Hines, the global real estate investor, developer and manager, has created the Axis portfolio which comprises eight prime distribution and manufacturing properties in the East Midlands. Totalling just over 1,100,000ft² across eight buildings, six of these have now been let, bringing new investment and job creation to the region. The assets were developed in conjunction with Clowes Developments, who delivered the best in class warehouse units across four prime sites.
Dove Valley Park – Established employment park adjoining the A50, providing a quick link from the M1 over to Stoke on Trent and the West Midlands via the M6, plus being on the doorstep for Derby and Burton. This site now has the last two units available in the portfolio, each of which offer prime distribution or manufacturing space, and are ready for occupation now. The units extend to approximately 152,000ft² and 196,000ft².
Castlewood Business Park – Located at Junction 28 of the M1 at its intersection with the A38, with 77,000ft² built and let during the construction phase to an expanding local occupier.
East Midlands Distribution Centre – Set at Junction 24 of the M1, hosting the largest single unit constructed of just over 343,000ft², which has been let to an international e-commerce distributor.
Fairham Business Park – Located just outside of Nottingham’s Workplace Parking Levy and within moments of both the city centre and Junction 24 of the M1 via the A453, this site saw three units speculatively constructed of circa 66,000ft², 101,000ft² and 102,000ft². All three have been let to companies keen to take advantage of Fairham’s strategic location.
Mickey Scott, Director at Hines, led the acquisition and subsequent leasing of the various units and is overseeing the marketing of the final two that remain available. He commented:
“The Axis Portfolio, which comprises eight buildings totalling just over 1,100,000ft², has been a resounding success for us. Forward funding these deals and bringing speculatively constructed space to the market sits in the sweet spot for Hines as a real estate investor with a developer’s mindset. We were delighted to invest in the heart of the country’s distribution network, bringing Grade A space to the region. Six of the eight buildings have now been let with just two at Dove Valley Park left.”
Occupiers taking space include Davenham Switchgear, a brand of Legrand and a leader in critical power solutions, and household name Vision Express at two of the Nottingham sites. East Midlands Distribution Centre, the largest of building, welcomes CIRRO Fulfillment, operating under the legal entity Super Smart Service in the UK, a global e-commerce fulfilment provider, whilst the smallest building in the portfolio will be home to an expanding local occupier, Schoolblazer, a company which has grown exponentially in the last few years.
Agents for the various schemes include FHP Property Consultants, Cushman and Wakefield and Savills. Tim Gilbertson of FHP Property Consultants added:
“When we were first brought on board to work with Hines we were excited at the prospect of bringing their foresight to reality and finding occupiers for this fabulous portfolio. The fact that we are now down to the last couple of buildings and we have let already approximately 900,000ft² is testament to their ambitious investment in the region. Knowing that we have enabled local occupiers to develop and expand their operations whilst also bringing in globally recognised companies to the East Midlands gives us all a boost at a time when there are so many uncertainties in the world.
“The strength of our East Midlands patch in terms of demand for distribution and manufacturing premises of the highest calibre reflects not only the central England location we occupy but also the quality of workforce and labour which is available and the comparative ‘cost-effective’ value of space available to companies both local, and those looking to relocate from overseas or elsewhere in the UK, with the combination of these positive factors helping us to secure such fantastic tenants for our client.
“The last two buildings in the portfolio are creating good interest and we hope to secure further deals shortly.”
For more information on the Axis portfolio or to register interest in the last two buildings which are available at Dove Valley Park, just off the A50, of circa 152,000ft² and 196,000ft², call 07887 787 893 or email tim@fhp.co.uk.
Posted on 08 April 2025
