Nottingham is the home of 50 corporates who are truly global players including Capital One, Boots Plc and Experian. They benefit from its central location, most of the country can be reached within a 2 hours drive. Its population of 630,000 is generally well educated and capable thanks in part to its 2 universities accounting for 60,000 students. Situated on the River Trent, Nottingham has some attractive waterside locations.
Nottingham Industrial Property
There is a good choice of Commercial Property in Nottingham, and much regeneration of the City's old property, which was associated with legacy industries has produced new space for business and residential uses. Industrial space is in short supply with less than 10% of the available space vacant and prime headline rents are around £5.50psf. Most of the recent industrial premises in Nottingham are located conveniently on the Western Side if the city allowing easy access to the M1 and the M42 motorway. The 3 main sites are Blenheim Industrial Estate, Lenton Lane Industrial Estate, and Southglade Food Park.
Nottingham Office Property
Offices have an over supply of all types except Grade A, and the secondary space rents are around £10psf, with prime headline Grade A property fetching £19.50psf. There is no new speculative development in the pipeline.
Nottingham Retail Property
Nottingham is the 5th ranked retail destination in the UK. There is an over supply of retail floor space available in Nottingham City Centre, with a current floor space of 2.8 million sq ft which is set to rocket by a further one million square feet, if all the consented developments take place. Headline prime retail rents have fallen to £205psf. in the city. There are 4 main complexes; Broadmarsh/ Victoria Centre, The Cornerhouse, Trinity Square and The Axis. A major redevelopment at the Broadmarsh is planned.
Leisure and Hospitality Property in Nottingham
Nottingham has a capcity of around 4,000 hotel rooms with a typical occupancy of 61% and an average room rate of £50, with many guest houses offering a wide variety of location convenience as well.
Thinking about the factors that you require carefully before starting a search for commercial property can save you time and effort. If you require finance to fund a commercial property purchase it is often best to seek some advice from a commercial mortgage broker to ensure that you are likely to be able to secure a loan for the portion of the offer amount, as banks are being very careful over how much they lend, and who they lend to. Thinking about these couple of points as you search through the property listings on UKBusinessProperty may help you choose the best possible property for you to rent or buy.