Speculative Grade A office development moves forward in Nottingham

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by Lin Freestone

Detailed planning consent has been granted by Nottingham City Council for a 15,000 sq ft Grade A office development on the site of an established office location on the south-western fringe of Nottingham’s city centre.

Ultimate Estates, a developer of commercial and mixed-use property, contracted with McDonalds restaurants to redevelop its surplus car park space on Castle Bridge Road, close to Castle Meadow Retail Park and Nottingham’s Castle Marina.

Offices were first developed on the site in the mid-1990s and have remained extremely successful and fully-let. Castle Marina is a popular location, providing excellent public transport and private vehicle access, on-site car parking and a wide range of restaurants and hotel accommodation nearby.

The planned three-storey office building will have parking for 40 cars. Designed to accommodate up to 170 employees, the building is destined to become a prestigious headquarters office building.

The building is designed flexibly so that it can be occupied as a whole or sub divided on a floor by floor basis, and is being marketed at an asking rental of £19.50 per sq ft. This is comparable to the rentals being achieved on other new build schemes in the city.

Quality office developments are still in demand in Nottingham and Castle Marina is seen as an attractive location for an employer as it provides many of the benefits of an in-town location in an out of town office environment.

Ultimate Estates is now moving forward to build out the scheme, projecting completion for the summer of 2009. FHP has been appointed by the developer to market its new energy efficient Grade A office scheme.