DTZ Investment Management has recently purchased the freehold interest of 3/9 Clumber Street & 1/3 Long Row, Nottingham, for £8.84m reflecting 7.4% NIY. This mixed-use, retail and office building is situated on the western side of Clumber Street at its southern end. The building provides five retail units, with five floors of office accommodation above. Tenants include Three, Thomas Cook, Goldsmiths and Virgin Media.
Gavin Richmond of DTZ IM commented, “This asset and its location offer great potential in terms of rental growth and active asset management. The high running yield was attractive to us and we are looking for more of the same.” Jackson Criss advised DTZ Investment Management.
DTZ Investment Management have transacted over £2 billion of property over the past three years and still have over half a billion to allocate to direct property on behalf of their pension fund clients.
