AN industrial warehouse on one of North Nottinghamshire's most prominent business parks has changed hands in a deal which illustrates the continuing high demand for top quality buildings.
Unit 2 Hamilton Place is a detached and self-contained industrial warehouse unit on the Oakham Business Park in Mansfield. It extends to 24,542 sq ft and was constructed seven years ago in a joint venture by leading developers Sladen Estates and Peveril Securities.
Sladen and Peveril have built a number of successful industrial and business developments in Nottinghamshire and Derbyshire. The Hamilton Place unit was sold on their behalf by Laura West of the Nottingham property consultancy FHP.
She said: "This is a very high quality property in a desirable location and the fact that we received sustained and serious interest from the start was no surprise.
"Sladen Estates and Peveril Securities have an enviable track record in delivering impressive developments in strategic locations and this building on the Oakham Business Park is no exception. The challenge the market faces at the moment is that there is a dearth of new supply, so when units like this come on to the market, the demand is already there.
"Sladen is currently working on another major site close by and I have no doubt that the appetite for new space is such that demand will be high."
Matt Sladen of Sladen Estates commented: “As soon as we brought the unit to the market we were highly confident that we would quickly find a purchaser for the property. The unit attracted high levels of interest from day one and was soon put under offer to the eventual purchaser.
“We believe this demonstrates the pent up demand in the market for good quality space which our new scheme, Summit Park, is strategically placed to satisfy. Summit offers high quality industrial and warehouse premises ranging in size from 2,500 sq ft up to 600,000sq ft on a build-to-suit basis and we welcome the opportunity to talk to any potential occupiers who may have a requirement.
“I’d like to thank both Laura and Scott for the hard work put in for both parties to get the deal completed as quickly as practically possible.”
Oakham Business Park hosts a variety of businesses and organisations, ranging from engineering firms to the i2 business incubator.
Its popularity has been driven by a mix of high quality buildings on a site which is close to Mansfield and near to major road networks including the M1, A38 and the Mansfield-Ashfield relief route, which provides a link to the A1.
Scott Osborne from Innes England acted on behalf of the purchaser in the deal. He said: “Our client was keen to take this space which is close to the road network allowing great access in and out of the county. There are few properties of this quality and size on the market.
“Like the rest of the East Midlands, the Nottinghamshire industrial sector is strong but lack of stock is an issue. Stock levels are running down because firms still aren’t building them to the levels they were pre-recession – but we are confident we will see new build industrial stock being created across the East Midlands in the coming months.
“It’s important that that we find buildings suitable for those firms with long standing requirements which enables them to grow. The building is the start of the cycle… it’s not easy for businesses to grow if they don’t have the space. And it’s important that we keep our East Midlands talent local.”