Speedo, ng2 Business Park (Investment)

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Miller Birch is a joint venture between Miller Developments and East Midlands entrepreneur and property developer Peter Gadsby. Established in 2000, it is one of the UK’s leading property development companies.

Investment Expertise

Services provided:

  • Investment valuation advice throughout the development process to create saleable end investment
  • Identification of and negotiations with multi-national group for worldwide headquarters for Speedo
  • Advice resulting in sale of investment ahead of practical completion

Miller Birch and Innes England

Over the past ten years, Innes England has advised Miller Birch on a variety of development schemes but most notably its prestigious ng2 Business Park. It occupies an outstanding location and is now firmly established as the most sought-after business address in Nottingham.

The award-winning development combines a series of large iconic headquarter office buildings together with smaller pavilion style units known as The Triangle. Over 400,000 sq ft has been developed with space for up to a further 200,000 sq ft of accommodation.

Speedo

Global swimwear manufacturer Speedo developed a brief to relocate to a modern office with research labs to help it deliver an ambitious expansion plan – preferably ahead of the London 2012 Olympics. Speedo identified the ng2 Business Park as a location which would meet its very testing requirements for a global headquarters building.

Results

  • Working with Miller Birch and Speedo, Innes England provided development and investment advice
  • Arriving at a design and lease solution which suited all parties this produced a highly attractive investment opportunity. This ensured that a highly prized investment property was secured by Allianz UK in advance of the completion of the construction of the building for £10m, reflecting a yield of 6.75%.

'Cradle to grave advice on the development of a prime office park'