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News Release

Nottingham

JLL delivers 100% success as 37 Park Row is fully let


NOTTINGHAM, 29th February, 2016 - The Nottingham offices of JLL has achieved a full house at 37 Park Row, as the remaining  6,361 sq ft has been let to national firm, Thompson Solicitors.

A clear demonstration of the demand for quality space in the city, the letting follows close on the heels of Now: Pensions who took 20,000 sq ft towards the end of 2015.

37 Park Row, owned by BMO Real Estate was refurbished in 2015 and offered 27,000 sq ft of Grade A office space, in the heart of the business district, close to the city centre.

James Keeton, director at JLL, agents on the scheme alongside FHP said: "Occupiers are increasingly looking for high quality space as the working environment becomes a key selling point in the race to attract and retain the best talent.

"Location and connectivity is also important, with a good selection of amenities featuring highly on potential new employees' wish list. Work, life balance is important to the new generation of office workers and so accessibility to leisure, fitness and modern housing is crucial."

James added: "If we are to attract and retain high quality occupiers we need the right quality of offices in Nottingham's core to capitalise on this. 37 Park Row delivered this and the results are clear. The only downside being that another big chunck of Grade A space has now been taken out the market, further reducing our already sparse supply of Grade A.

"With no new-build in sight in 2016 and at best late 2017, refurbishment will continue to experience an upwards trend, with significant investment for the Agora Building - at Cumberland Place, Stanley House, Water Court and Canalside House either already committed and on-site, or due to commence in 2016.

"BMO Real Estate's willingness to invest in the right specification at 37 Park Row has meant they are now reaping the benefits. I am confident this will be the case for subsequent refurbishments where the right quality of space to meet the occupiers requirements is delivered." said James.

Simon McIntosh from BMO Real Estate added: "Following our decision to speculatively refurbish 37 Park Row on the back of the advice and direction received form our agents, we are delighted to have secured 100% occupancy through JLL only a very short time post completion. Demand remains strong in Nottingham and following success at both Park View House and 37 park Row, we have now commenced the speculative refurbishment of 15,000 sq ft at the adjacent Agora building, where we are confident of a similar result"