With Prosperity’s Sherwood Square completions in full swing the lettings team are off the blocks, with no shortage of demand. “It’s been a very busy week!” said Lamont Manager Lane Giani. “Nottingham’s rental market is performing really well and Sherwood Square is a great example of this. We’re enjoying a huge amount of tenant interest in the development and pleased to be in referencing stage for tenants across the first three completed units.”
Facilitating a high volume of contract workers across the hospitals and universities, it also offers a huge variety of career opportunities
across the financial, logistics, medical, manufacturing and digital sectors. An example being the city’s ‘super hospital’ – Queens Medica Centre. With a staff base of over 6,000 it is the largest teaching hospital in the UK – just one of the city’s contributors to the thriving rental market. Home to not one but two high ranking universities, Nottingham enjoys a large, diverse international student population, driving rental demand further.
“Nottingham has some fascinating statistics” Lane continues. “It has some of the cheapest property prices in England, yet enjoys the titleas the capital of the East Midlands”. It has a huge shopping and retail appeal as well as sporting and entertainment venues yet still holds some of the best yield potential for buy to let investors and in turn, rental demand. From East to West the appetite is just as strong. After completing in September 2019, Tameway Plaza, in the heart of the West Midlands, has enjoyed an equally consistent level of rental interest.
“We’re so pleased to have placed tenants in every one of the 103 units handed over to us by Prosperity at the end of last year,” Lane continues. “This sustained level of demand is great news for our industry, especially in light of the turbulence that 2020 has brought.
It reflects the robust nature of UK rental property and its resilience to economic shifts.”