Derby office building sold for £5m

Squarestone Growth has bought Hudson House in Derby for £5m.

The 35,000 sq ft Pride Park office building is he headquarters of Resonate Group, a rail specialist technology company.

Squarestone Growth founding partner, Paul Coulter, said: “The acquisition of Hudson House demonstrates our continued commitment to the Midlands following the £22 million acquisition of Eagle Court and the £6.5 million investment at Aspect Business Park in Nottingham.

“We see huge growth potential in the main cities of the Midlands, given their improving connectivity to central London by road and rail and the expansion of domestic airports. With limited development we expect strong rental growth prospects in the UK regional cities for quality modern offices in locations that are seeing increased occupational demand for the best product at a fraction of the price of central London.”

Hugo Denée, managing director at Squarestone Growth added: “Derby is another key city we have targeted and we are delighted to add one of the best assets in the city to our portfolio that we have grown to £230 million in the last 3 years. With a target of £400 million under management by 2019 the Midlands will remain a key target investment zone for Squarestone Growth.”