FHP SELL MULTI LET INVESTMENT

Investment News

 

19 Stoney Street is a multi-let period building predominantly made up of office accommodation from ground to second floor with a bar in the basement.  The sale has just completed to the owners of the adjoining building and represents excellent value as according to FHP the building income has potentially been increased from its current level at £53,000 per annum to in the region of £70,000 per annum.

At the time of the sale the ground and second floor were vacant with the rest of the building let out and this vacant space allowed the owners of the multi-let building next door to increase their presence in the area and their ability to let space out, allowing them not to miss out on any enquiries that came through whilst their current building was full. 

This sale is the latest in the line of insolvency sales of period offices that FHP have been involved in including 15 High Pavement and 20 Park Row which were both similar style period buildings.

James Hartley of FHP commented:

“It is pleasing to complete the sale of this property and this is the third recent insolvency sale we have achieved on  a period building within Nottingham City Centre and it appears as though they do attract a good deal of attention.  This insolvency sale on behalf of the Fixed Receivers was part of a large portfolio that FHP’s insolvency team are working on and we look forward to announcing the sale of further properties within this portfolio in the future.”

If you are looking for any advice or information on your property where it is related to insolvency or not, whether you are purchasing or looking to sell then we have a team with in-depth knowledge across the commercial property market who can help you with this and please do give us a call on 0115 9507577.   

Fixed Charge Receivers were advised by Noel Roper and James Hartley of FHP throughout the entire negotiations.

END

James Hartley

Date:  13 June 2011