Acting on behalf of Betster Bookmakers, Fisher Hargreaves Proctor has acquired premises at 231 High Street, West Bromwich on a new 15 year lease at a rental of £50,000 per annum subject to upwards only five yearly reviews, together with an initial rent free period of 3 months.

The premises occupy a prime location in the town centre close to the entrance to the Sandwell Shopping Centre and contain a ground floor sales area of 1,508ft².

Mark Bradley of FHP who handled the negotiations on behalf of his retained client Betster commented:-

“This is the second new betting shop acquired on behalf of our client Betster who have now secured 4 units throughout the country with a further 10 properties in solicitors hands.  The unit in West Bromwich occupies a prime location in the pedestrianised section of High Street immediately adjacent to New Look and Poundland and was identified as a suitable location where the refreshing and flexible planning policy of Sandwell Borough Council does not unnecessarily restrict change of use from retail to Class A2 use.”.

Betting Shop Holdings Ltd t/a Betster is a newly formed company with substantial financial backing from Intuition Capital and aims to open 50 high quality betting shops over the next 3 years in major towns and city centres.

Fisher Hargreaves Proctor has acquired leasehold premises at 25-27 Market Square, Basildon on behalf of Betster Bookmakers on a new 15 year full repairing and insuring lease at a rental of £35,500 per annum, subject to upwards only review at the end of each fifth year.  An initial rent free period of 3 months was secured.

The double fronted premises contain approximately 900ft² ground floor sales area and occupy an excellent position fronting onto the town’s Market Square.

Mark Bradley of FHP who acted for his retained client Betster, commented:-

“I was pleased to acquire the first betting shop for this new client in an off market transaction following a direct approach to the owners of the shopping centre.  The unit occupies an ideal location for a bookmaker directly fronting the market area and close to several public houses.”

Betting Shop Holdings Ltd t/a Betster is a newly formed company with substantial financial backing from Intuition Capital and aims to open 50 high quality betting shops over the next 3 years in major towns and city centres.

Details of suitable units within the Midlands, East Anglia and Yorkshire areas of between 1,000-1,500ft² ground floor sales should be forwarded to Mark Bradley.

Acting on behalf of First Quench Retailing Ltd, trading as Threshers, Fisher Hargreaves Proctor has successfully disposed of their leasehold premises at 22 Abbeygate Street, Bury St Edmunds by way of assignment to Lloyds Pharmacy.

The premises comprise a ground floor retail unit of 951ft² sales together with rear ancillary storage and are held on a full repairing and insuring lease expiring on 26^th March 2022 at a current rent passing of £56,000 per annum.

Mark Bradley of FHP who handled the disposal commented:-

“This is our first completion from our batch of Thresher disposals throughout the Midlands/East Anglia and in the current retail climate we were pleased to be able to secure an assignment at nil premium to Lloyds Pharmacy to enable them to relocate from a more secondary position in the town.”

For further details of other Threshers disposals, which are available with vacant possession, not as a going concern, please contact either Mark Bradley or Hannah Chapman.

Fisher Hargreaves Proctor has successfully disposed of another Threshers off licence at 20 The Square, Market Harborough to Dolland & Aitchison Opticians for a positive premium of £10,000 in the current difficult market conditions.

The property occupies a prime location in the town and contains a ground floor sales area of 610ft² together with first floor ancillary accommodation of 643ft² on a lease which expires in 2009 at a current rent passing of £21,800 per annum.

Negotiations for the disposal were handled by Mark Bradley who commented:-

“Due to the prime location and popularity of this affluent market town, we expected to achieve a positive premium for the leasehold interest despite the economic climate and even though it only had a short unexpired term.  The property had to be marketed on a “confidential, staff unaware” basis initially but with selective targeting of known requirements for Market Harborough, a transaction was swiftly concluded with Dolland & Aitchison.”

For further details of other Threshers disposals, which are available with vacant possession, not as a going concern, please contact either Mark Bradley or Hannah Chapman.

