The last 12 months have somewhat flown by and it doesn’t seem that long since I was sat at my desk back in January 2021, albeit my desk at home and not in the office. Pleasingly 2021 turned out to be a better year than initially expected. The industrial/warehouse sector has been particularly buoyant, and we have also seen good activity in the office market. As a result, deal activity has remained very consistent throughout the year.
We started 2021 with a good level of industrial/warehouse units available on both a leasehold and freehold basis. It was clear within the first 3 months of the year that demand was simply going to outweigh supply creating a shortage of units across all size ranges. This trend certainly continued throughout the year, and I found myself speaking with many more businesses who are struggling to source premises. In fact, enquiry levels overall were high, and it was often the case that we received multiple offers on properties. In addition, I found businesses were having to widen their search area due to a lack of options and we were picking up enquiries further down the A38 in Burton on Trent and Lichfield and across the A50 to Stoke on Trent.
Deal activity in the office market has been positive and we did see an encouraging number of transactions take place throughout the year. Typical requirements tend to be between 1,000ft² and 6,000ft² with a couple of exceptions around 10,000ft².
Many of the businesses I have spoken with are planning a return back to the office if they haven’t already and I get the impression that working from home has its place, but there is no replacement for face to face interaction. What I have noticed is that occupiers are looking for higher quality offices that offer a mixture of traditional desk space but also offer creative collaboratives zones and breakout space.
To conclude a busy year, I also completed several deals within the investment sector. Typically, these have been single let industrial or office buildings returning yields between 6% and 8%. More pleasingly, we exchanged contracts on approximately 35,000ft2 of city centre retail space in December which should complete in January 2022.
I am pleased to say that the FHP Derby office has performed well this year and this is the second year in a row that we have strengthened our team and we are now better placed than ever to service our existing and new clients as instructions continue to grow across the region.
As we look forward to 2022, the general sentiment remains the same and there simply isn’t enough space. We need more industrial/warehouse stock of all sizes to satisfy current demand whilst we await new build schemes that are looking to be delivered in the next 6 – 12 months. In terms of the office market, I envisage increased activity as more and more businesses return to the office, albeit this is likely to be later in the year.
ENDS
Darran Severn
January 2022
FHP Property Consultants are pleased to bring to the market this former Distribution Depot which is situated on Melbourne Road in Lount, Leicestershire.
The site is strategically located only 2 miles from Junction 13 of the A42 with Junction 23A of the M1 only 9 miles away to the north east.
The property sits on a self-contained site extending to approximately 3.2 acres and comprises a single storey warehouse, a separate workshop facility and a 2 storey office building. There are extensive hardsurfaced areas providing access, parking and loading facilities to each of the buildings as well as being suitable for open storage. The site also benefits from being recently fenced and gated.
The accommodation totals 37,302ft2 and is available on new lease terms direct with the landlord at a rent of £165,000 per annum.
Darran Severn of FHP Property Consultants commented:
“This is a rear opportunity providing good warehouse/workshop accommodation situated on a securely fenced and gated large surfaced site, just off the motorway and Junction 23A. On that basis I am expecting a lot of interest and I look forward to hearing from any interested businesses. Whilst the site would suit a distribution business, it would also lend itself well to other uses such as general storage or vehicle parking.”
For further information or to arrange a viewing, please contact Darran Severn of FHP Property Consultants on 07917 460 031 / darran@fhp.co.uk or contact our joint agent, Richard Tilbrook of Roger Etchells on 07767 334 744 / richard@rogeretchells.co.uk
ENDS
Darran Severn
December 2021
FHP Property Consultants are pleased to confirm the letting of 39 Brunel Parkway, Pride Park, Derby to Wabtec Faiveley.
39 Brunel Parkway is conveniently situated on Pride Park close to the railway station and offers excellent access to the M1 via the A52 and A38. The property comprises a modern semi-detached two storey office building finished to an excellent specification including raised access floors, air conditioning and a passenger lift.
The offices have been let on new lease terms for a period of 5 years at a headline rent of £12.80ft2.
Darran Severn of FHP Property Consultants comments:
“I’m pleased this letting has completed and it’s been a great result for both our client and the new tenant. Pride Park is Derby’s primary office location and is still very popular with local businesses due to its connectivity. 39 Brunel Parkway offers modern air-conditioned office space with good parking. I look forward to seeing the tenant in occupation in the new year.”
