Acting on behalf of investor clients Tim Gilbertson of FHP has started 2015 with the sale of substantial former production space on Heanor Gate Industrial Estate, with the major sale of 37,000 sq ft complete.
This deal continues the very positive tone of the industrial and warehouse market throughout the East Midlands at the end of 2014, with demand for space from both purchasers and tenants strengthening whilst the supply of space continues to diminish.
This positive start to the New Year is now being reflected by market conditions as we are starting to see both rents and capital values nudge up in a scenario which is likely to continue for the foreseeable future given the negligible supply of new build space in the pipeline, low levels of existing stock and the continuing increase in demand from all sizes of occupier in the industrial and distribution sectors.
Tim Gilbertson of FHP who acted on behalf of the vendor commented:
“After a very positive end to 2014 I was delighted to see this deal complete and continue that positivity into the New Year.
The deal concluded sees a local occupier expand further with the acquisition of 37,000 sq ft close to their current base and we wish them well in their new accommodation.
The deal is a real reflection of the current economic condition throughout the East Midlands and at present at least it does seem as if the market is strengthening with increasing demand.
Whilst on face value this is great news for the local property market, the lack of available space is a real challenge and whilst in previous years we have been faced with the major problem of too much space and not enough potential occupiers, the converse now applies where we are seeing strengthening demand, almost on a daily basis, with little or no supply coming through.
I would be delighted to hear from any potential vendor or landlord as now is a great time to market your property with both rents and capital values starting to rise in this improving market.”
FHP acted for private investor clients and their spokesman commented:
“This was a fantastic deal and Tim Gilbertson and FHP have performed superbly. There is no doubt that we couldn’t have done the deal without Tim and his efforts have gone above and beyond the call of duty.
We can only thank him most sincerely and would recommend his services to any potential landlord or vendor.”
