Nottingham office building sold for £700,000

Nottingham-based commercial property agent Box Property has brokered the sale of 40 The Ropewalk on behalf of local private investor, Michael and Peter Johal family trusts.

The tenant in the building is DBS Law. Originally a regency home, the 3,214 sq ft building was given planning consent back in 1985 for the change of use from residential to commercial. It is let at a rent of £40,000 per annum, with the building being bought for just over £700,000.

Ben Tebbutt, director of Box Property, said: “40 The Ropewalk must be one of the most well-placed and beautiful buildings in Nottingham. In addition to it being within a few minutes’ walk to the retail heart of Nottingham city centre and having the exclusive parking, the building benefits from striking exterior and interior features.

“Working with our client on securing this unique building has been pleasure and the office facility provides a brilliant working environment for the current occupier plus space for growth. This is a great investment for my client and will continue to be of interest to office occupiers but would also easily convert back to residential use.

“Nottingham is a smart place to invest in and who wouldn’t want to work at 40 The Ropewalk and overlook The Park.”

Tim Harries of Tim Harries & Partners acted on behalf of the vendor.