Acting on behalf of private clients, FHP has completed the sale of Trentside in West Bridgford, a major office and workshop building occupied by the Environment Agency.
The property, which fronts the River Trent in Nottingham, comprises more than 35,000 sq ft of accommodation across three storeys. It is currently let to the Environment Agency and has been acquired by a private investor in an off-market deal.
The sale completed at £5m, reflecting a net initial yield of 7.3 per cent.
Trentside is a prominent commercial building in one of Nottingham’s best-known riverside locations, close to West Bridgford and within easy reach of the city centre. The site’s long-standing public sector occupier and riverside position are likely to have contributed to investor interest in the asset.
The deal also reflects continued demand for income-producing commercial property in strong locations, particularly where buildings are let to established public sector tenants.
The vendors were represented by Mark Tomlinson, director at FHP, and Mike Wells Associates.
