Siemens plc has taken a 31,000 sq.ft letting at M7 Real Estate’s Central Park in Nottingham – the largest office deal in the city since Q1 2016.
The building was originally constructed in the early 1990s and was acquired by M7 in 2015 in a poor state of repair and having recently been vacated by the previous tenant before its lease expiry in August 2017.
M7 committed to undertake a fast track £2.5m refurbishment scheme, that involved upgrading air conditioning, an internal reconfiguration, new ceilings, lighting, toilets and carpets, bespoke to Siemens’ requirements and integrated both the landlord’s and tenant’s work to ensure the building was ready for occupation in November 2017.
Powell Williams acted as Monitoring Surveyor on the landlord’s Cat A works and Contract Administrator and Principal Designer on the tenant’s Cat B works.
Kevin Harrington, EMEA Transaction & Strategy Manager at Siemens Real Estate, said:
“This transaction involved hitting a number of critical events in the timeline and it was only through a collective commitment on all sides to completely engage with openness and cooperation that we were successful.”
Paul Scourfield, partner in our Leeds office, said:
“Timing, flexibility and integration between all parties was absolutely essential in order to deliver a successfully refurbished building for Siemens, within a short period of time.”
Siemens intends to move approximately 300 people to the new Grade A office.