Commercial property agents Fisher Hargreaves Proctor have been appointed as the preferred agent for Derby’s Cathedral Quarter following a competitive tender.

FHP, which has offices in Derby and Nottingham, is already heavily involved in the commercial property market in the area including handling the marketing for the Full Street development and representing landlords in the Cathedral Quarter.

As preferred agent, the firm will work closely with Cathedral Quarter Company, which is driving forward the Business Improvement District plans, such organisations as Derby City Council and city centre urban regeneration company Derby Cityscape and Marketing Derby, as well as landlords and businesses in the area to secure and strengthen the local retail offer.

FHP Partner Ben Tebbutt explained: “We are delighted to be onboard in the Cathedral Quarter and look forward to working closely with all the public and private sector partners as part of the overall drive to restore the area back to its rightful place as a leading destination of choice for retail, professional services and cultural activity.

“Our main role will be to use our specialist knowledge in the area to proactively work with landlords, other agents and potential tenants to ensure the overall economic health of the Cathedral Quarter.

“Nobody likes to see empty properties and bringing in new tenants will be a top priority for our retail team to ensure the area as a whole is successful.

“Five years ago, tenants could not get a property in the Cathedral Quarter for love nor money.  I am confident that, through proactive marketing by ourselves and other agents, we will return to that situation.”

Ian Ferguson, Contract Manager for the Cathedral Quarter Company added: “The appointment of a preferred agent is an important aspect of our work to unlock the potential of the Cathedral Quarter.

“FHP will work closely with the Management Steering Group to identify opportunities and advise on the commercial property aspects of our five key objectives – increasing awareness, improving access, extending the length of stay, improving safety and security and increasing external investment.”

Acting on behalf of HSS Investments Limited, Steve Young of Fisher Hargreaves Proctor has secured the sale of a mixed use investment at 240 – 242 Ilkeston Road to D&G Property Limited at a price of £233,500.

The premises comprise of a ground floor retail unit and three self contained flats.

The ground floor retail unit is currently let to Ladbrokes at a rent passing of £9,500, and there are two years remaining on the current term. The flats were offered with vacant possession.

Steve Young commented:

“Despite the recent softening of investment yields it is satisfying that we were able to secure a sale at a net initial yield of 3.96% with the purchaser taking a view on the reversionary income from the flats”

Acting on behalf of Rock Investments, Fisher Hargreaves Proctor and Knight Rubins have let the ground floor premises of the George Hotel to Three Blokes Limited (a new limited company set up by an established retailer who have 15 units throughout the UK). This particular venture will specialise in the retail sale of vintage clothing and will therefore complement the existing eclectic retail mix of Hockley Village.

The tenant has taken a new 15 year lease of the premises at a commencing rent of £60,000 and has the flexibility to use them for the purposes of a bar and restaurant should they wish to do so.

Steve Young of FHP commented:

“This is a particularly satisfying result for FHP, who were brought on as joint agents less than a year ago. Prior to our instruction, the premises had been vacant for over 4 years, and the downturn in leisure acquisitions had made this an increasingly difficult unit to dispose of”.

Acting on behalf of Gordon House Investments, Fisher Hargreaves Proctor have let 29 Sadler Gate, Derby.

Ben Tebbutt, Partner at FHP commented:-

“Since the opening of Westfield Derby, a number of areas of the city centre have struggled, with the Cathedral Quarter perhaps seeing the greatest downturn in trade.  It was therefore particularly pleasing to complete a letting of number 29 to Subway Realty Ltd.  Subway have traded successfully from Sadler Gate for a number of years however their existing unit was too small for their requirements.”

29 Sadler Gate provides a ground floor sales area of over 900ft² together with first floor sales.

Subway have taken the premises on a new 10 year lease at a rent of £33,000 per annum.

Malcolm Mailer of Sub Stores Limited commented:-

“We have traded well from Sadler Gate for a number of years and it was important that we acquired a new larger unit in order to not only maintain our existing customers but also accommodate the greater demand.  We are convinced that the impact of Westfield, Derby will only be short term and hopefully Sadler Gate will continue to grow as a retail destination.”

