A high-specification, modern detached distribution warehouse located at Sherwood Park, Nottingham, with direct access to J27 of the M1. The 217,000 sq ft unit benefits from 11.4m eaves height and the space comprises ground-floor warehouse space, with two mezzanine floors of c.31,000 sq ft each and substantial yard and car parking space.

Key statistics

Valuation
(31 March 2021)

£17.6m

Valuation
(31 March 2020)

£11.8m

Area
(sq ft)

217,000

Contracted Rent
(31 March 2021)

£1.0m p.a

Key
Occupier

DFS Limited

Occupancy

100%

Why did we buy it?

Sherwood Park is one of Nottingham’s dominant business locations, with existing occupiers including Babcock, Dell, Eddie Stobart, L’Oreal, and SPS Aerostructures. Nottingham and Derby are under 20 miles away and East Midlands Airport is a 20-minute drive. The building offered a number of redevelopment and refurbishment options, to appeal to a wide variety of occupier requirements.

What have we done since purchase?

We have undertaken a rebranding and marketing exercise and secured planning permission for alterations to the site, including an option to extend the building by over 20,000 sq ft. In June 2020, we completed a short-term letting to DFS and then worked with the occupier to secure a longer-term lease for five years from March 2021, as they continue to focus on the growth of e-commerce.

What is the future?

As part of the new letting to DFS, we will undertake £1.6 million of significant capital refurbishment and upgrade works, working with the occupier as it operates from the unit. The works will include:

  • stripping out previous alterations, electrical remediation, and other statutory upgrades;
  • significant alterations to the west elevation of the building, to reconfigure the car park into a concrete service yard; and
  • addition of ten new dock levelers and two-level access doors.

Sustainability features

  • EPC rating of C
  • Car charging points to be installed as part of our refurbishment works
  • Energy-efficient lighting installed and electrical circuits upgraded