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News - 28/03/2019

In-demand industrial unit snapped up in rapid deal

East Midlands based property developer secures industrial unit in Nottinghamshire, in a deal which completed in just three months.

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The 8,000 sq ft unit at Daniels Way, Hucknall, was acquired by Rotherhill Developments. Rob Haigh, of Lambert Smith Hampton (LSH), and Jonathan Parsons, of WPA Surveyors, were appointed by joint administrators Ruth Harris and Nicola Kirk of Abbey Taylor in Sheffield, as joint agents to market the vacant unit.
 
Tim Gilbertson, Director of FHP, acted on behalf of long-term clients Rotherhill in swiftly identifying the opportunity and concluding the purchase.
 
Rob Haigh, Associate Director in Industrial Agency at LSH in Nottingham, said: “This was a rare opportunity to purchase a standalone industrial unit with a substantial and secure yard, ideally situated to access the M1 motorway. The site was suitable for owner occupiers, investors or developers, with the potential for further development, subject to planning, and as such, we were confident of generating significant interest in the site.
 
“We were inundated with requests for viewings and further information. A sale was agreed with Rotherhill Developments less than four weeks after going to market, a great result for our client.”
 
Rotherhill Developments is a commercial property development and asset management company, with proven expertise in delivering major development projects across the Midlands region. The Rotherhill portfolio includes mixed-use retail schemes through to major business parks.

The acquisition was overseen by Ed Jeffrey, Development Manager at Rotherhill. Ed said: “This is a strategic purchase providing a number of opportunities which we are currently progressing. The property has required clearance and partial demolition ahead of full refurbishment, with further expansion being considered. Full details will be announced in the near future, but our thanks to all parties involved for concluding this transaction successfully and swiftly. This purchase demonstrates our commitment to perform in a short timescale and we remain acquisitive for similar opportunities.”

Tim Gilbertson, Director at FHP, acted on behalf of Rotherhill. He said: “I was delighted to acquire this opportunity for Rotherhill, on whose behalf we have had terrific success recently acquiring and disposing of space from as little at 1,500ft² up to 70,000ft². They are very active in the market and this was a great deal for all concerned, evidenced by the speed with which the transaction was agreed and then completed. We look forward to announcing further plans for the unit and site in the near future.”