Ben Tebbutt added “In my opinion, Sadler Gate is still Derby’s most attractive retail destination and is home to an eclectic mix of retailers including Limeys, Moda in Pelle, Canopy, Games Worksop, Baytree, Fraiche and McQueens to name but a few.  The development of the Princess Supermarket should commence within the next 12 months which will further strengthen the location.”

For further information contact the FHP Retail Department on either 0115 9507577 or 01332 343222.

Tom Cullen at Colliers CRE, Leeds, acted on behalf of Subway.

Acting on behalf of Cubic Property Holdings Ltd (a subsidiary company of the Lace Market Properties Group), Fisher Hargreaves Proctor have secured the letting of Unit 3 Talbot Street, to Tiffany Johnson trading as J’Adore.

The development of Hanley House and North West, comprises of 151 apartments in total, of which 79 are let on AST’s, and 72 have been sold.  In the Atrium building, there is also some 43,000ft² of office accommodation, all of which will provde a captive market for J’Adore.

The unit provides some 500ft² of accommodation, and benefits from frontage to the busy City Centre access route of Talbot Street. 

Steve Young of FHP commented:

“It was a great opportunity for Tiffany to establish her own salon, after a number of years experience working with other operators within the City Centre.  The premises provide an ideal stepping stone for any new business, due to their location and affordability”.

For further information, please contact Steve Young on 0115 841 1157.

Acting on behalf of Landhold Properties Ltd, Fisher Hargreaves Proctor have recently let the premises at 3-5 Hockley, Nottingham to Real Estate One.

Steve Young of FHP commented:

“The subject premises are double fronted, which will provide a fitting display for Real Estate One’s flagship City Centre branch.  It is anticipated that this branch will serve as an overseas property centre, specialising in the sale of investment properties, holiday homes, and relocation properties, throughout Europe, and through their exclusive agreements with Polaris World, they should have a number of interesting opportunities available.”

For further information, please contact Steve Young on 0115 841 1157.

Acting as sole agents on behalf of Westfield Shoppingtowns Ltd, Fisher Hargreaves Proctor have concluded 5 new lettings within the Broadmarsh Shopping Centre, taking the current occupancy to 98%.

Steve Young of FHP commented:

“The impending redevelopment of the Centre, enables us to offer retailers the opportunity to secure prime City Centre space, on flexible terms, without being tied into long leasehold agreements and exposing themselves to large retail liabilities.  As such, we continue to receive a large number of enquiries and remain confident that we will be able to maintain the excellent tenant mix, and vitality of the Centre all the way through to development”.

Ben Tebbutt, Partner of FHP commented:

“It is an exciting time for Nottingham and the Broadmarsh Shopping Centre.  The announcement of signing two of the anchor tenants Debenhams and Marks and Spencer represent a significant sep forward towards the commencement of building works on the new scheme”.

For further information in respect of the current tenant line up, or for future opportunities within the Centre, please contact Steve Young on 0115 841 1157.

Acting on behalf of The Trustees of Mrs Frances Blane Settlement, Fisher Hargreaves Proctor has secured the letting of 18 Southchurch Drive, Clifton to Rachel Messom trading as Flowers by Rachel.

The new tenant has taken the former Hollywood Movie Store on a 5 year lease at a commencing rent of £8,000 per annum.

Steve Young of FHP commented:

“Having only been instructed to market these premises in late October, I was extremely pleased that we were able to source a tenant and complete a transaction within just 6 weeks”.

He went on to say that:

“Rachel has over 15 years experience in floristry and will complement the existing tenant line up perfectly, providing another highly sought after service to the local community”.

For further information please contact Steve Young on 0115 841 1157.

Fisher Hargreaves Proctor recently sold the premises at 51 Nottingham Road, Keyworth, on behalf of the Executors of Mr A Baldwin.

The property comprises of a lock up shop of circa 614ft², together with two flats each providing 2 bedrooms. 

