The Nottingham real estate team has supported Three Peaks Nottingham Limited with the sale of 1 Mere Way on Ruddington Field Business Park, to Corum XL for £6.3m.
Positioned at the entrance to Ruddington Fields Business Park, the 28,696 sq. ft. building is the head office of Nottingham software firm Ideagen. The office space is let to them on a 15-year lease.
The business park is just six miles to the south of Nottingham, with great access and connections to the city centre via the A60. Other occupiers of the premier development include Experian, Vision Express, Capita, Emtec College and Quotient Clinical.
Advising Three Peaks Nottingham Limited, Peter Dilks and Hannah Awcock advised on all legal aspects of the deal, helped to ensure that the timetable for completion was achieved.
Peter Dilks, partner in our real estate team, said: “The completion of this sale is positive news for Nottingham and indicates the real estate market is starting to bounce back. Although COVID-19 may have initially put a temporary halt on investment, the return of deals of this scale shows that there are still plenty of opportunities within the real estate market in the East Midlands.
“We’ve been working with Three Peaks Nottingham for many years and feel privileged to be able to continue to support them with their future plans.”
Michael Johal, director of Three Peaks Nottingham, added: “We are very pleased to have concluded this sale swiftly, even within a climate of uncertainty, as well as concluding the lease term during the COVID-19 disruption. This underscores the fact there is demand for property investment and a good outlook for well-located assets.”
Read more about some of the ways we’ve supported our clients over the past few months.
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