FHP have finalised on the remaining two units at Beeston’s Evelyn Street Industrial Estate, Southwest of Nottingham City Centre.
Both units comprise circa 5,500ft² of clear span warehouse / industrial space benefitting from office and ancillary areas. In order to achieve an attractive rental figure and set a new headline rent throughout Evelyn Street Industrial Estate, FHP’s client carried out a refurbishment to secure a rental of £8.00 per ft².
Initial interest in the units was slower than anticipated, FHP noted, although over time it was evident that the desire and need for circa 5,000ft² units had shifted and increased, generating a number of enquiries leading to several offers brought forward on both units.
Mission Room Ltd and Vaunt Design Ltd are the latest occupiers to secure a unit on Evelyn Street, with a further deal being agreed by joint agents CPP, Sean Bremner, for Unit 37.
Amy Howard, surveyor at FHP Property Consultants, said: “It was a great result to get both of these deals over the line for our client. After a slow start with interest, it was certainly challenging, but this quickly changed with an increase in enquiries and all three units going under offer within two months of each other.
“Securing a new headline rent for the site was also a positive for our client and further
highlights the industrial market rental tones rising due to limited stock availability. Secondary industrial units of this size bracket are achieving £8.00 to £8.50 per ft², it is evident there is limited availability of units within this size range as demand still continues to be on the rise.
“Both Vaunt Design Ltd and Mission Room Ltd worked with our client from initial discussions and developed a landlord-tenant relationship which is key to driving deals across the line. It was a delight to work alongside both tenants and I wish them all the best in their future endeavours.”
Sean Bremner, director at CPP, said: “Great to see Evelyn Street back to 100% occupancy. Working alongside FHP, we advised our clients on the essential refurbishment works and they have been rewarded for their investment. Enquiry levels got stronger with multiple
parties pressing to secure the final unit, reinforcing the growth in the rental tone. A fantastic result for the estate.”
