CBRE has advised DTZ Investors on the acquisition of 41 – 51 Clumber Street in Nottingham. The 28,000 sq ft of prime retail space is at the heart of Nottingham’s shopping district and is currently occupied by four retailers; Nationwide, O2, William Hill and Schuh.
DTZ Investors agreed to pay £21.18m for the freehold investment which reflected a net initial yield of circa 4.75%.
Charlie Neil, Head of High Street Investment at CBRE UK said: “Nottingham is one of the country’s leading shopping destination but undervalued as a retailing centre. It is set to improve over the course of the next few years thanks to major investment in the city centre which will only enhance Nottingham’s offer as a top ten retailing location in the UK.”