Opportunities to rent good quality warehouse or production space on a large site are always sought after in every area of the East Midlands market, so when given the chance to dispose of good quality production space on a large site in Linby close to Junctions 26 and 27 of the M1 motorway, Tim Gilbertson and Chris Proctor always anticipated strong interest in the building.
This expectation turned into reality having to turn down any number of disappointed parties for the building with a letting now completed to QTS Group Limited one of the country’s leading railway contractors providing specialist services across a range of areas.
With the deal moving from agreement of terms to completion and handover of keys within a matter of weeks, this is a deal that has hugely suited both landlord and tenant alike as Tim Gilbertson and Chris Proctor of FHP Property Consultants commented:-
“We put this property under offer originally within a couple of days of it coming to the market towards the end of 2020. Unfortunately, our original intended tenant couldn’t proceed which is always a disappointing message to have to convey to clients. However, we were confident that we could quickly replace this tenant as we had, as all good agents should, kept in touch with the market and ensured that there was at least one fallback option to take the building on. As ever, when that situation happens it’s always frustrating to have to inform clients of the need to ‘go again’ but equally, it’s great to be able to make another potential tenant happy and conclude a deal as we have done this time around with QTS Group. QTS have been a pleasure to deal with throughout, performing admirably as our clients and their solicitors have as well to ensure rapid exchange of contracts to enable keys to be handed over within a few weeks of the property coming back available again.
It’s yet another example of the strength of the local market and the speed of lettings, demand ranging across all sizes and locations throughout the East Midlands in what remains a pleasingly strong market where demand is far outweighing supply. Hopefully we will have the chance to market similar premises in the near future as properties with large yards/car parks are always very well received and very much sought after.”
Thomas Marshall, Operations Director at QTS, commented:-
“Signing the lease on Baxter House is a pivotal moment for QTS, in terms of our planned growth and our commitment to Nottingham. The site itself is perfectly located and the property provides us with the space we need to house our equipment and our people, when the time is right for us to fully return to the office environment. Thank you to FHP for making the transition of this deal go smoothly and we look forward to making Baxter House the hub of our operations in England.”
Matthew Wrigley from PMW Property, the Landlords, commented:-
“Baxter House received a lot of interest both from a letting angle and interest from purchasers. The QTS offer made a lot of sense with a highly established tenant looking to invest into the property long term and make the premises its Midlands HQ. We look forward to working with QTS in the coming years and once again a big thanks to Tim Gilbertson and Chris Proctor of FHP Property Consultants who sourced and negotiated this deal on our behalf.”