September 2013 London/Hereford – Boultbee Brooks Real Estate is pleased to announce the acquisition of a 45,176 sq ft office building called “The Arc” at Queen’s Park Drive, Nottingham.
This grade A office building is located in Nottingham city centre and has a newly appointed tram stop just outside the Arc. The building was purchased for £7.8 million and is currently 100% occupied. Tenants include the law firm Geldards and Coutts private bank. The break terms of the existing four tenants expire or break from October 2015 onward to August 2020 which gives good medium-term opportunities to manage the asset.
BBRE managing director Clive Boultbee Brooks said:
“The Arc is situated in a prime business park and is highly accessible from Nottingham city centre, with its own tram stop and easy access to the city train station. Grade A space is extremely limited in Nottingham despite its status as one of the UK’s largest city economies outside of London which we anticipate will support rental growth for the best quality space. The Arc represents a key step in furthering Boultbee Brooks Real Estate’s stated strategy of investing smartly and moving fast to take advantage of the anticipated recovery in the U.K.’s regions.”
The Arc was completed in 2005 and provides a net internal area of 45,176 sq ft over four floors. The flexible floor plates are capable of sub-division into two wings.
For more information contact:
Boultbee Brooks Real Estate
+44(0) 20 73498454
+44(0) 20 7404 5959