For further information or to discuss any of the above in more detail, please contact Darran Severn on 01332 343 222 or email darran@fhp.co.uk.
ENDS
Darran Severn
December 2021
Acting on behalf of Clowes Developments (UK) Ltd, FHP Property Consultants have completed the investment sale of Unit A Crown Park, Parcel Terrace, Derby. The unit was built earlier in 2020 and let later that year on a new 15 year lease to Derbyshire Performance.
Darran Severn of FHP Property Consultants comments:
“Crown Park comprises six new build industrial/warehouse units ranging in size from 2,583ft2 to 7,750ft2, all of which are finished to a high specification and are tenanted. Unit A is somewhat the jewel of the estate benefitting from a good sized self-contained yard to the front and rear of the property. The sale was secured at a price of £510,000 which represented a net initial yield of 6.24% after purchase costs.
If you are in the market for something similar, we have units B3, B4 and B5 available to purchase. These units are let to one occupier and total 17,994ft2. Please get in touch for further information.”
Should you require any further information on this sale then please contact Darran Severn of FHP Property Consultants on 01332 343 222 or email darran@fhp.co.uk.
ENDS
Darran Severn
December 2021
FHP Property Consultants are pleased to offer to market an excellent office investment situated on Pride Park, Derby. Following the recent letting of the ground floor, 1 Pride Point Drive is now fully let and comprises two tenants producing an annual income of £75,750.
The property comprises a two storey self-contained detached office building set within a well maintained shared site with 21 parking spaces. The accommodation totals 557m² (5,995ft²). Part of the ground floor has recently been let to ICP Nurseries on a 5 year lease. The remainder of the building is occupied by Exponent International who have a lease expiring in 2026.
The investment is on the market at a quoting price of £900,000 reflecting a net initial yield of 8.0% after the usual purchasers’ costs.
Darran Severn of FHP Property Consultants, comments:
“I am pleased to offer this opportunity to market. We have successfully renewed the lease with Exponent International and have also secured a letting to ICP Nurseries, creating this opportunity. Pride Park is Derby’s premier office location and at 8% this is also underpinned by vacant possession values of circa £150 – £160 per sq ft.
I look forward to speaking with interested parties.”
For further information or to arrange a viewing, please contact Darran Severn on 07914 460 031 / darran@fhp.co.uk.
ENDS
Darran Severn
November 2021
FHP Property Consultants are delighted to have been instructed to market Prospect House, 1 Prospect Place, Pride Park, Derby, DE24 8HG. This property was one of the first HQ offices built on Pride Park and must be one of the most well-known office buildings in Derby.
The property occupies a highly visible position on Pride Park, diagonally opposite Pride Park Stadium and accessed off Derwent Parade which connects the adjoining Wyvern Retail and Business Park with the A52 and M1 via Junction 25. The accommodation spans over three floors and offers a high-quality finish with an arrangement combining a mixture of cellular and open plan space, reception and meeting rooms.
The offices are available on new lease terms or on a freehold basis. The quoting terms are dependent upon the specification.
Darran Severn of FHP Property Consultants, comments:
“This is an excellent opportunity to occupy/acquire one of the most prominent and well-known buildings on Pride Park. The offices offer excellent open plan accommodation and will benefit from a refurbishment to suit individual occupier requirements. They also boast an impressive amount of parking spaces with 51 marked bays along with cycle stores.”
For further information or to arrange a viewing, please contact Darran Severn on 07914 460031 / darran@fhp.co.uk or our joint agents, Andrew Butcher on 07977 981901 / andrew@andrewbutcher.com or Russell Rigby on 07894 641316 / russellrigby@rigbyandco.com.
