Major fund signals improved confidence in city
Innes England has been instructed to market newly refurbished grade A office space in Riverside Business Park, Nottingham.
Innes England is offering the 5,812 sq ft ground floor at Loxley House in Tottle Road which is owned by Threadneedle Investments, a leading international active asset manager with a strong track record of outperforming the market.
Threadneedle has speculatively refurbished the accommodation to provide grade A office space in an established business park location on the edge of the city. The space can be sub-divided to provide a broad range of self-contained suites from 1,830 sq ft up to the full 5,812 sq ft.
Threadneedle’s speculative refurbishment heralds a rising confidence in the office market, says Craig Straw, director at Innes England.
He said: “Threadneedle’s investment in this refurbishment in advance of a letting demonstrates market sentiment is improving. It shows a real confidence in the market that such a big institution like Threadneedle is investing in Nottingham.”
The first six months of 2014 recorded a 110% increase in office take up compared to the same period last year signalling that the city is back on track with a big rise in the number of deals involving small to medium sized firms and bigger deals making a comeback, added Craig.
“With its location and refurbishment, Loxley House will be very attractive to businesses looking for high quality offices with plentiful parking, great public transport links and ease of access to both the city and the road network,” he said.
Nick Bacon of Threadneedle added: “Nottingham is a city which is bouncing back from the credit crunch and has displayed strong signs of recovery. In terms of investment, we could see the possibilities and we are increasingly confident about growth prospects in Nottingham and cities just like it.
“Loxley House is a building where we could see real potential. With the continued lack of grade A space across the country, we were confident that with investment and refurbishment, we could create accommodation which could attract businesses looking for great offices in Nottingham. Its close proximity to the city and the major local road networks makes Loxley House an excellent proposition.”