GONE! ANOTHER WAREHOUSE SOLD AT J28 M1

News

The demand for freehold industrial/distribution space throughout the East Midlands continues to strengthen as supply of opportunities to buy of any size seems to reduce on a weekly basis.

FHP Property Consultants are delighted to confirm the latest sale of a substantial warehouse of just over 33,000ft² at Junction 28 of the M1 and just off the A38, where Tim Gilbertson has completed a further sale for a longstanding client to expanding local company Reliable Trading.

Tim Gilbertson commented:

“This is another good news story for both our vendor client and the purchaser as we have completed on the sale of over 30,000ft² of really good quality warehouse space just off Junction 28 of the M1 motorway.  This is the third deal I’ve concluded for this client in recent times and the speed of sale here again shows the strength of the market with opportunities to buy throughout Nottinghamshire, Derbyshire and Leicestershire truly limited.

Demand continues to be good and whilst we all wait and see what impact on the economy and property market the recent general election will have, certainly at grassroot level there is a real lack of space available to buy and a surplus of occupiers wishing to purchase.

Without reminding myself quite how old I am, I can honestly say that over my last near 30 years of working in this sector, I can’t remember a time when there were so few freeholds to buy throughout the region.  This is being reflected not only in the values achieved and speed of deals but also the number of design and build deals that we are now in discussions or have agreed with occupiers who have become frustrated at the lack of existing freehold stock on offer.

Therefore, any client old or new who is thinking of selling their warehouse or industrial unit then now might just be the right time as traditionally late summer through to Christmas sees demand strengthen again.

Equally, on a rental disposal basis, we are still seeing deals happen as well and stock levels there remain limited too.  Hopefully, these words and the good demand we are seeing across both tenures in the industrial and distribution sector will bring more potential clients to us who might want to take advantage of these favourable conditions.”

Paul Cai, Director of Reliable Trading, commented:

“RLB (Reliable UK) is excited to share that we have acquired our second freehold distribution centre, Unit 3 Fulwood Rise, Sutton in Ashfield, Nottingham. Starting in a small unit in Eastwood back in 2013, we have now become the largest UK trade supplier of underfloor heating and renewable products. Our Managing Director, Ke Cai, has been leading the company since its inception, and our dedicated Sales Manager, Martin Hawksworth, joined us in 2015.

 The rapid growth of our business in recent years, especially with the increasing use of heat pumps in the UK, has been truly remarkable. We are thrilled about our upcoming milestone of opening our first EU distribution centre in 2015. Here’s to continued success and expansion for RLB in the future!

This is the second building we have purchased through FHP and my thanks to Tim Gilbertson again, it has been great to work with FHP once more.”

On each of the three disposals for our client at Junction 28, Sarah Parkinson, Head of Real Estate at Browne Jacobson, acted with us and was extremely efficient and a pleasure to work with throughout.  That close relationship no doubt helped us secure the three deals for our client.

Sarah Parkinson, Head of Real Estate at Browne Jacobson, said:

“We have been pleased to advise our longstanding client here for decades.  Personally, I’ve been delighted to act on the disposal of all three warehouse units at Fulwood Rise and to realise the investment value for our client.  Getting the final unit over the line has felt like the end of an era!”

I am always happy to chat through the market and how we might be able to help and can be contact on 07887 787 893 / tim@fhp.co.uk.

ENDS

Tim Gilbertson

11 July 2024