PROPERTY DEVELOPER’S MOVE HIGHLIGHTS FREEHOLD SHORTAGE IN NOTTINGHAM

Added by Love Business East Midlands | 10 November 2017

UPDATED: 10 November 2017

GROWING property development company, Hockley Developments, has moved to a larger office as it paves the way for future expansion, following a deal overseen by Innes England.

Ross Whiting, surveyor at Innes England; Alan Forsyth, managing director at Hockley Developments; Andrew Springhall, owner at Blusource; and Laura Jardine, surveyor at Innes England

The company – which is expected to build 80-100 properties in the Nottingham area over the next 12 months, with the focus on affordable properties for first time buyers – has been based in Crusader House, Thurland Street, since it was set up in 2012.

However, it has now purchased a new 4,155 sq. ft. office in 13 and 15 Clarendon Street, Nottingham, after the business outgrew its former building following the expansion of its team.

Alan Forsyth, managing director at Hockley Developments, said: “We have been growing over the last 12 months and have recruited further staff including an in-house architect, a contracts manager and a customer service manager.

“Because of this, we have been actively looking for new office premises for the last six months. The new building will allow our team to expand and continue to deliver good quality property in Nottingham at affordable prices.

“This property ticked all the boxes as it is freehold, easily accessible and in a central location. It comes with plenty of space which will allow our team to grow further – and has an excellent parking ratio which is rare in the city centre. We upgraded the flooring and redecorated internally, plus repainted and branded externally. Our team are delighted with their new offices.”

Recruitment company Blusource – which has seven offices across the UK – had been based in the building since summer 2009.

Owner Andrew Springhall said: “Recently we had a reorganisation of our property portfolio and decided to sell the building. Blusource will still be based in the building as we have sublet some of the space.

“The building is in the perfect location with an NG1 postcode and it has ample parking spaces.”

Ross Whiting, surveyor at Innes England, who managed the sale, said the building had a lot of interest due to a shortage of freehold properties available in Nottingham, and more specifically the city centre. The deal was completed in just six months.

He added: “The converted Georgian building has parking spaces for 18 vehicles and also provides excellent transport links with connections to Nottingham’s tram network, which is only a short walk away, and several bus routes in and out of the city centre.”

Laura Jardine, surveyor at Innes England, who oversaw the deal, said: “We also sold the property next door – 11 Clarendon Street, another freehold Georgian conversion – in March this year. Both of these sales highlight the massive shortage of freehold stock available in the city centre.”

Find out more at http://www.innes-england.com or join the conversation at @InnesEngland.

< Back