Tuesday 16 July 2024
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Nottingham

Bridgford Business Centre sells for £1.1 million

FHP acting on behalf of Bridgford Business Centre have completed the sale of 29 Bridgford Road, West Bridgford.

The two-storey building, which totals 5,525 sq ft gross (4,028 sq ft net) and benefits from eight site parking spaces, was sold Freehold.

David Hargreaves who acted for the Vendor, Kevin Mansworth, said:

“When I reported to Kevin I suggested that the property would be of interest to not only office occupiers but developers looking at extending and converting the building to apartments or additional bar and restaurant units bearing in mind the strength of that sector.

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“We therefore targeted the office, residential, leisure and developer sectors with our marketing and interest was immediate with 12 viewings in the first week alone.

“As such we were able to seek “Best Bids” only four weeks after the launch, securing five final offers all over the guide price of £975,000.”

Hargreaves said:

“We quoted a relatively low asking price to generate interest as the market back in October last year was still rather uncertain due to the significant increases in the base rate and the general lack of confidence in the economy.

‘The strategy worked and we achieved a price in excess of £1,100,000 for the building which breaks back to £280/sq ft net which we are delighted with.”

Kevin Mansworth said:

“The strategy and advice from David Hargreaves was absolutely spot on.

“He also introduced me to Lisa Poole of Gunner Cooke who was excellent on the legals, with Landsmiths on the other side we managed to get the sale completed within 10 weeks of starting marketing which included the Christmas and New Year break.

“I am really thrilled with the speed of the sale and price they achieved for me.”

Vik Moothia of Landsmiths acted for the buyer, David Hargreaves of FHP and Lisa Poole of Gunner Cooke for the seller.

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