Flagship Nottingham office building sold in £13m deal

The flagship office building on Nottingham’s NG2 business park has been sold to a mystery buyer in a £13m deal.

Schroder Real Estate Investment Trust made a statement this morning (Friday February 11) saying it had offloaded the 45,000 sq ft Arc building.

The disposal price represents a 39% premium to the 31 December 2021 independent valuation of £9.35m.

Nick Montgomery, fund manager of SREIT, said: “This sale demonstrates our ability to leverage the expertise of sector specialists to generate strong returns for shareholders. Having completed our business plan for this well located asset, we see attractive opportunities to redeploy the capital which, alongside the company’s pipeline of ongoing asset management activity, should support SREIT’s ambition to deliver a progressive and sustainable dividend.”

The deal follows an earlier transaction this week, which saw the neighbouring Curve office block sold to PMW Property.