Office News

FHP Property Consultants have topped the Radius Data Exchange Nottingham Office Disposals League Table for the seventh year running, towering above the competition having transacted 452,186ft² of office space in greater Nottingham alone over 51 deals.

FHP acted on the stand out deal of the year, the 278,000ft² pre let of Unity Square to HM Revenue & Customs on behalf of Sladen Estates.

Other notable deals transacted by FHP include letting of 1 Royal Standard Place to the University of Law of some 28,885ft² pushing headline rents in Nottingham through the £20 per ft² barrier, a key milestone for the City. FHP also acted on behalf of Chancery Gate in the letting of Waterfront House at Beeston Business Park to Go Daddy of 26,775ft².

The take up in Nottingham as a whole increased in 2019 as a result of these major deals, but there continues to be a significant lack of supply of offices in and around Nottingham City Centre and especially in the city core itself. FHP are working on bringing forwards a number of refurbished schemes into 2020 and already have substantial pre-lets in place on much of the pipeline stock and as such the squeeze on available supply is set to continue. Given the low supply levels squeeze we are seeing an increase in headline rents, with many new projects coming forwards likely to be pushing through £20 per ft².

For further information on the Nottingham Office Market please contact Mark Tomlinson or John Proctor in FHP’s Nottingham Office.

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