A comment regularly heard in property circles throughout not only Nottingham but also the County, East Midlands and almost Country wide, is that lack of stock is driving quick sales and lettings as demand improves for industrial and warehouse space throughout the region.
Nowhere has this been more clearly shown than with a deal concluded at Finch Close just off Lenton Lane, Nottingham’s prime industrial estate sitting adjacent to Nottingham’s Ring Road and within minutes access of the City Centre, where Tim Gilbertson has completed the sale of good quality warehouse and office accommodation on a substantial site to expanding local company Snowden Healthcare.
Why does this deal exemplify the market? Simple, the property was put ‘under offer’ within a matter of days of coming to the market with potential purchasers queuing up for such a sought after and rare visitor to the market.
Tim Gilbertson commented:
“With so little industrial and distribution space to purchase throughout the region, whenever a good opportunity comes to the market such as this one at Finch Close, then if marketing is effective strong demand can be expected from the off. This was certainly the case with this opportunity and when I was invited to place it on the market my initial reaction was that it would sell well and at a strong price given its prime location on probably the best estate in Nottingham, certainly the one with the best road links, whilst also on a large site, which always appeals to potential buyers.
A deal was quickly agreed and solicitors instructed with a local company, Snowden Healthcare, to facilitate their expansion and relocation and we wish them well in their new base.
I have no doubt that due to their diligence and quick response to purchase they have not only secured an excellent base for their long term business growth but also will see increased values in the future as this simply is, in most occupier’s minds, as good a location as there is in the County, with terrific road links, access to the City Centre within moments and a location augmented further by the arrival of the new tram line.
The only frustration with this deal is the number of parties that we now have still ‘queuing up’ for similar buildings and stock, rather than demand, is the biggest hurdle to overcome when trying to piece deals together.”
Tim Gilbertson concluded:
“The market continues to be strong and we expect to announce further deals similar to this later in the year as demand continues to improve and stock remains poor. Values are certainly rising in terms of both capital and rental figures and this trend seems likely to continue.”
