A private investor, advised by international real estate advisor Savills, has sold the long leasehold of the ATOS Data Centre at Blenheim Industrial Estate in Nottingham to Technical Real Estate Ltd for £3.4 million, reflecting a net initial yield of 5.96%.
Set across 3.3 acres (1.3 hectares) of land, the property comprises a data centre totalling 45,200 sq ft (4,199 sq m). The building is currently let in its entirety to ATOS IT Solutions and Services Limited and generates an annual rental income of £214,700.
Victor Ktori, head of office at Savills Nottingham, comments: “This was a unique opportunity to acquire a data centre asset in one of Nottingham’s most pre-eminent industrial locations. Due to the property’s good credentials, including a strong covenant, a secure income and on-going asset management potential we were able to achieve an excellent price on behalf of our client.
“Following the Chancellors announcement yesterday regarding stamp duty on commercial property the completion date was brought forward to both parties benefit.“