Spa, RH Commercials and Price & Buckland.

Air-IT will use the first floor of the new property to expand its existing operations, with additional office space and a purpose-built technology suite where tailored training programmes can be delivered for customers. The move will allow the company’s Help Desk Department – a central feature of its service – to expand across the ground floor of the existing premises.

The 1,000 sq ft ground-floor of the new unit will be offered for rental as a fully-serviced office which combines a self-contained open plan environment with facilities which include leading edge IT infrastructure and telecommunications facilities, kitchen, toilet and dedicated parking.

Todd McQuilkin, Air-IT’s Managing director, commented: “We needed to expand our operations to meet the growing demands of our ever-increasing client base and required additional floor space to do so. We are delighted to acquire the neighbouring building, which means we can roll out our expansion plans seamlessly and continue to offer clients the best possible support and guidance with their business technology needs.”

Ash Tree Court adjoins the wider Nottingham Business Park development, which is home to a number of blue chip occupiers. It is less than a mile from Junction 26 of the M1 and close to the A610, which gives direct access to Nottingham city centre. Air-IT’s purchase of additional space at Ash Tree Court leaves only three units still available. James Hartley says there are sound reasons why the remaining space could be snapped up in the coming months.

He commented: “Air-IT is a smart business which operates in a dynamic environment where people look for tailored solutions. Ash Tree Court was clearly tailor-made for them, not least because of its excellent IT infrastructure and its proximity to the ring road and the M1, which means it is easy to serve customers in both Nottingham city centre and the wider East Midlands.

“Their decision to purchase the freehold of an additional unit is also a sign of the times, with increasing numbers of compact units aimed at owner occupiers being bought by businesses who see investment in a property asset as simple common sense in the current financial climate – with interest rates stuck at historic lows for the foreseeable future, the potential double-figure returns on a property will comfortably outstrip what their money might earn in a bank.”

James Hartley added: “It was particularly satisfying to conclude a deal based on the expansion of a young, dynamic business. It’s a testament to the quality of Ash Tree Court that Air-IT chose to stay and expand here when there were plenty of alternatives available. It’s also a tribute to the hard work of all the parties involved in the transaction – their commitment meant that once a price had been agreed and the legals instructed, it was only five weeks to completion.”

On behalf of Clowes Developments (UK) Limited FHP are delighted to announce the recent joint instruction of 99 Friar Gate, Derby. The prominent grade 2 listed former office head quarter building is located on Friar Gate one of Derby’s best known and popular office locations.

The property extends to 416m² (4,478ft²) and benefits from good parking facilities and provides an excellent opportunity for a business’s moving to Derby.

 For further information on this property or to make arrangements to view then please do not hesitate to contact George Dunnicliff on 01332 343222 or George@fhp.co.uk

Derby based Clowes Developments (UK) Ltd., have been awarded a Certificate of Excellence for their new 1,000,000 sf Distribution building at East Midlands Distribution Centre at Castle Donington.

The award, issued by BREEAM, sets the standard for best practice in sustainable building design, construction and operation and is recognized globally as the world’s foremost environmental assessment method of rating for buildings.

Paul Shanley, Director of Clowes commented …’ we worked closely with Marks & Spencer and our design and construction team to achieve this high standard of sustainability for this landmark building. EMDC is on the site of an old power station and we took advantage of breaking up and reusing the old massive concrete power station bases for fill material. Even the main building components are of a recyclable nature for the future.’….

Clowes have now completed and handed the building over to M&S who have embarked upon a major fit-out programme which is likely to continue for the rest of 2012.