Commercial property specialists NG Chartered Surveyors have brokered a deal which has seen a prime industrial unit sold for well above the quoting price.
Unit 1, Tannery Road on the Giltbrook Industrial Estate in north Nottingham, has been successfully sold by a private pension trust to a private landlord for a price of £131 per sq ft. NG, which acted on behalf of the pension trust, and were also instructed to market the 3,251 sq ft premises to attract a new tenant.
The property is located on Giltbrook Industrial Park, a strategic and sought-after location within close proximity to J26 of the M1 motorway.
Giltbrook Industrial Park includes a range of occupiers including Auto Glass, Screwfix and Aston and Fincher and is adjacent to the popular Giltbrook Shopping Park with retailers such as IKEA, Boots and Starbucks.
Ellis Cullen, Surveyor at NG, said: “This was a very satisfactory deal for all concerned. The price we achieved for our client highlights the appeal of high quality, out-of-town industrial units – we’d urge any other landlords looking to reconfigure their portfolio to get in touch so that we can achieve a similar outcome.
“I’d like to extend my thanks to Mary Mowbray of Trewthowans for her invaluable legal advice on this deal and ensuring a great outcome for all concerned.”