JLL attracts further institutional investment to Nottingham
Property specialist JLL has ended 2017 on a high after completing another major investment deal in Nottingham, attracting one of the world's largest real estate investors to invest in a prime city centre office scheme.
NOTTINGHAM December 11, 2017 - Property specialist JLL has ended 2017 on a high after completing another major investment deal in Nottingham, attracting one of the world's largest real estate investors to invest in a prime city centre office scheme.
JLL has sold the 42,000 sq ft four-storey Agora building at Cumberland Place on behalf of Aviva Investors to Fidelity International, the tenant lineup of which includes OFSTED, Department for Education and RBS.
James Keeton, director at JLL Nottingham commented: "Agora is the latest in a line of high profile Nottingham office buildings where JLL have been involved in advising clients on the refurbishment and marketing of vacant space with a view to ultimate disposal.
"Following full occupancy, and working hand in hand with our Midlands Capital Markets team, we are pleased to have subsequently completed another major investment sale in Nottingham. This builds on a formidable track record in attracting major funds to invest in the City.
"Our local presence and expertise in Nottingham, combined with the reach of our Midlands' Capital Markets team affords JLL a unique position to promote real estate in the City. Our robust market intelligence, data and ability to profile Nottingham successfully has once again delivered excellent results for our clients."
Ben Kelly, director within JLL Capital Markets team added: "In concluding the sale of Agora, we have once again attracted international investment, keen to invest in prime assets in strong regional cities. The sale adds to two other significant deals that we have recently completed in Nottingham, including The Pod, a major mixed used scheme on Fletcher Gate, and 37 Park Row, also at Cumberland Place. When combined with other assets JLL have transacted in Nottingham, this takes our total sales within the City to well over £100 million, an unrivalled market share".
James Keeton concluded: "The sale of Agora was once again completed through a targeted off-market campaign, with JLL able to utilise its market knowledge and position to quickly identify the best buyers and conclude a sale at a premium price. We continue to advise clients across the City on similar refurbishments and potential sales where they continue to see the benefit of the wide ranging expertise, market knowledge and advice JLL is able to offer."