Having sold the freehold investment in Flying Horse Walk to Nottingham City Council on behalf of London and County Nottingham LLP, FHP property consultants have been retained as managing agents for the shopping arcade.
FHP’s management department are now responsible for all 18 commercial units in the recently refurbished shopping arcade, which collectively generate a 7.76% net initial yield for the council to invest into the city, with potential for rental growth in the current market.
Flying Horse Walk is just another one of the schemes to support Nottingham’s independent retailer population, which is higher in number than Leeds, Liverpool, Birmingham and Newcastle. It combines expanding local companies such as the craft beer shop ‘Brew Cavern’, ‘Brik Barbers’ and Nottingham based fine jewellery specialists ‘Cathy Stephens Jewellery’, alongside high profile operators including Vivienne Westwood’s flagship store.
It is just one of the retail schemes that FHP have been heavily involved in from marketing through to management, including the value led ‘Eastpoint Retail Park’ at Sneinton in Nottingham, where FHP fully let the site before completion and were retained as managing agents.
Rob Spencer of FHP’s management department comments:
“We are really pleased to be managing such an iconic property within Nottingham’s retail scene. We look forward to working with the unique mix of retailers in the scheme and Nottingham City Council to build on the success of the scheme over the last couple of years.”