Nottingham business park sold in £16.4m deal

Beeston Business Park, the 26.5 acre site on the outskirts of Nottingham, has been sold to Regional REIT in a £16.4m deal.

The site includes 220,274 sq ft of space, including a multi-let two floor office building. Tenants include Metropolitan Housing Trust, Worldwide Clinical Trials and GoDaddy.

Stephen Inglis, chief executive officer of London & Scottish Property Investment Management, the asset manager, said: “We are delighted that the company has made a further accretive acquisition, which has been partially funded by recycled sales proceeds. To acquire such a high quality and income producing asset management opportunity is quite an achievement in the current market environment.

“The business park is well positioned in one of the UK’s top 15 cities with excellent transport links and it also increases our regional diversification. In addition, the Acquisition offers the potential execution of a number of near term asset management initiatives. These attributes make it a good fit with our specialised asset management platform and offers both short and medium term income and capital growth opportunities.”