FHP concludes city centre investment sale

Eldon Chambers

FHP has sold a fully let office building at 7 Eldon Chambers in the heart of Nottingham City Centre in a deal it says is indicative of positive trends in the investment market.

The property has been let to Pure Aesthetics, a beauty therapy clinic which has been trading well out of the premises for some years. It comprises just over 116 sq m (1,246 sq ft) of accommodation over three floors and has been sold reflecting a yield of 7.5% after purchaser’s costs.

Mark Tomlinson, associate director at FHP Property Consultants, who concluded the sale, said: “There remains a strong appetite in the local market for investment property generally, especially affordable investments such as this which are readily available to cash buyers.  However, opportunities for cash rich investors are few and far between with many freeholders choosing to sit on their assets rather than release the cash given the lack of returns from other asset classes”.