Family business expands property portfolio with six-figure acquisition

A family-run property firm has expanded its portfolio with the acquisition of a Nottingham building.

The Younas Family have purchased Unit 2 Pelham Court, in Pelham Road, off Sherwood Rise, for a six-figure sum.

The Younas’s latest acquisition – which brings the total of their commercial acquisitions in the NG5 postcode alone to £4m – consists of 2,000 sq ft of office space.

It had previously been owned by a counselling service, which has shifted to working online amid the pandemic.

Company director Shamraiz Younas said: “We are delighted to have been able to add this unit to our portfolio, which is next door to our other unit.

“I bought it off-market and spoke to the vendor directly.

“To have care providers interested is fantastic – we are very aware of the sterling work carers do.

“Our plans are to fully renovate the building and work will start shortly – our in-house construction team will be doing the renovations,” he added.

The company will be transforming the building into self-contained office space, to be let out.

Two care providers have already shown interest, with a view to taking on a long-term lease.

The Younas family are not fazed by the current trend of home-working taking precedence.

Shmraiz Younas said: “We have more than 35,000 sq ft of acquisitions in the area and we have managed to fill it all.

“I think there is still a demand for offices. People will work from home, but many companies prefer to work from offices, particularly new businesses.”

Renovations are hoping to be completed by February 1.