Property news: a great place to invest and do business

June 1, 2017 4:13 pm

Summit Park

Ashfield and Mansfield enjoys a lively and affordable commercial property market, with opportunities for both investors and occupiers alike.   Whether you’re looking for somewhere to invest, grow your company or even start-up, Ashfield and Mansfield has lots to offer.

A place to invest

Legal & General Investment Management Real Assets (LGIM Real Assets) has recently sold its Gateway 28 scheme on Penny Way, Sutton-in-Ashfield to Merseyside Pension Fund.  Sold for a total of £15,940,000, this transaction reflected an impressive net yield of 6.47 per cent.  The 264,556 sq ft modern warehouse is let to Eurocell Profiles Ltd for a further nine years.  The building is located conveniently near to Junction 28 of the M1 motorway.

The sale completes the culmination of a highly successful investment management strategy.

Craig Westmacott is Senior Fund Manager at LGIM Real Assets.  He commented: “The fund purchased the asset in 2014 for £9.15 million with nine months remaining on the lease.  And simultaneously undertook a lease re-gear with the tenant. This asset management activity resulted in a substantial value enhancement. The business plan was completed, with the subsequent sale crystallizing excellent returns for our investors. The investment has provided a 33 per cent IRR since acquisition.”

Harris Lamb acted for LGIM Real Assets on this sale.  Justin Marshall of Harris Lamb’s Investment team, added: “This sale represents the completion of a lucrative project for our client. It also provides evidence of the continuing demand for good quality industrial investment assets. Furthermore, strong occupier demand and continuing supply shortage should mean enhanced rental growth prospects for the foreseeable future.”

CPP acted for Merseyside Pension Fund on the purchase.  Roger Haworth commented: “We are delighted to have acted in this high quality asset’s acquisition.  Moreover, it will provide an excellent investment return in the current market.”

International opportunity for occupiers

A range of property options were promoted back in March at MIPIM, including Berry Hill, CastlewoodHarrier Park and Summit Park.  MIPIM is the world’s largest property show held every year in Cannes.  As a result, it’s a great opportunity to showcase places to invest in Ashfield and Mansfield.

Summit Park

Enjoying excellent access, Summit Park is conveniently located adjacent to the Mansfield/Ashfield relief route.  Summit Park offers a wide portfolio, including industrial, office, logistics, leisure and roadside uses.

Spread over 45 acres, the development is designed to serve all business types, from small local firms to larger manufacturers.  The space offered is high class logistics and industrial.  Not only that, but Ashfield and Mansfield offers a high calibre workforce coupled with a low cost location.

Nick Sladen is Chief Executive of Sladen Estates.  He commented: “Summit Park offers a prime location for businesses.  In fact, due to its prominent position, some 20,000 vehicles pass the site every day.  Indeed it fronts the A617 between the towns of Ashfield and Mansfield, widely considered to be Nottinghamshire’s manufacturing heartland.

“Ashfield and Mansfield is very popular for industrial and logistics use thanks to excellent transport links with the rest of the UK.  In addition, the area benefits from relatively low rents, rates and wages – with a substantial multi-skilled workforce on the doorstep.  It is great opportunity for potential occupiers looking at this area.”

Units available will range in size from 20,000 to 600,000 sq ft, depending on each occupier’s requirement.  Summit Park connects to the national motorway network at M1 J28, which lies ten minutes away via the A617 and A38.  Detailed planning consent has already been granted and the site is fully serviced with infrastructure already in place.  Furthermore, Sladen Estates has a proven track record in delivering high quality, commercial buildings to meet the specific needs of all types of occupier.

Looking for property?

We understand that your business may be changing its focus, needing more space or even downsizing.  As a result, you’ll need to review your accommodation requirements.  The good news is that we’re here to help those looking to invest.  We can offer a totally FREE and confidential commercial property search across Ashfield and Mansfield.  We’re here to take most of the hassle out of this process, providing you with a tailored search of all properties suitable for your business.  Equally, you can perform your own online commercial property search or contact us and we’ll do it for you.  In addition, you might also be able to access our range of business grants, find out more here.

 

 

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