Nurton completes Derby PCT deal
Nurton Developments has completed one of the largest deals this year in Derby city centre after letting a 25,250 sq ft building to the NHS.
The letting is the second part of a deal struck last year with Derby’s Primary Care Trust (PCT) which took 31,834 sq ft of space at its Cardinal Square building, in Nottingham Road. The deal allowed the trust to consolidate several locations into one site as part of the PCT’s non clinical estates rationalisation programme.
The Trust originally signed a seven year lease on five floors with the option to raise its occupancy to a little over 50,000 sq ft, which it has now completed.
“This is a very significant letting for the Derby office market so early in 2011, but also an important deal for our portfolio, helping to strengthen our resolve in tough economic times. It demonstrates that we have got the formulae right for selecting under-managed and under-developed properties which need investment and bringing back to life.”
The letting now means Cardinal Square, which has undergone a phased refurbishment, is 100 per cent occupied, with the NHS’s lease expiring in 2017. Other occupiers include Derbyshire Constabulary, Derby Homes, Freeth Cartwright and Jacobs Engineering.
