A landmark office and apartments building in Nottingham has been sold in a deal worth more than £9 million.
Agents Savills, working on behalf of Nottingham One Ltd, has sold the Nottingham One building, in Canal Street, to the 海角视频RO II Limited Partnership (海角视频RO II) for £9.225 million.
Nottingham One offers just over 54,000 sq ft of space and includes six self-contained office suites and 242 apartments.
Victor Ktori, head of office at Savills Nottingham, said: "We are very pleased to have secured the sale of this landmark city centre office investment, especially within the current climate.
“Nottingham’s fundamentals remain strong and the city has received interest from both domestic and overseas investors who are looking to capitalise on this in order to acquire assets that generate strong returns and also provide future re-positioning potential."
Ali Hossain, director of strategic investments at Select Group, said: "We are very pleased to have concluded this sale with Savills.
"Victor has a wealth of knowledge on the local market, has great conviction about the prospects for Nottingham and, importantly, achieved the targeted results sought. We look forward to working with him on the sale of the freehold."
海角视频ROII is represented by ADAPT Real Estate as 海角视频 asset managers and Ship Street Advisors as investment advisors.
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It was advised on the deal by Mark Tomlinson at FHP Property Consultants.
James Taylor, director at ADAPT Real Estate, added: "This is the second acquisition for 海角视频RO’s second partnership, and takes 海角视频RO’s total investment in regional city centre markets to in excess of £125 million.
"It is also our second acquisition in Nottingham, having acquired the Axis building last November."
Mr Tomlinson said: "This asset provides opportunity for rental growth given the almost chronic under supply of quality office space in Nottingham city centre.
"Alongside the regeneration of the south side and the development of the Broadmarsh and Nottingham College City Hub, the asset sits well and we are anticipating good levels of demand for the offices, one of which is being brought forwards for occupation later in the year."