Acting on behalf of private clients, NG Chartered Surveyors has sold a 25,415 sq ft warehouse and industrial unit on Nottingham’s prestigious Apollo 26 Business Park to investment vehicle Mancot.
The deal represents a double for NG on the building, after the commercial property specialists recently brokered a deal which saw Northgate Public Services (NPS) take a 10-year lease on the property.
The transaction represents yet another key deal completed by NG Chartered Surveyors in the East Midlands.
Director Sunny Landa says: “We were able to secure a straight 10 year lease with Northgate with guaranteed uplifts so we achieved a good yield for the building. Our client’s primary goal was to achieve a sale on the building, and we’re delighted to be able to facilitate that.”
The NG team is fast forging itself a reputation as specialists in the industrial sector of the commercial property market whether it involves providing advice on design and build schemes or in the dirtier second hand market.
The numbers speak for themselves; in the last 12 months NG has completed 50 shed deals totalling some 500,000 sq ft with almost all of them being on its home territory of the East Midlands.
Sunny added: “The industrial market remains strong with a continued shortage of good quality, modern space. My prediction for 2015/16 is that prices will continue to rise both freehold and leasehold with rents hardening and incentives reducing, it’s looking like it’s going to be a landlords market once again.”
Mark Rooke of MK2 Real Estate acted for Mancot. He said: “Our instructions were to identify and secure modern, quality industrial investments let on long leases to good tenants, this property ticks all the boxes. The rent review provisions provides for rental growth and tenants investment within the unit make this a very safe and attractive investment.”
Apollo 26 is located on the eastern side of Cinderhill Road, approximately two miles from Junction 26 of the M1 Motorway, via the A610 dual carriageway. To the west of Cinderhill Road is the successfully established Phoenix Business Park and just 500m away is the Cinderhill NET Stop, providing a fast modern tram connection with Nottingham City Centre and the mainline rail station.
Apollo 26 is just 15 miles from East Midlands Airport, the UK’s second largest air freight facility.