Steve Young of FHP commented:

“It was extremely satisfying to complete this transaction, as it had previously been on the market for approximately 12 months with a local agent.  Furthermore, the purchasers wished to simultaneously complete on the acquisition of the sitting tenant’s business, and the adjacent garage, to ensure vacant possession of the site in its entirety.  By effectively coordinating all three transactions, we were able to achieve the desired result, and successfully dispose of this property”.

The purchasers are now looking to convert the premises for the use as serviced office suites, with Fisher Hargreaves Proctor being retained to secure tenants for them.

For further information, please contact Steve Young on 0115 841 1157.

After acquiring the former classical music shop premises at 70 Long Row on behalf of Amber Pass, Fisher Hargreaves Proctor have secured a letting to Gloria Jeans Coffees on the basis of a new 10 year lease.

Gloria Jean’s have been established for over 30 years, and currently have over 700 stores in more then 40 countries.

Steve Young of FHP commented:

“By securing this letting, we have created a strong investment for our clients, and helped to significantly increase the capital value of the property”.

He went on to say:

“The subject premises provide a fitting location for Gloria Jean’s first unit in Nottingham City Centre, due to their proximity to both the professional quarter, and the newly transformed Market Square.  With Starbucks, Caffé Nero, and Costa Coffee, currently enjoying a strong hold over the City Centre it is refreshing to see an additional competitor enter the market”.

For further information, please contact Steve Young on 0115 841 1157.

Fisher Hargreaves Proctor has been instructed by Threshers Off Licenses to dispose of a number of unprofitable stores throughout the East Midlands and East Anglia region.

The shop units are located in Derby, Leicester, Loughborough, Market Harborough, Bury St Edmunds and Skegness and full details can be downloaded from the FHP website or by telephoning the office on 0115 9507577.

Mark Bradley of FHP who is handling the disposal instruction commented:-

“We are delighted to have secured this instruction from Threshers and look forward to assisting with their disposal programme within the East Midlands/East Anglia region which is part of a nationwide restructuring programme being implemented by the Thresher Group.  The units trade under various fascias including Bottoms Up, Victoria Wine, Threshers and Local.”

Betting Shop Holdings Ltd t/a Betster is a new name in the UK betting market that will be opening high quality betting shops in prominent high street locations throughout England.

Backed with funding from Intuition Capital, Betster aim to open 100 high quality shops over the next 5 years.

Fisher Hargreaves Proctor has been retained to acquire premises of between 1,000 – 1,500 sq ft within the East Midlands, West Midlands, Yorkshire and East Anglia regions.

Mark Bradley of FHP who is heading the instruction commented:-

“We are delighted to have been retained by Betster to expand their portfolio of betting shops through the Midlands region and have already identified 4 units in the first month of our instruction which are currently in solicitors hands.”

Wayne Stevenson, Development Director of Betster added:-

“Betster aim to create modern, welcoming and exciting betting environments for their customers and our objective is to open 100 high quality shops over the next 5 years.  Betster shops are fresh, modern environments where customers can relax in comfortable seating and watch the action on multiple high quality flat screens and uses the latest technology to make sure its customers can enjoy the best betting experience.”

Fisher Hargreaves Proctor are pleased to announce another successful sale of retail premises on behalf of clients William Hill. 

Acting on behalf of William Hill Organisation Limited, Fisher Hargreaves Proctor were instructed to dispose of the former betting office at 207 Upperdale Road, Derby which had been vacated due to relocation.

Hannah Chapman of Fisher Hargreaves Proctor commented, “We received a significant amount of interest in the premises which resulted in a best bids scenario within a short period of marketing. We were pleased to secure a sale on behalf of clients at a price of £142,000, well in excess of the asking price of £130,000.

It is encouraging to see that demand for freehold opportunities of this lot size remains strong with interest received from a variety of investors and occupiers alike.”

For more information on this transaction, or to see how Fisher Hargreaves Proctor might be able to help with your property needs, please contact the team on 01332 343222.

