Industrial/Warehouse News

FHP have seen firsthand the strong demand for industrial/warehouse premises in Ilkeston and its surrounds, including West Hallam. Having placed a prominent detached warehouse consisting of 11,942ft² under offer on Manners Industrial Estate, we had originally placed it on the market to rent for which we had strong interest including three offers, we were then instructed to sell the premises which resulted in even greater interest.

At West Hallam Industrial Estate we have had great success letting the ‘Romney’ style World War 2 Ordnance Depot units offering flexible terms seeing five units let within 2024. The new build units on the scheme also became fully let this year proving the location is popular for start up occupiers all the way to established large businesses. We still have a small number of units available in the region, including recently refurbished 3,000ft² units on Digby Street, a 16,000ft² unit on Cossall Industrial Estate and new build units close by in Heanor.

The current market conditions in Ilkeston are strong despite the current economic and political climate of the wider country due to the lack of supply of warehouse premises available in the area and the high demand from local occupiers looking to remain in the region. The area has proven to be somewhat market proof with enquiries remaining constant and deals being done throughout a turbulent economic period within the UK.

The UK wider economy has struggled in recent years following the pandemic leading into the war in Ukraine, the conflict in the Middle East, high interest rates and most recently the general election which has just taken place. All of this has a large effect on the commercial property market as occupiers are more cautious on moving or purchasing premises with such large uncertainty. That being said, in Ilkeston demand has remained strong throughout this period largely in part due to the lack of available premises especially those of good quality. There remain few new build schemes in the area, a key scheme currently under construction is at New Stanton Park but the smallest units available are 11,015ft², further afield is the best option at Headstock Industrial Estate in Watnall, where they have satisfied the much needed demand for small-mid range new build units.

Another reason for Ilkeston’s commercial market being strong is the demand from local occupiers looking to remain within the area and not look elsewhere causing a bubble effect in the region. The reason being is, if an occupier is looking to expand into another warehouse, the logistics involved with having two units in different areas causes issues, staff retention may be difficult as staff will not want to travel further and lastly, many of the local businesses all work with each other and therefore would not want to leave the area.

We are therefore seeking more stock in the area and if you are looking to sell or rent your premises then please do get in touch with us and we would be happy to advise you accordingly as I am sure we are already speaking to the potential purchaser or occupier.

For further information please do not hesitate to contact Corbin Archer on 07929 716 330 / corbin.archer@fhp.co.uk or Darran Severn on 07917 460 031/ darran@fhp.co.uk.

ENDS

July 2024

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