Commercial property specialists Phillips Sutton Associates has kicked off 2016 by brokering four key East Midlands deals.
The Leicester-based agency has let the remainder of the first floor suite at Charnwood Court, New Walk, Leicester, to fast-expanding “niche” bank Cambridge & Counties who specialise in lending to businesses secured on property and business assets, on behalf of its clients Bunbury Holdings.
Cambridge & Counties is benefiting from a strong economy and property lending market and came to Phillips Sutton Associates to help grow the business further. The Bank has used the extra space to hire several high-profile staff in its Leicester office.
Meanwhile, in Northampton, Phillips Sutton has let a 3,500 sq. ft. unit at Grafton Trade Park to the Northampton MOT Centre on behalf of CBRE Global Investors. Phillips Sutton Associates was appointed as joint agent on Grafton Park with Underwoods in July 2015. Both remaining available units on the business park are now under offer.
Phillips Sutton Associates has also advised a private investor on the acquisition of a ground floor retail unit with uppers at Queens Road, Leicester. This off-market deal was completed within just one month, and the investor is planning to refurbish the unit before it comes back on to the market. Phillips Sutton will also be marketing the refurbished unit.
Finally, acting on behalf of receivers, Phillips Sutton Associates have advised on the sale of 47 Clarence Street in Leicester city centre to a private London-based developer. The 6,914 sq. ft. building was sold for £400,000 and is set to be redeveloped into residential apartments.
Sam Sutton, director at Phillips Sutton Associates said: “These four deals are a great way to kick off 2016. The economy in the East Midlands is booming, and this is reflected in the number of investors pouring money into the region, which in turn is great news for tenants looking to expand. We’re looking forward to working with our clients to complete more deals over the rest of the year.”
