Another deal has concluded around the Junction 28 area. FHP’s Tim Gilbertson has sold space on Lower Oakham Way in Mansfield facilitating the expansion and relocation of the as yet undisclosed buyers.
Within 2-3 days of marketing commencing the buyers were identified and swiftly agreed a deal to purchase the property. With solicitors instructed shortly thereafter, the whole process from bringing the property to market to completing the sale has taken less than a couple of months.
The speed of this deal and the strength of interest created in the building shows the continued demand for space in the region, particularly to purchase. Tim Gilbertson of FHP, who sold the building, said: “I was delighted to be offered the chance to sell this building on behalf of our clients and am equally pleased that our initial advice in terms of pricing and a timescale for a disposal were achieved and exceeded.
“Mansfield, Kirkby in Ashfield, Sutton in Ashfield, in Nottinghamshire and on the Derbyshire side Alfreton and Somercotes and surrounding areas, all which from part of the Junction 28 industrial and distribution market, really are top performers in the region at present.
“Property is certainly in demand both to rent and buy and new development is desperately needed to fill the void in supply as we have continued to receive strong demand from potential buyers and tenants throughout the summer which hopefully will continue throughout the year and beyond.
“This sale was particularly satisfying as the purchasers were a pleasure to deal with throughout and it is always great to sell any building to an expanding local company.
“I wish the new owners great success in the building and I am sure it will be terrific acquisition for them.”
FHP acted on behalf of a pension fund selling the building and their spokesman said: “I am delighted with the outcome here, Tim Gilbertson and colleagues at FHP have done a great job and I cannot recommend them highly enough. Not only did they meet and exceed our expectations in terms of price and timescale but I also instructed them to negotiate the surrender of the current occupier’s lease which they dealt with equally efficiently.”