Innes England are delighted to have delivered an all-in-one solution covering many areas of the property lifecycle at Castle Court in Nottingham on behalf of their client - Rushcliffe Estates Limited.
c34,000sqft of Castle Court, which is situated next to Nottingham Castle, has been let to The Department for Work and Pensions, as a job centre which opened to the public in March. This will be building on the existing 639 job centres across the UK with plans to deliver Universal Credit services to all of the city’s younger customers.
Innes England’s Agency and Development Team secured the deal on behalf Rushcliffe Estates whilst simultaneously negotiating a surrender with the former tenant to facilitate the letting.
Craig Straw, Innes England's Agency and Development Director commented:
"We were very pleased to secure the letting to a government covenant on behalf of our client’s Rushcliffe Estates. A simultaneous surrender needed to be agreed with the outgoing tenant who were in the process of stripping out their substantial fit-out as part of their dilapidation liability.
We worked closely with our building surveying colleagues to reach a tri-partite agreement which benefited all – the outgoing tenant secured an early surrender; the incoming tenant acquired the property they need and our client welcomed a new occupier.
We’re delighted to hear that the building is being utilised to support jobseekers within our Nottingham community. We wish them all the best with their ambitious plans."
Ross Whiting MRICS, Innes England's Agency and Development Associate Director commented:
"The Grade II Listed property comprised of a number of self-contained office suites, with a canal to the rear of the building. It is situated within walking distance from Nottingham Train Station and Nottingham Castle, making it a very desirable location. We are pleased to be continuing to let out the remaining vacant spaces within the building."
Our Property Asset Management Team were then instructed to support in managing and administering the service charge of the building.
Grace Conisbee MRICS, Management Surveyor of Innes England commented:
“We’re really pleased to be retained by the Landlord to administer and manage the service charge going forward. We’ve worked with the Landlord to establish a revised budget for the forthcoming year and aim to work with the tenants on a range of areas.”
Contact Innes England to find out more.