After an extensive search of the market and thorough negotiations, Tim Gilbertson of FHP Property Consultants has confirmed completion of the acquisition of a new 140,000 sq ft distribution centre at Worksop for Hancock Cash & Carry Limited. The acquisition of this space will enable Hancock to continue their growth and it’s another great news story for the region as an existing East Midlands based company takes on a facility.
Tim Gilbertson commented:-
“After an extensive search and detailed negotiations, I am delighted that we have finally pushed this deal over the line to acquire for Hancock Cash & Carry a further building of 140,000 sq ft in an excellent location close to the M1 at Worksop.
It has been a pleasure to deal with my clients on this instruction and to bring it to such a successful conclusion enabling them to continue their growth and success story despite the troubling times we have all encountered over the last few months is great to report.
They are currently fitting the space out and should be up and running shortly enabling them to consolidate their presence within the region and react efficiently and effectively to their client’s demands which have increased since the start of the year.
After having introduced to them any number of buildings and viewed many options too, it’s great that we’ve finally settled on a property that’s suited and it was a pleasure dealing with James Keeton of JLL and Rebecca Schofield of Knight Frank who acted on behalf of the outgoing Tenant to agree and conclude terms for a transaction.”
James Keeton of JLL, in conjunction with Rebecca Schofield of Knight Frank, acted on behalf of the outgoing occupier, Saint-Gobain, commented:-
“Working with our clients, we are pleased to have implemented an effective exit strategy on the building, ultimately relinquishing their interest and in the process enabling another occupier to utilise the space to grow their business. A good result all round.”
Supply Chain Director at Hancock Cash & Carry, David Nelson, commented:-
“It has been a pleasure working with Tim and the team at FHP throughout this project. The new site at Manton Wood will enable the Hancocks Group to continue its omnichannel growth while unlocking broader operational efficiency. On a backdrop of sustained Covid-19 business interruption it was a great relief to secure this site.”
Tim Gilbertson concluded by adding:-
“Acquisition work on behalf of occupiers often goes “under the radar”. However, when appointed to source, negotiate, and complete an acquisition of premises for occupiers it’s a very satisfying process and one which invariably ends up with a client who is grateful given the time and resources they would have to spend otherwise in undertaking such a role themselves and often treading well out their “comfort zone” in doing so.
Myself and all of my colleagues at FHP Property Consultants have undertaken numerous acquisitions for clients in all property sectors over the years and the market sector specific knowledge we have enables us, I hope, always to give the right advice and act expeditiously and effectively on behalf of clients throughout any sector.
Our acquisition work often goes unpromoted as frequently we are undertaking work for clients who don’t wish to publicise their property dealings but it’s always a very fulfilling and satisfying process when playing a small part in enabling a local occupier to expand, particularly when on such a scale as on this occasion.
David and his colleagues have been a pleasure to deal with throughout, I really wish them well for their continued success in this fantastic new 140,000 sq ft facility.”
