Acting on behalf of Chicco, one of the UK’s leading names in baby care, and part of the Italian owned Artsana Group, Tim Gilbertson of FHP has just completed the sale of their former warehouse in Nottinghamshire which offered over 40,000ft² of space on a large 3 acre site.
The conclusion of the deal enables Chicco now to consolidate their warehousing operations and take on a new head office and showroom as they continue to grow and expand throughout the country.
Their former site has been sold to UK Home Shopping, another expanding success story who take on the space to meet their growing order book and need for further warehouse accommodation.
Tim Gilbertson of FHP brokered the sale and commented:
“The sale of this substantial site and premises is further evidence of the increased activity in the warehouse and industrial market throughout the East Midlands.
A sale of 40,000ft² is normally celebrated but in particular this one was a deal that created substantial satisfaction for us and our clients as it enables them to continue with their planned growth and expansion throughout the UK and reconfigure their current UK operation. Their former accommodation has been sold to UK Home Shopping which in itself is further cause for success given that this is an expanding local company once more taking on additional space to meet a growing order book.
This positive theme mirrors the state of the industrial and warehouse market throughout the East Midlands as we continue to see deals agreed and concluded across the board in this sector.
Indeed, there is now a real shortage of space coming to the market to meet the growing demand and with banks now becoming more active in terms of commercial lending there is no doubt that demand will continue as we enter the third quarter of 2014, and with no ‘quick fix solution’ to the lack of supply it is likely that we will see rents and capital values start to rise.
The increased demand is leading to many local developers contemplating for the first time in many years speculative development and given the improved economic picture throughout the region and indeed nationally there is certainly a great chance for any developer brave enough to take this step to catch the market and provide the new stock that is urgently required throughout the East Midlands.
We wish our client and the purchaser well and would be delighted to hear from any party considering renting or selling their premises as a positive diagnosis of the state of the market from a landlord or vendor’s perspective can certainly be given”.
