FHP ACHIEVED FULL OCCUPATION AT CITY BUSINESS PARK IN COLWICK

Industrial/Warehouse News

FHP Property Consultants are delighted to announce their latest letting at City Business Park in Colwick to Mortimer Management Group, the latest in a series of lettings has resulted in full occupancy being achieved on the site.  The units were constructed in 2008 in connection with the city electrical factors trade counter branch and has been vacant for some time prior to FHP’s involvement.

Mark Tomlinson of FHP Property Consultants commented: –

“The completion and construction of these units couldn’t have happened at a worse time, coinciding with the decline of the general economy that marked a sharp decrease in the industrial market generally which resulted in subdued demand for trade counter opportunities in this location for some time.

Upon being instructed the units no longer commanded trade counter rents and therefore we corrected the rents in order to compete with the general local industrial and warehousing market.  This stood us in good stead and we achieved a series of lettings and I am delighted we have now achieved full occupancy on the site.

I am now seeing an increased appetite among occupiers to secure new premises both on a leasehold and freehold basis and good quality units such as these are becoming increasingly rare.  With little development of this nature in the pipeline around the City this is likely to become an increasingly familiar story.”