Rotherhill, in conjunction with private investor clients, has had an excellent first half of 2019 concluding a number of acquisitions and disposals.
Recent acquisitions have included the purchase of a city centre Tesco convenience store and Papa Johns with associated car parking on Alfreton Road, Nottingham. The property was purchased from Revelan Group for an undisclosed sum.
Rotherhill Managing Director, Paul Bagshaw, confirmed that despite the acquisition not fitting the normal portfolio of industrial / office stock, the property does present long-term redevelopment potential for alternative uses, whilst being occupied by well-performing convenience retail tenants.
The property has excellent prominence to an arterial route, benefits from a substantial car park and is conveniently located between Nottingham Trent University and the University of Nottingham campuses. The wider locality is experiencing significant investment and development particularly around canning circus as regeneration continues to expand from the city centre.
A number of redevelopment options are being considered for the site in the long term, whilst it is a defensive income purchase in the short to medium term. It fits our asset management and repositioning approach perfectly.
Paul Bagshaw and Ed Jeffrey of Rotherhill can be contacted on 01476 861 797 or via our website www.rotherhill.com.