Acting on behalf of Regaland Ltd, Fisher Hargreaves Proctor has secured a new letting of 4 Chilwell Road, The Square, Beeston to Long Eaton Eye Care Ltd which trades as a Specsavers franchise on a 10 year full repairing and insuring lease at a rental of £43,500 per annum, subject to an initial rent free period of 3 months.

The premises comprise a ground floor only retail unit occupying a prominent location opposite The Square Shopping Centre within the pedestrianised section of Chilwell Road and contain a ground floor sales area of 1,577ft², together with a small ground floor ancillary area of 177ft².

The agreed rent equates to £39 Zone A.

Mark Bradley of FHP, who acted for the landlord commented:-

“The unit was formerly occupied by Staybrite Windows at a rent of £38,000 per annum.  Initially, Staybrite were intending to renew their lease but having found alternative roadside showroom premises in the area, discontinued their tenancy upon expiry and consequently FHP were instructed to find a new tenant.  The letting to Specsavers was achieved within a relatively short timescale following expiry of Staybrite’s lease at an increased rent of £43,500 per annum thereby improving the asset value of our client’s investment.”

Fisher Hargreaves Proctor has secured a new letting of 6 King Street, Nottingham on behalf of IPT Holdings Ltd to Veejay Knitwear Ltd t/a Pink on a 10 year full repairing and insuring lease at a rental of £34,000 per annum, subject to an initial rent free period of 3 months and a tenant’s break option at the end of the fifth year.

The premises, which formerly traded as Johnstone Lingerie, comprise ground floor sales of 580ft² together with basement stores of 432ft².  The agreed rent equates to approximately £80 Zone A.

F & C Asset Management are Fund Managers for IPT Holdings Ltd who own the building at the junction of King Street and Long Row which is also occupied by C & J Clark Footwear and Thorntons together with upper floor offices which are currently on the market to let through FHP, who also acted for the landlord on recent lease renewals with the two national multiple retailers.

Alan Pearson, Associate Partner of Fisher Hargreaves Proctor has acquired premises on behalf of All Things Chocolate at Westfield, Derby a £340 million extension to the former Eagle Centre, anchored by Debenhams and Marks & Spencer.  The premises comprise of a unit of 1,133ft².

Alan Pearson of Fisher Hargreaves Proctor commented, “All Things Chocolate Provide a unique coffee shop and handmade chocolate offer and following their successful opening of their Nottingham store Fisher Hargreaves Proctor were instructed to seek additional premises at Westfield Derby which provided a great opportunity for All Things Chocolate to expand their presence in the region.”

Philip Ahn of All Things Chocolate commented, “After the success of our units in Beeston and Nottingham I was keen to acquire a third unit and sought a shopping centre location to pilot our next generation store.  Westfield Derby provides an existing opportunity to expand in the region and share our passion for handmade chocolates with a wider audience.”

Alan Pearson, Associate Partner of Fisher Hargreaves Proctor has acquired premises on behalf of Edward Jones, at 15 Front Street, Arnold, Nottingham.  Edward Jones have taken an assignment of the lease at 15 Front Street, Arnold, which was previously occupied by Michaels Wood Floor Store.  The premises were let on a six year lease, from April 2005 at a commencing rental of £18,000 per annum exclusive.  The premises comprise of a ground floor sales area of 645ft². 

Edward Jones are the largest financial services firm in the USA, in terms of branches and set up their UK operation in Canary Warf in December 1997.

Alan Pearson at Fisher Hargreaves Proctor commented, “Edward Jones had a requirement for premises in north Nottingham and considered Arnold to be the most appropriate location, as it is commonly recognised as one of the best trading suburbs within Nottingham.  The premises provide a prominent corner position close to the prime pedestrianised section of Front Street and fronting the main arterial road through the Town Centre.  This is a key requirement for Edward Jones who require prominent locations for their branches.”

Alan Pearson Associate Partner of Fisher Hargreaves Proctor has agreed the letting of 60 Derby Road to new lifestyle retailer Le Chien Et Moi on a twelve year lease, subject to three yearly rent reviews at a commencing rental of £18,000 per annum exclusive.  60 Derby Road was formally occupied by Nash Interiors and forms part of a seven unit retail parade which is made up of a number of associated retailers including Ferguson Interiors, Flooring Trend, Contemporary Framing and Goldsmiths Florists. 

