FHP Property Consultants report exiting times in the Mansfield secondary industrial market and in particular on the Albert Martin Business Park where further investment is being put into the business park by the landlords (Ivygrove Developments Limited) due to great success with lettings.
FHP’s client (Ivygrove) purchased the Albert Martin Business Park as a distressed secondary industrial asset and have pumped serious capital into this estate already since their ownership with more investment to come. This confidence coming from over 10 lettings completed on the estate by FHP and the high occupancy rates achieved. Currently on the market are Unit 5 (27,138ft²) and Unit 6 (25,052ft²) available individually or combined (52,190ft²), which the landlord has been refurbishing alongside demolition, strip out works, upgrade works to the offices internally and the removal of all registered asbestos. Work is close to completion on Units 5 and 6 and FHP are excited about the product available at the end of this refurbishment programme and round of capital expenditure, with all other units let on the estate.
Across the wider secondary Mansfield industrial market, in 2024 Anthony Barrowcliffe of FHP has personally let the following industrial properties in Mansfield which shows the demand for secondary accommodation:
Unit 2, Albert Martin Business Park – 13,702ft²
Unit 5A, Albert Martin Business Park – 11,663ft²
Unit 3, Langham Park – 26,024ft²
Unit 4, Langham Park – 13,937ft²
Unit 5, Langham Park – 13,998ft²
Units 1-3, Windsor Court – 40,133ft²
38 Brookhill Road – 10,020ft²
This space totals 129,477ft²
Anthony Barrowcliffe of FHP commented:
“So far in 2024 I have personally let 129,477ft² of secondary industrial stock in Mansfield with demonstrates that the secondary industrial market in this area is performing very well with huge amounts of interest for space within the locality priced between £4.00-£6.50 per sq ft.
I am already in deep negotiations/conversations with occupiers for Units 5 and 6 Albert Martin Business Park and have great space still available on the market including Portland Drive and Devonshire Court in Shirebrook, Bestwood Road in Pinxton and Queens Court on the Crown Farm Industrial Estate, to name but a few.
I am excited to keep pushing this side of the market especially in the Mansfield area with more really exciting properties to come such as Unit A, Millennium Business Park, Concorde Way, Mansfield which extends to 40,325ft².
I look forward to engaging with interested parties with the new stock coming as well as the existing stock on the market.”
