FHP Property Consultants have reported that recent activity in the market has shown a marked increase in freehold office enquiries and transactions among small to medium sized enterprises. This trend, which has been steady for some time has recently flourished in activity over the last 6-9 months.
Mark Tomlinson of FHP Property Consultants commented: –
“We have concluded and are due to conclude a number of freehold office transactions around Nottingham City Centre and the immediate city fringe following an increased appetite among local businesses to acquire freehold assets, many of whom looking to purchase through their Pensions. Recent activity includes a conclusion of 3 sales at Poplars Court on Lenton Lane just off Nottingham Ring Road with no further freehold units now available. We also achieved a sale in the professional quarter of Nottingham achieving 15% above the asking price following competitive bidding as well and concluding transactions on Clarendon Business Park, Churchill Business Park and have more properties due to be sold in the coming weeks.
This activity is not only fuelled by increased appetite among local businesses to purchase but also the lack of properties to buy generally. This lack of supply coupled with a dearth of new development is allowing values to creep upwards and vendors can now afford to be far more bullish on pricing than at any point since the start of the recession.
If you have a requirement for an office to purchase in Nottingham City Centre or in the immediate fringe we can now only offer a handful of options varying in size in the whole market, whereas some 2 years and enquirer would have quite a number of options to choose from.”
