National commercial property consultancy Lambert Smith Hampton (LSH) has helped Marlborough Property Co. Ltd acquire a high yielding office and car parking investment in Nottingham.
LSH’s Nottingham office acted on behalf of the property investor to purchase Water Court – a 17,500 sq ft office scheme in Canal Street, Nottingham.
Water Court is a high-quality office building in a prime city centre location near to the Nottingham City Council offices, Capital One’s European headquarters, Nottingham Crown Court and the Nottingham One office and residential scheme.
The office building is currently occupied by JobCentre Plus – part of the Department for Work and Pensions – until September 2015. The deal also includes a pay and display car park with 45 spaces, which is let to Excel Parking until September 2015.
Phil Quiggin, director of LSH’s Nottingham office, said: “Marlborough Property Co. Ltd has ambitious plans to acquire property investments across the UK. Water Court presented the perfect opportunity for the company to acquire secure income and the building has excellent prospects for refurbishment and re-letting, or even redevelopment, in the future.”
Edinburgh-based commercial property consultants Smolka Strachan acted on behalf of the administrators of Dalton Airfield Estate Ltd for the sale of Water Court.
LSH is a national commercial property consultancy that works with investors, developers and occupiers across the public and private sectors, and it is single-mindedly focused on UK and Irish property markets.
