Tim Gilbertson of FHP has let a substantial former warehouse premises on Blenheim Industrial Estate in Nottingham to Red Kangaroo Trampoline Park on behalf of Property Alliance Group.
Acting jointly with Sean Bremner of CPP, Gilbertson brokered the deal which will see a major £1.6m investment transform the 40,000 sq ft property into a trampoline park, creating more than 70 jobs for the community.
He said: “This was a long-term deal where a change of use was required for the building, but the tenants are to be applauded for their tenacity in ensuring that the consent was obtained enabling this transaction to proceed.
“The location of the unit was ideal for Red Kangaroo, offering excellent links to Nottingham and their investment in the unit will create substantial employment in the area, more than would normally have been created by a standard warehouse operator taking on this building.
“We wish Red Kangaroo well and look forward to testing their trampolines shortly!”
Sean Bremner, partner at CPP, said: “Concluding this deal is a great result for our clients and gives Red Kangaroo an excellent property for their operations, reinforcing a pattern of diversification in users upon some established commercial estates. We wish them every success”.
Ian Hunter of Property Alliance Group said: “This property offered Red Kangaroo an ideal opportunity to set up in a prime location as part of its plans to roll out across the UK.
“The building’s size, flexibility and close proximity to major transport links, meant it ticked all of the company’s boxes, so will enable it to create a fantastic new venue which will offer huge benefits for the local community”.
Paul Wrightman, owner of Red Kangaroo Group, added: “We expect to start works shortly with a view to opening in June 2017. Our huge trampoline parks will offer lots of fun based trampoline activities with a few new surprises too! I am particularly excited about the job creation opportunities our park will attract and the healthy aspect of this leisure facility combining fun and exercise all in one!”
Red Kangaroo were advised throughout by Richard Morris of R Morris Associates.