Real estate specialists Commercial Property Partners (CPP) recently sold two regional office investment transactions in Ilkeston and Sheffield. Both properties were acquired by the same private investor.
The first property, Mercian Close office located in Ilkeston, Derbyshire, a detached 18,115 sq ft of accommodation over two floors, is currently leased to Derbyshire County Council.
The second property, St Mary’s Court in Sheffield, is a detached three-story office building covering 14,609 sq ft. Tribal Education Ltd occupies the first and second floors.
These transactions were executed on behalf of an institutional investor. CPP Director Robin Bullas expressed satisfaction with the completion of these sales, particularly given the current market conditions.
Bullas remarked, “We’re delighted to have completed on two significant regional office sales given the current market conditions. These types of deals are indicative of a stronger 2024 as the sector continues its recovery with more firms now making provisions for staff to return to the office in larger numbers alongside hybrid working practices and more investors now starting to reinvest into regional offices.”
