Period Properties Peak in Popularity
30th March 2012
Nottingham buildings are steeped in history. From Nottingham Castle and the Old Courthouse to the Council House and old mills and warehouses of the Lace Market, Period buildings make up so much of the city’s infrastructure.
The buildings which formerly housed big industrial city centre businesses – or were originally built as homes for wealthy Victorian business people – are still playing a huge part in Nottingham’s hub of industry. But more than 150 years on, they are now attracting a different crowd. With the high ceilings, Period features and traditional classic structures, these properties have always been a fantastic offer for professional firms such as solicitors, accountants and medical consultants and now they are also attracting a wide range of creative industries and cutting edge businesses.
NG Chartered Surveyors is currently marketing four Period city centre office buildings for businesses looking to take advantage of these historical gems.
Amy D’Hooghe, surveyor at NG, said: “The area surrounding The Ropewalk and Regent Street in the city centre has traditionally been, and still remains, at the heart of Nottingham’s professional core.
“Already popular with solicitors, accountants, PR firms and property companies, the location has a range of amenities right on the doorstep, including Harts Hotel, the Walton’s Hotel, Cast restaurant, Nottingham Playhouse and the brand new Brown’s restaurant and bar.”
A fantastic opportunity is now available for companies looking for open plan contemporary office space, within the traditional Period building setting. A 3,250 sq ft ground floor suite has become available in the Old Pumphouse, 5 The Ropewalk.
The space has direct access from The Ropewalk and benefits from a shared secure car park, which offers four parking spaces. The layout is open plan and benefits from modern kitchen and WC facilities. Following full refurbishment of the Grade II Listed building, the suite is currently in shell state, giving interested parties the chance to tailor the internal finishes and layouts to their specific requirements and colour schemes. Rent will be made available on application.
NG are also marketing a self-contained 839 sq ft suite on the lower ground floor of 16 The Ropewalk. This elegant three storey Period office building comes with two on site parking spaces.
Nearby at 16 Regent Street, there is a five storey mid-terraced Grade II Listed building offered both for sale and to let. The 2,630 sq ft of office space will be available at £10 per sq ft. alternatively, offers are invited in excess of £450,000.
Amy D’Hooghe continued: “Demand for properties in this area, particularly freehold, still remains strong. Good quality properties with such prime locations can understandably be very attractive to small businesses and pension funds.”
Similarly to The Ropewalk area, the Lace Market offers a prime office location, right in the city centre and has been popular for years with creative industries. A new opportunity has become available at 39 Stoney Street, with first and second floor offices combining 5,598 sq ft of refurbished office space (each floor comprising 2,799 sq ft).
The Victorian former lace warehouse has been converted to provide sympathetically refurbished office accommodation. The floors are available either as a whole or on a floor-by-floor basis. They will be freshly carpeted and redecorated for immediate occupation. A limited number of car parking spaces are also available.
The inaugural 2011 Nottingham Commercial Office Review pointed to the need for a substantial increase in new Grade A office space to satisfy an acceleration in the jobs market, forecast by economists from the business information group, Experian.
“Whilst office capital values have fallen across the board, these types of properties appear not to have been as badly affected,” Amy added. “During the recession, values have fallen but not to the same extent. Properties with character that can still offer exceptional office space are seen as an attractive prospect to both tenants and purchasers.”