Alan Pearson of Fisher Hargreaves Commented.  “60 Derby Road provides a prominent corner position on this busy arterial road.  The parade is located in close proximity to Nottingham’s premier housing area, the Park Estate and has a long history of furniture and lifestyle retailers located here and we are happy to secure another quality retailer to add to the existing line up within the parade. 

There was strong demand shown in the subject premises from a number of retailers and I am pleased to secure terms in excess of the quoted rent which demonstrates the strength in this retail location.”

Pip Bolton of Le Chien Et Moi commented, “We are thrilled to have successfully secured these premises.  It is a building with character in a great retail environment.  We love Derby Road and shop there regularly ourselves as it provides an interesting mix of independent retailers.  We hope to compliment that when we are open in Winter 2007/2008 by offering an eclectic mix of beautiful traditional products, both old and new for our customers and their homes.”

“We have spent the last few years sourcing products from around the world so that we can bring something different to Nottingham that is not readily available elsewhere.  We will continue to identify and work with local and international artists and designers to offer exciting new pieces for our customers and we have a passion for interesting furniture which will create an ever changing environment in the shop.”

Alan Pearson, Associate Partner at Fisher Hargreaves Proctor (FHP) has let 27 Pelham Street, formerly occupied by Fat Face to All Things Chocolate Limited.  All Things Chocolate Limited have taken a new Lease at £29,000 per annum exclusive and provides basement, ground, first and second floor accommodation. 

Alan Pearson of FHP commented:

“Strong interest was shown in the premises, from a number of retailers.  My clients decided to proceed with All Things Chocolate Limited, which provide an exciting confectionary and coffee shop offer and are a welcome addition to Nottingham.  All Things Chocolate originated in the popular Nottingham suburb of Beeston and were keen to expand their business into Nottingham City Centre. 

All Things Chocolate have moved their hand made chocolate manufacturing to Pelham Street to service their existing wholesale business and their expanding retail offer.”

Philip Arn of All Things Chocolate Limited commented:

“The premises offer a great opportunity to open in Nottingham and to expand our presence in the region, since opening our first outlet in Beeston just over a year ago.  We offer a diverse chocolate offer, ideal for gifts or pure indulgence.” 

All Things Chocolate will open their third store in Westfield, Derby in October.

Targetfollow, owners of Newark’s Buttermarket Shopping Centre have appointed retail specialists Fisher Hargreaves Proctor as agents for the Centre.  

Over the coming months Targetfollow is investing £275k improving the 28 unit Buttermarket Shopping Centre in Newark-on-Trent.  The 23,315ft² Buttermarket, the town’s only indoor shopping facility offers a diverse range of quality independent outlets and well known retail brands, such as Jessop, Millets and Connaught House.  Two tenants have recently been added to the Buttermarket’s portfolio; Bubbles Bathtime and CAS Jewellery has opened a new store, the first outside of London for this established designer – offering contemporary jewellery. 

Part of the Buttermarket is housed beneath one of the town’s most imposing buildings, the Grade 1 listed John Carr designed Georgian Town Hall overlooking Newark’s market place.  

Fisher Hargreaves Proctor has a long association with both Newark and the Buttermarket.   The company was formerly known as Brian Fisher and Co and opened its first office on Appletongate in Newark and were also the original agents who launched the shopping centre in 1990.

Alan Howard, Portfolio Manager for Targetfollow commented: “The appointment of Fisher Hargreaves Proctor is key to our strategy for The Buttermarket. They have an excellent track record in the East Midlands, particularly in other towns and cities such as Nottingham, Derby, Grantham and Worksop and are responsible for bringing some quality retail tenants to those areas.”

Over the past two years high street names such as Monsoon, Accessorize and Starbucks have recently chosen Newark as locations for new outlets. 

