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News Release

London

Jones Lang LaSalle sells Loxley House in Nottingham for £22.5 million

Securing one of the largest occupier deals in 2009


London, 22nd December 2009 - On behalf of Capital One Bank (Europe), Jones Lang LaSalle has sold Loxley House on Station Street in Nottingham to Nottingham City Council for £22.5m. This is the largest deal in the Midlands and one of the largest occupier deals in the UK this year.

Nottingham City Council has purchased Loxley House, a Grade A office building totalling 213,619 sq ft, as its new headquarters and will move its 2,000 employees into the premises. Capital One will continue to house its UK headquarters in Nottingham, in its newly refurbished Trent House building.  This places two of the city's major employers in neighbouring positions on the Southside, cementing it as a key area for businesses in Nottingham.

Andy Brumwell, head of HR at Capital One, commented: “I am very pleased with the end result and it is testament to Jones Lang LaSalle’s hard work through the ups and downs of the deal that we were able to keep our eye so clearly on the prize.”

Michael Evans, director of Jones Lang LaSalle’s Corporate Finance team, who advised on the transaction, added: “At present corporates are seeking to cut costs, make the best use of scarce capital and focus on their core business - we have helped Capital One achieve all three.”

Notes to Editors:

  • Jones Lang LaSalle’s multi-disciplinary team which successfully concluded the sale, on behalf of Capital One, was made up Michael Evans (Corporate Finance); Chris Hiatt and Jonathan Fear (National Office Agency); Mark Routledge (National Investment) and Graham Taylor (Building Surveying).