News: Powell Williams advises on landmark Nottingham letting for Siemens plc
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
Paul Scourfield, partner in our Leeds office, said:
"Timing, flexibility and integration between all parties was
absolutely essential in order to deliver a successfuly refurbished
building for Siemens, within a short period of time."
Siemens intends to move about 300 people to the new Grade A
For more information, please contact Paul Scourfield.