Fisher Hargreaves Proctor’s Retail Department is headed up by David Hargreaves and specialises in retail agency development and acquisitions, predominantly in the East Midlands.  Fisher Hargreaves Proctor is advising Westfield, the world’s largest shopping centre owner, on the £400m redevelopment of Nottingham’s Broadmarsh Centre.

Alan Pearson, Associate Partner at Fisher Hargreaves Proctor added: “The Buttermarket has huge potential and is in a great location within Newark Town Centre.  There is certainly a great deal of movement within the retail market in this area we just need to attract the right sort of tenants to the Buttermarket.” 

Over the years the Buttermarket, which was first opened in 1990 as The Royal Exchange, has had a string of different owners particularly in the late 1990’s and was finally acquired by Targetfollow in October 2002.  Targetfollow owns and manages 60 properties, plus three other shopping centres as well as the Buttermarket; the Sky Dome in Coventry, Grand Central in Stockport and the Corn Exchange in Royal Tunbridge Wells.

FHP, Midlands Property Advisor of the Year 2006, have been instructed by Tesco Stores Plc to acquire stores throughout Nottinghamshire.

Ben Tebbutt, Partner at FHP, commented:-

“We are delighted to undertake work on behalf of Tesco which will predominantly involve the acquisition for their convenience store format.  These tend to be units of approximately 4,000ft² located on busy arterial roads or within neighbourhood retail centres.”

He added “I have been involved in a number of Tesco deals over the past 2-3 years including lettings on Mansfield Road, Sherwood, Hucknall Road, Carrington and Gateford Road, Worksop.”

Mark Rogers, Acquisitions Surveyor at Tesco, commented:-

“We are delighted to have FHP acting on our behalf, and we believe that they will be able to use their extensive knowledge of Nottinghamshire in order to identify a number of suitable opportunities.”

Ben Tebbutt added “Tesco’s ideal requirements are for a store of 4,000ft² together with car parking for approximately 15 vehicles.”

Details of any sites that are felt suitable should be forwarded to Ben who is at FHP’s Nottingham office or by email ben@fhp.co.uk, telephone 0115 8411142.

Acting on behalf of George Akins, Fisher Hargreaves Proctor have successfully marketed and disposed of
41 – 47 Mansfield Road, Daybrook, Nottingham.

The property comprises two large retail units at ground floor let to Nu Concepts Ltd and Coral Estates producing £30,000 rising to £31,500 in June 2008.   To the upper floor are four self contained 1 bedroom flats producing £17,340 pax, a total current income of £47,340 pax.  The purchase price of £625,000 represented a net initial yield of 7.16% rising to 7.39%.  Innes England represented the purchasers NOS Number 2 Limited.

Alan Pearson, Associate Partner of Fisher Hargreaves Proctor has let 8 Croft Road, Arnold to Nailsco Limited.  Nailsco have taken a new, 10 year lease at a commencing rental of £17,000 per annum, subject to 5 yearly rent reviews.  The premises comprise of 937ft² and are arranged over two floors.

Alan Pearson of FHP commented, “The subject premises became vacant following my clients relocation to the City Centre.  The premises are located in a good secondary position within Arnold Town Centre, opposite one of the towns principal surfaced car parks.  The premises benefit from an angled frontage, facing front street, therefore increasing the prominence of the unit within the parade.  This proved a key attraction to a number of retailers who expressed interest in the property and after a couple of abortive negotiations we were able to secure a letting to Nailsco Limited.  The letting was completed at £17,000 per annum and when devalued this sets a new Zone A level for the parade.”

Alan Pearson, Associate Partner at Fisher Hargreaves Proctor has let 20/22 Maid Marian Way on behalf of the Kandahar Group to Evans Cycles.  Evans Cycles have taken a new, 10 year lease, subject to 5 yearly rent reviews at a commencing rental of £58,000 per annum exclusive.  The premises comprise of a ground floor sales area of 3,574ft², together with first floor stores/potential sales of 3,464ft².

