The sale of a popular mixed industrial site in Nottingham signalled the latest foray north for one of the Midlands’ leading commercial property agencies.
The completion of the sale of Daleside House in Calverton highlighted the continued expansion of Coventry-based Bromwich Hardy beyond the firm’s traditional Warwickshire patch.
Daleside House, in Park Road East, was sold for £2.5 million, which included the sole asset company Park Road East Developments Ltd which owned the site.
Bromwich Hardy consultant Charles Smith, who handled the sale, said the site had offered a tremendous opportunity for asset management.
He said: “Daleside House has enjoyed consistently high occupancy levels over the years, with many of the tenants of the larger units having been on the site for many years.
“It is in a designated employment zone and offers lots of potential for a good yield on the investment.”
Alan Masters, a director for vendors Park Road East Developments, said the sale had been handled efficiently and effectively by Charles.
He said: “From the beginning, Charles was very professional and friendly, gathering all the information required to enable our profile and sales pack to be completed back at Bromwich Hardy offices in readiness for prospective buyers.
“During the sale process Charles made sure he came over for all the viewings and was instrumental in obtaining the best possible result for the shareholders of our company. Discussions between the buyers and Charles culminated in several offers being put forward.
“During the fine details as the deal progressed Charles was always there to advise the shareholders and communicate with the buyers and our solicitors on our behalf to enable the final deal and conclusion to be achieved.
"To all at Bromwich Hardy, and especially Charles, we are grateful for all the hard work they have committed into this sale on our behalf.”
Daleside House is a large industrial, warehouse and office building sub-divided into individual units. The site is fenced and gated and includes a 50-space car park. To the front is a two-storey brick office block, with the industrial and warehouse units in a ‘U’ shaped block around a central service yard and parking area.
In all, there are 41 individual offices or units, including nine larger self-contained warehouse and industrial units. Most of the buildings are steel portal frame construction but some parts have a concrete frame.
The site is in Calverton, a village about seven miles north-east of Nottingham city centre and ideally situated to link to the East Midlands transport networks.
The sale of Daleside House was the latest deal concluded by Bromwich Hardy in the north of England. Working on behalf of Socotec UK Ltd, Charles has also worked on three deals in the Doncaster area, including the sale of a site on Askern Road and an office building on Hexthorpe Road, and advising and negotiating a lease on a warehouse on Wellsyke Road.
Tom Bromwich, founding partner of Bromwich Hardy, said: “Congratulations to Charles for successfully concluding the sale of Daleside House. This and the deals he worked on in Doncaster prove that Bromwich Hardy is a trusted name far and wide, and I look forward to broadening our reach into even more areas in the future.
“Our team are all well respected in the field, and it is great that Charles could use his experience and his contacts to make inroads into a new area for us.
“Bromwich Hardy is going from strength to strength thanks to the talent and expertise we have in our team.”