Office News

The Office and Industrial Agency Team at FHP Property Consultants have continued to be extremely busy as a consequence of the active market in this sector and have completed more than 60 transactions in the County in 2015.

We have seen a high level of take-up across the board and particularly in the industrial sector which has led to a distinct shortage of units, especially in the smaller size range up to 10,000ft². Indeed across the multi-let industrial estates which traditionally provide a range of accommodation of the local market, many of these are now at or near full occupation including those which FHP deal with locally including Derby Trading Estate, Prime Industrial Park, Ecclesbourne Park and The Ropewalk.

Junction 28 continues to be the largest industrial/distribution location on a year on year basis and again has attracted high profile deals including completion of the 100,000ft² new build to Parker Knoll and agreement of 250,000ft² to Alloga, both at Castlewood. Junction 24 and the A50 corridor have seen an increase in demand and a lack of existing stock is leading to both design and build and speculative developments.

Within Derby itself 2016 will see the opening up of Infinity Park through completion of the Chellaston link road from the A50. Local demand continues to be firm partly due to the City’s status as a high technology centre and with a high level of occupancy we are looking for more industrial and office space to market.

Demand for offices has continued to improve and we have recently let 16,600ft² at Pentagon House, together with a number of suites and buildings on Pride Park. We are marketing some high profile new build office development schemes in Derby and are confident that we will soon be able to capitalize on the latent demand in that sector. Businesses are increasingly embracing modern flexible working practices and new office space helps facilitate a more efficient business environment.

We have seen both rents and capital values continue to improve and landlords are finally seeing rental increases on new lettings and at rent reviews or lease renewals. We are also seeing increased demand for our acquisition services as we are able to source properties and negotiate the best deal for our clients.

If you are considering a move or would simply like to understand general market conditions then please contact one of the team.

For information please contact Tim Richardson on 01332 224 857 or email timr@fhp.co.uk.