INDUSTRIAL/WAREHOUSE UNIT SOLD IN NOTTINGHAM

Industrial/Warehouse News

I am really pleased to announce the sale of 15 Northern Court, Basford, Nottingham which comprised a detached industrial/warehouse unit with large yard extending to 4,018ft².

This property was held long leasehold on a term of 125 years from 14 April 1989 with an unexpired lease term of 91 years.

The property was a steel portal framed industrial unit built in the 1990s with ground floor offices, reception and welfare space with the opportunity for the occupier to fit out the first floor offices if required.  The unit was sat on a large plot with the potential to extend the building (subject to planning), to construct a new building or hard surface the land, therefore there was a lot of opportunity/scope with this site.  The general specification of the property included:

• Clear span warehouse space
• Circa 5.1 metre eaves rising to 6.5 metres at the apex
• Ground floor offices with the potential to fit further offices to the first floor
• Front/side/rear yard
• Possible expansion of industrial unit/erection of new building (subject to planning)

Anthony Barrowcliffe of FHP commented:

“This was not an easy property to sell being a long leasehold interest held with the Local Authority.  The long leasehold originally had 125 years left remaining from 14 April 1989 with an unexpired lease term of 91 years.  Although there was no ground rent there were certain covenants in place which proved difficult during the process.  However, I am absolutely delighted that we managed to overcome these and sell this property to the neighbouring occupier, David Brewer of DL Mechanical Nottingham Limited.   

Although problematic at times and obstacles presented themselves along the path, I am really pleased that as a collective we managed to overcome these.  It shows with the right buyer, the right seller and with the right attitude and teamwork throughout we can all work towards a common goal.  I am pleased that we have managed to sell this property on behalf of my clients and wish David Brewer all the luck going forwards in his expansion and for the future of his business.”  

For further information on this transaction or to see how FHP can help you with your property matters, please contact Anthony Barrowcliffe of FHP on 07557 972008 / anthony@fhp.co.uk.