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Rotherhill charts course for a successful 2024

Rotherhill charts course for a successful 2024

Midlands based property developer and asset manager, Rotherhill Developments, has had a successful first half of 2024 with a number of acquisitions.

Sites purchased include industrial premises across Nottinghamshire, Rugby, King’s Lynn, Barnsley and Leicestershire; the acquisitions have been opportunistic, and have broadened the geographical reach of the business.

Of the six sites, five are income producing with short to mid-term lease events and present Rotherhill with asset management opportunities.

The premises in Rugby are currently vacant. Rotherhill have now placed a build contract in excess of £1m to future-proof the premises and once completed will make the site one of the few circa 50,000 square feet institutional industrial units within the golden triangle with excellent road access.

Commenting on the first six months of the year, owner, Paul Bagshaw said:

“It’s been a busy period for us having recruited Stuart Waite from Commercial Property Partners, promoting Ed Jeffrey to Director in recognition of all his hard work over the last five years, and in addition, managing to acquire six assets totalling some £15m with our long-standing partners and funders.”

“The assets purchased have widened our geographical spread from King’s Lynn to Yorkshire and the lot sizes have been in our traditional ‘sweet spot’ of £1m to £5m.”

Commenting on the current activity and the industrial sector of the commercial property market in general, Director, Ed Jeffrey, said:

“Whilst the occupational and investment markets are rebalancing, there remains a good level of activity in the small to ‘mid-box’ industrial sector, which is our key area of focus.”

“We are continuing to see good buying opportunities, with and without income, for well-located existing industrial units that are sub 75,000 square feet, up to 30 years old and in need of refurbishment and improvement.  At the smaller end of the market, the lack of new supply over the last 10 years, coupled with current development viability constraints, presents short term reversionary rental potential for standing stock and a positive outlook for future growth in both rents and capital values.”

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