A liquid investment deal for NG at H20
28th April 2014
Two city property firms say they are starting to see the return of the investment market following the sale of three fully-let units on the H2O office scheme at Sherwood Park.
Acting on behalf of landlord Highbridge Properties, NG and Innes England have acted jointly in a deal that has seen the trustees of HalsburyTravel snap up the units, which are home to BskyB, CC Apps and Technodocs Limited.
Keith Sharkey, managing director of HalsburyTravel, said: “We were seeking a sound commercial property investment for the surplus cash in our pension portfolio, and H2O fitted the bill.
“The properties acquired will be added to others in our portfolio and will hopefully provide capital appreciation and rental income from tenancies. The deal was very swift and smooth, being completed in around six weeks in total from start to finish.”
Director at NG, Jonathon Seddon said: “This is great deal for all concerned, and shows that the investment market is well and truly back. Investors are coming back into the market in ever growing numbers now that the recovery is established, and prices are beginning to escalate.
“This is the latest in a series of deals we’ve worked on with HalsburyTravel, so the transaction went through very smoothly indeed.
“Sherwood Park is home to a thriving business community of headquarters office buildings, leading-edge manufacturing facilities, call centres and mixed occupancy offices. It’s little wonder it is so popular, with the likes of Rolls Royce, Perot Systems, Pendragon, Johnson Diversey, Eon and DHL there. We’re sure it will prove to be an extremely sound investment for Halsbury Travel.”
Garry Ward, Director at Highbridge Developments, added: “We’re delighted to welcome Halsbury Travel onto the H2O scheme. It’s very encouraging to see that investors are now ready to start showing their muscle again, and is a very good sign that the market is returning.
“This is one of a flurry of deals we have recently completed at H2O and its sister scheme, Lakeview Campus. We are in ongoing discussions with several companies regarding other units, so hope to be announcing other deals shortly.”
Joint-agent on the H2O scheme, Chris Sinclair of Innes England, said: “This was an attractive proposition to an investor being fully income producing and offering a strong tenant line-up. Prime yields in the Nottingham office sector remain stable and this transaction is an encouraging sign of increased activity.”
H2O is located at the heart of the prestigious Sherwood Park, at J27 of the M1, and within four miles of Nottingham.
A strategic location, on the north western edge of Nottingham, H2O benefits from excellent road communications and a stunning work environment. This unique development is set amongst ornamental lakes and tree lined avenues in one of the UK’s premier business parks and has been designed to accommodate a range of small businesses looking for their own self-contained office.