Investors back Nottingham scheme
Nicholas Court in Nottingham city centre has been sold to a private equity firm. The site, which comprises more than 24,400 sq ft, was bought from previous owner PPG Southern.
The new owner said it intends to refurbish the property and offer high quality serviced office suites.
The building, which was refurbished in the early 1990’s and was previously occupied by the Inland Revenue, is now part let to the National Heritage Lottery Fund and The Arts Council.
About 13,000 sq ft of the scheme is vacant.
David Ajose, who led the private equity group, said: “We are delighted with the purchase and we will provide the most flexible and cost effective space available in Nottingham. It is rare that suites of between 1,500 and 5,000 sq ft are let on easy in/out terms, but our model is tenant focused rather than landlord focused. Within a week we already have two suites under offer.”
FHP and Innes England have acted jointly on behalf of PPG Southern.
