Commercial Property News

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Monday, June 30, 2023

Fisher Hargreaves Proctor instructed to sell Radcliffe offices

Due to the relocation of Michon Design to newly restored premises in Radcliffe on Trent, Alastair Fearn of FHP was instructed to sell the premises now known as The Old Bakery, 2a Fleeman Grove, West Bridgford.

The Old Bakery extends to around 115m (1,260ft) and is located in the Lady Bay area of Trent Bridge. The property had been extensively and tastefully refurbished by Michon Design to create a highly specified and attractive open plan working space. As soon as the premises were brought to the market a local firm, Williams Architects expressed an immediate interest in the property.

The key to the transaction was not only achieving a fair purchase price for the property but exchanging contracts prior to the 31st April deadline with relation to the changes in capital gains tax.

Clive Williams of Williams Architects commented:"We have been looking for a permanent home for some time and we are delighted to have secured The Old Bakery. Opportunities such as this do not come up that often within West Bridgford and it suits us perfectly".

Alastair Fearn of FHP commented:"To be able to exchange contracts prior to the end of April was key in this transaction so the flexibility of Williams Architects to delay completion was hugely important.

This sale also illustrates that there is still demand for small freehold office premises in the Nottingham fringes.