ENDS
Darran Severn
October 2021
The industrial and logistics sector continues to thrive as demand far outweighs supply across the East Midlands. More locally this trend is witnessed between Derby and the neighbouring town of Burton on Trent which is connected via the A38 corridor. The A38 corridor is a busy north/south connection between the M1 and M6 Motorway thus a popular location for mid to large sheds. Existing stock levels are low due to unprecedented activity within the sector on both a leasehold and freehold basis. Whilst new schemes are in motion, we are unlikely to see these delivered within the next 6 – 12 months. Developers are trying to meet demand but there is an obvious time lag between deciding to speculatively develop and delivering buildings of 100,000ft²
Darran Severn of FHP Property Consultants comments:
“Despite the pandemic, stock levels have never really risen to anything more than a bare minimum and we are now at an all time low. The market has since been extremely active. We have disposed of almost all our existing stock between 1,000ft² and 30,000ft² completing over 30 deals within the last 9 months across the region. We have seen a pleasing uplift in both rental and capital values. Whilst we currently have a selection of stock available, we do require more. We are speaking with occupiers on a day to day basis that require industrial/warehouse premises along the A38 corridor from 10,000ft2 – 100,000ft² plus.”
Dan Mooney from FHP Property Consultants comments:
“We are pleased to have been recently instructed to market several land opportunities at Drakelow Business Park, which is located to the south of Burton. We have seen excellent take up for land across the county within the last 4 months and are pleased to be taking frequent enquires for industrial/land in Burton on Trent from various occupiers including local businesses to those based within the wider East Midlands area. In the past couple of weeks, we have put a ½ acre plot under offer with another ½ acre plot just about to go under offer in the coming weeks. We still have further sites available up to 2½ acres, but I expect these will be taken shortly. Whilst we only have sites available, I am speaking with numerous businesses seeking 1,000ft2 – 10,000 ft² units but unfortunately have few opportunities to show them.”
Should you require any further information or wish to discuss any of the above in more detail, then please contact Darran Severn of FHP Property Consultants on 07917 460 031 / darran@fhp.co.uk or Dan Mooney on 07929 716330 / dan.mooney@fhp.co.uk.
ENDS
Darran Severn
12 October 2021
FHP Property Consultants are pleased to announce the recent letting of Units 1 & 2, Ecclesbourne Park, Cotes Park Industrial Estate, Alfreton to JPL Upholstery Limited.
Ecclesbourne Park is located on the Cotes Park Industrial Estate, a well established industrial and distribution location which is accessed directly off the A38. The unit comprises an end terrace light industrial property providing clear span industrial/warehouse accommodation with parking/loading to the front.
The unit has been let on new lease terms for a period of 5 years.
Darran Severn from FHP Property Consultants comments:
“I am pleased this letting has completed, even more so that Ecclesbourne Park is now fully let. Demand around Junction 28 of the M1 continues to rise as existing stock become more and more scarce. As a result we have been able to push on rents by another 25p per sq ft, in turn increasing the investment value of the site.”
Should you require any further information on this letting then please contact Darran Severn of FHP Property Consultants on 07917 460 031 / darran@fhp.co.uk.
The industrial/warehouse sector has been extremely active throughout the first half of 2021 and demand has far outweighed supply across Derbyshire and the wider East Midlands. FHP Property Consultants are pleased to announce that Amber Business Centre which is situated in Riddings, Alfreton, has achieved full occupancy for the first time in over five years following the recent letting of Unit 5 to Abby Logistics.
Unit 5 comprises a detached industrial/warehouse unit which has undergone a full refurbishment to include new cladding, level access and tailgate level loading doors, new windows and roof lights, LED lighting and offices. The accommodation provides a total of 27,222ft2 and benefits from a yard to the front and rear of the property.
Amber Business Centre was purchased by Mileway, the leading pan-European logistics real estate company, approximately three years ago. During that time Mileway have been working with FHP Property Consultants to not only reduce voids but increase rental values.
Darran Severn of FHP Property Consultants commented:
“There are not many multi let industrial estates in the region that contain over 60 units totalling some 400,000ft2 and to achieve full occupancy here is fantastic. More pleasingly rental levels have significantly increased during that time and we have seen an increase of circa 10% over the last 12 months alone. Unit 5 had undergone an impressive refurbishment and let with weeks of completion of the works”.
Max Pearson, Asset Manager at Mileway commented:
“The letting of Unit 5, the last vacant unit on the estate, demonstrates the value created through the £1.2M refurbishment. We are delighted FHP has helped us secure Abby Logistics as a customer and are excited by the continuing strength of the Midlands industrial market.”
For further information, please contact Darran Severn of FHP Property Consultants on 07917 460 031 or darran@fhp.co.uk.
ENDS
Darran Severn
31 August 2021
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