Landmark Nottingham office building changes hands

PMW Property has bought The Curve, the landmark 30,000 sq ft office building on the NG2 Business Park in Nottingham.

The building is currently let to VF Corporation for an annual rent of £510,000. The value of the deal has remained classified.

John Proctor at FHP Property Consultants acted on the deal on behalf of PMW.

Mike Wrigley, managing director of PMW, said: “We work closely with a number of agents including FHP. When John Proctor offered me the opportunity at The Curve it resonated very nicely in a complementary way with our own thinking as to how we should look to acquire properties as the economy and property sector seeks to continue to evolve as we come out of the depths of the pandemic period.

“We have traditionally looked at the industrial and logistics sector as our default sector to invest in but during the pandemic the exponential growth of e-commerce and the need for businesses to reach out directly to their customers has meant that pricing in this sector and sourcing opportunities which we feel have value has been a challenge.

“We do see that the office sector is one where there will be emergence of rental and capital growth as the market regains and retains its confidence.

“We are looking forward to working with John and his team, and with VF Corporation, as working with our Tenants has always been a key component of our business model and we continue to look for more opportunities in all sectors”.

Proctor added: ““This has been a rewarding acquisition to work on as we have worked with Mike Wrigley and PMW Property for more than 20 years now and not only do we value them as clients but we feel they are very much part of the family and we hope equally they feel the same about us.

“The Nottingham office market continues to transact and with there being no prospect of speculative development for the foreseeable future we believe that The Curve will remain one of the best buildings within the city for some time to come.”

M1 Agency acted on behalf of the vendor.

Flint Bishop advised PMW Property on all legal aspects with Addleshaw Goddard advising the vendor.