Midlands-based property developer and asset manager, Rotherhill, has completed the sale and letting of two industrial units at the Nottingham South and Wilford industrial estate.
The disposals follow Rotherhill’s acquisition of the units in February 2024. The property was purchased with residual income, with the two units combined and occupied under existing lease agreements that expired within six months of the purchase date. The two units are situated within a wider terrace and extend to 9,713 sq ft and 24,732 sq ft respectively.
Unit 21 (9,713 sq ft), comprising a modern warehouse with integrated offices and benefitting from extensive on-site parking, was sold earlier this year to Eden Tyres & Servicing.
Unit 22/23 (24,732 sq ft) has been let on a 10-year full repairing and insuring lease to Cellcom Limited. Cellcom is the official UK supplier for DJI, one of the world’s largest drone manufacturers, and Dreame Technology, a home appliances specialist.
The new lease will support Cellcom’s expanding distribution operations as well as its retail presence, with flagship outlets on Regent Street and in Westfield White City in London, and Corporation Street in Birmingham.
Both transactions involved collaboration with several Nottingham agents, Will Torr of heb, Tim Gibertson of FHP, and Sean Bremner of CPP.
Will Torr, partner at heb Surveyors, said: “Due to the strength of the location, units rarely trade on Nottingham South & Wilford Industrial Estate and this formed a significant part of the initial acquisition rationale. It has been a collaborative effort to see both units now occupied by thriving independent East Midlands based businesses.”
Tim Gilbertson, director, FHP, added: “A pleasure once more to help Rotherhill with the disposal of these units, a real team effort saw us identify and secure deals with the two eventual occupiers, both taking advantage of the fabulous ‘south of the river’ location that this estate offers in Nottingham.”
Sean Bremner of CPP said: “We are delighted to have secured Cellcom for Rotherhill. We were aware of this enquiry upon our agency appointment and worked hard to convince Cellcom this was the right solution to their requirement. We wish them every success in their continued business expansion.”
Ed Jeffrey, director at Rotherhill, said: “We’re pleased to have sold Unit 21 earlier this year to Eden Tyres, a large East Midlands family-run business, and to have brought a respected national occupier into Unit 22/23. It’s great to have helped facilitate their continued growth and success.
“The disposals are a result of the excellent advice provided by our retained agents, heb, FHP and CPP, throughout. These new occupiers add to the quality of the industrial estate generally and both transactions underline the continued demand for well-located, modern industrial space which is in short supply.”
