Xhas now been added to your account
CONTINUE BROWSINGGO TO MY ACCOUNT
Market Overview News
The first half of 2024 has pleasingly been a busy period for FHP Property Consultants, and we have been involved in several successful schemes across North Derbyshire, particularly between Junctions 29 and 30 of the M1 motorway.
The office agency team have been dealing with a number of good quality enquiries which has led to the letting of 12,000ft² at Holmewood Business Park, Holmewood, a modern office park approximately 4 miles south east of Chesterfield. The 12,000ft2 comprises two lettings, one to Rutland UK who have relocated from Chesterfield, and the second to Harmony Fire who have several offices located across the country. Both businesses have committed to new 5 year terms and chose this location due to the connectivity to the M1. We have one remaining office building at Holmewood Business Park comprising 5,267ft2, for which we already have strong interest, and we will hopefully be able to declare this “under offer” within the next couple of weeks. The office team also has 6,000ft2 “under offer” in Barlborough, just off Junction 30 which is due to complete any week with terms also out on an additional 12,000ft2 office building in this location.
Darran Severn, Director at FHP Property Consultants commented:
“It’s been hard work but pleasing we are seeing some of the deals we agreed earlier in the year completing. We are finding that enquiry levels are consistent and in some of these locations it’s a matter of unearthing the right occupier for the building. Quality is key, and many of the businesses we are speaking with are looking for refurbished space that is immediately available for occupation. Both capital and rental values remain at existing levels, with typical lease lengths being between 5 and 10 years with breaks in year 3. Whilst there is an element of uncertainty in the air due to political and world events, we do require more stock across Derbyshire to satisfy ongoing requirements.”
The industrial agency team has also been busy working on several schemes in Clay Cross, the first being Wingfield View Business Park, which is being developed by Roe Developments. Wingfield View Business Park is a new industrial estate comprising 19 units totalling some 60,000ft2. The units range in size from 2,091ft2 to 12,062ft2 and have been available to purchase or lease. FHP Property Consultants alongside joint agents are pleased to confirm that all units are now under offer with practical completion imminent.
Darran Severn added:
“This has been an extremely successful development and one which has been a pleasure to work on. The size of units delivered is exactly what the local market requires, and consequently the majority of these units are going to local businesses. There has been a continued demand for units up to 10,000ft2 particularly on a freehold basis and the flexibility here has been key to getting all units under offer.”
Following the success at Wingfield View Business Park, Roe Developments have started construction on Egstow View Business Park, Clay Cross, which will offer a mix of trade counter and warehouse units. The scheme should be available for occupation around Q2 2025 and we are pleased to confirm that there are already four units under offer on a leasehold basis including one drive-through unit.
In the general Chesterfield area, we completed the sale of 12,500ft2 in Whittington to another local occupier and have let a further 3,000ft2 at Spectrum Business Park, just south of the town centre. Due to the success at Spectrum Business Park, the owners are now looking to deliver further units that will hopefully be available in Q1 2025.
We are seeing that most businesses are being prudent in their business plans, but we are pleasingly finding the majority are still being progressive. Enquiry levels remain consistent and more importantly units are being placed under offer and deals are completing.
For further information on any of these deals, or to discuss your property requirement/disposal of your property, then please do not hesitate to contact a member of our team.
Darran Severn – telephone 07917 460 031 or email darran@fhp.co.uk
Corbin Archer – telephone 07929 716 330 or email corbin.archer@fhp.co.uk
Harry Gamble – telephone 07798 443 828 or email harry.gamble@fhp.co.uk
ENDS
June 2024