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Innes England confirm Nottingham Business Park fully let after final office deal

Thursday, 30 April 2020

Nottingham Business Park fully let after final office deal

A business park is now fully let following one of the largest Nottingham office deals in recent years, overseen by joint agents PAI member Innes England and FHP.

Housing association Metropolitan Thames Valley Housing has taken 34,500 sq ft of remaining space at Waterfront House at Beeston Business Park on a 20-year lease.

The deal follows an extensive refurbishment of the 91,895 sq ft building administered by Innes England, where the office floorplates were designed to meet the needs of modern, multiple occupants.

A joint venture between Chancerygate and Bridges Fund Management is behind the scheme, which comprises three industrial units totalling 128,379 sq ft and a 0.71-acre development plot alongside Waterfront House.

Beeston Business Park’s industrial buildings are occupied by accident and repair manufacturer AW Repair Group and electronics manufacturer, SMS. Web giant Go Daddy leased 26,800 sq ft at Waterfront House last summer. 

Craig Straw, director at Innes England, said: “It’s great to see the client’s confidence in the market and investment in a speculative refurbishment rewarded with another quality tenant to bring the property up to full occupancy.”

Paul Rogers, director in Innes England’s building surveying team, said: “This project is another example of where we’ve been able to add value by working closely with our agency colleagues to re-imagine an outdated property and deliver a programme of refurbishment works to maximise its appeal to potential new occupiers.”

Chancerygate’s head of asset management, Rory Finnan, said: "Metropolitan Thames Valley Housing’s letting at Waterfront House is one of the largest in Nottingham over the past three years which is testament to the quality of both the office space and the advantages the location offers.

"We are very proud of what has been achieved at Beeston Business Park, and this is reflected by the high calibre of occupiers we have attracted and retained on the site.”

Simon Ringer, head of property funds at Bridges, added: "Beeston Business Park has been a great success for our JV and an important regeneration project within the Nottingham Enterprise Zone.

"All our occupiers recognise the excellence of the development as an inspiring space to work and ultimately create further employment opportunities."