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THE NOTTINGHAM COMMERCIAL OFFICE MARKET REVIEW 2012
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For further updates visit www.nottinghamofficereview.co.uk
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Nottingham Office Forum members Chesterton Humberts DTZ FHP Property Consultants Geo Hallam and Sons HEB Innes England Invest in Nottingham Jones Lang LaSalle Lambert Smith Hampton Lorne Estates NG Chartered Surveyors Nottingham Regeneration Limited Nottingham City Council Savills Salloway
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in partnership with
Investment Deals
Change of Use
The city saw over 207,000 square feet of office accommodation transacted during 2012. Significant deals included the £6.2m purchase of Mowbray House by Hillview and £6.8m purchase of Castle Wharf by the Canal and River Trust.
Chapel Quarter
5,705 sq ft
Cumberland Court
6,129 sq ft
50 Shakespeare Street
9,219 sq ft
36 Regent Street
3,477 sq ft
Total
21,053 sq ft
The Steps, Plumptre Square
11,812 sq ft
14-24 Regent Street
18,165 sq ft
• Nottingham Enterprise Zone offers development opportunities across four city centre sites
Premier House
26,305 sq ft
• A technology led city with research excellence and growth sectors in Lifesciences, Cleantech and Digital Media
Castle Wharf
41,000 sq ft
• Cutting edge global digital infrastructure
Nottingham One
50,000 sq ft
Mowbray House
57,000 sq ft
Total
207,759 sq ft
This is the third Nottingham Commercial Office Review which provides an essential update on the office market activity during 2012 in Nottingham’s main office core.
Nottingham demographics and workforce
• Over 98% of the UK market within a 4 hour drive of the city • Access to 62,000 students studying at Nottingham’s two universities • £40m Nottingham Investment Fund available to growing businesses • Home to global businesses including Capital One, Experian, Alliance Boots, Speedo and E.On
• £10m Nottingham Technology Grant Fund focussed on supporting technology led companies • Award winning integrated transport network with two new tram lines under construction and A453 widening • Top 6 retail destination
Total population: 1,361,200 (Journey to work area)
• The UK’s most energy self-sufficient city
Working age population: 887,100
• Nottingham Creative Quarter to create an ‘incubator without walls’ in the Eastside of the city
Private sector employment: 273,050
GRADE A GRADE B
ft 02 sq
• Close to 1.4 million people in the journey to work area
73
,88
6s
qf
t
GRADE C
Available Office Space GRADE A
Financial and Business Services employment: 105,700
146,912 sq ft
ft
The Nottingham Office Forum brings together the city’s commercial property professionals, planning and development experts and specialist consultancies. The aim of the forum is to create a coordinated voice to investors, developers and occupiers about Nottingham’s office market.
Deals done by grade
21, 1
Reasons to invest in Nottingham:
71, 231 sq
Nottingham Office Forum
GRADE B GRADE C
Student population: 62,000
For further updates visit www.nottinghamofficereview.co.uk
595,360 sq ft
166,147 sq ft
Pipeline
Selection of Key Deals 30-34 Hounds Gate
7,689 sq ft
SRC Transatlantic
Waterfront House London Road
8,685 sq ft
BWB Consulting Ltd
City Gate Tollhouse Hill
13,269 sq ft
Northcliffe Media Limited
The Pod Fletcher Gate
20,000 sq ft
TDX Group
Castle Wharf House Canal Street
41,000 sq ft
Land Registry
Phase 2 Nottingham One
Canal St
89,998 sq ft
Sentinel
Wilford Rd
98,652 sq ft
The Portal
Queens Dr
149,996 sq ft
Apex Court City Link Road 48,125 sq ft
Former Hartwell Ford Site
London Rd
202,094 sq ft
Unity Square
Meadows Way
290,628 sq ft
Eastside
London Rd
1,409,589 sq ft
Total
2,240,957 sq ft
NET Phase 2
Lace Market Square
Castle Meadow
NG2 Business Park
The Pod
Trinity House
Castle Wharf
Department for Business Innovation and Skills