Major mixed-use scheme sold in deal worth over £2.5m

A mixed-use building in Ashfield has been snapped up in a deal worth in excess of the guide price of £2.5m.

Savills, on behalf of Stock Monster Properties, has completed the freehold sale of Monarch House in Ashfield, H W Martin Holdings, the firm that delivers works and support services from design, through to build and onward maintenance for the transport and waste recycling infrastructure

The buildings on site extend to 93,462 sq ft of warehouse and office accommodation across basement, ground, first and second floors. Externally, the self-contained storage and distribution facility benefits from a large secure site extending to approximately 3.76 acres, with redevelopment potential subject to planning permission.

Ian Muxlow, director in the commercial agency and investment team at Savills Nottingham, said: “We are delighted to have completed the sale of Monarch House in such a short timeframe, with a sale having been agreed within weeks of commencing marketing, which is indicative of the good appetite for industrial sites in Nottinghamshire. The property is located in a well-established industrial area which is ideal for H W Martin Holdings as they are looking to expand their already successful business.”