Alan Pearson of FHP commented, “The subject premises provide prominent retail accommodation within Nottingham City Centre, with large footplate and relatively economical rents in comparison to the rest of the City Centre.  Considerable interest was shown in the property, with a number of viewings and offers being received.  A deal was concluded with Evans Cycles, who currently trade from 27 stores across the UK and acquired this unit as part of their continuing expansion programme.”

Michael Rice, Managing Director of Evans Cycles commented, “We’re really excited about having a presence in Nottingham.  This location is a great base from which Evans Cycles can attract companies in the Midlands to the Ride2Work programme.  We also hope that this new store will enable us to emulate the growth and success of the cycling stores we’ve built up throughout the UK.”

The announcement of the Evans Cycles Nottingham store follows the opening of a new branch in Chiswick, West London, to coincide with the expansion of London’s congestion charge.  Evans Cycles, Britain’s largest independent cycle retailer have also announced the opening of another store in Hendon, North London for May 2007, and will confirm locations for another three stores to be opened in the coming months. 

Donaldsons London acted for Evans Cycles. 

The Warren Arms Public House in Stapleford is set be redeveloped as a large retail unit and two smaller retail units thanks to a deal secured by Midlands Property Advisor of the Year, Fisher Hargreaves Proctor (FHP).

Located on Derby Road, the property sits on a site of 0.25acres with units ranging in size from 1,022ft² to 5,010ft²   due to be available in autumn.

Steve Young, of FHP, said: “The redevelopment of the Warren Arms will offer 3 retail units in a good location close to car parking.   We’re expecting this site will be very popular and with the option of a leasehold or freehold purchase on all three units there is great scope for established or new businesses to make their mark on Stapleford.”

David Hargreaves of FHP said that the redevelopment would also suit a pub or restaurant operator.

For further information visit www.fhp.co.uk or call Steve Young 0115 841 1157.

Midlands Property Advisor of the Year, Fisher Hargreaves Proctor (FHP) have been appointed to market a mixed use retail and residential development site within Nottingham’s Eastside Regeneration Area.

The site, which fronts Lower Parliament Street, is adjacent to the hugely successful BioCity, the head office for East Midlands Development Agency (emda) and the £900 million development project known as EastsideCity.

The site, which has been marketed at “offers over £2 million” has planning consent for 40 car parking spaces, four ground floor retail units totalling 6,385ft² and 42 two bed apartments over five floors.

Commenting on this investment opportunity, FHP partner David Hargreaves, said: “This is an exciting development opportunity in one of Nottingham’s major growth areas. This site will be one of the first areas of Nottingham’s Eastside Regeneration Zone to be redeveloped.”

Adjacent to the site are two additional pieces of land which could also be acquired to create an island development opportunity which could provide for up to 130,000ft² of accommodation, subject to planning.

Stuart Horne of FHP, said: “Over the past few years we have seen heavy investment in mixed used developments in the city, including the likes of Waterfront Plaza which is close to this site, One Fletchergate and The Glasshouse on Huntingdon Street. Mixed use development is the way forward and we expect significant interest in the site from residential developers, but also those looking at the larger opportunity of combining two sites.”

David Hargreaves added: “If all three sites are put together, the location is appropriate for not only residential, but also offices, a hotel, educational use and student accommodation.”

For further information please call David Hargreaves or Stuart Horne on 0115 950 7577 or visit www.fhp.co.uk

ends

For further information please contact Catherine Keep at Willoughby PR on 0115 924 7132/ 07791 027 070 or email catherinek@willoughby-pr.co.uk

Notes to editors

Fisher Hargreaves Proctor was established in 1990 and is now one of the leading firms of property consultants in the Midlands.   Fisher Hargreaves Proctor was ranked number 59 in the Estates Gazette Top UK Agents table and holds the title of Midlands Property Advisor of the Year.

The company operates from offices in Nottingham, Derby and Newark and specialises in development, agency, investment and professional services work across the retail, leisure, office, industrial, warehouse and residential sectors.  The three Partners of the firm are John Proctor, David Hargreaves and Andrew Chapman.