Lambert Smith Hampton secures lease transfer on 46,250 sq ft office space in Nottingham11th December 2013

Acting on behalf Babcock Networks Ltd, commercial property consultancy Lambert Smith Hampton (LSH) has secured a lease transfer with E.ON UK, one of the UK’s leading energy suppliers, on 46,250 sq ft of office space at Sherwood Business Park in Nottingham.

E.ON has taken a lease assignment on 1 Newstead Court  in a deal, which has allowed Babcock as the existing tenant, to consolidate its operations to one floor in the building on a flexible lease arrangement.

Sherwood Business Park is one of the largest and most successful business parks in the Midlands. It is located adjacent to junction 27 of the M1 motorway, providing easy access to Nottingham, Derby and Mansfield. Other major office occupiers on the park include Nottinghamshire County Council, Dell Computers, Rolls-Royce, Boots and Prolog.

The property comprises high quality, Grade A, open plan office space with a number of meeting rooms, cellular offices, storage, WC and kitchen facilities, and car parking for 215 vehicles.

Phil Quiggin, director of LSH’s Nottingham office, said: “We’re delighted to have secured what we believe is the region’s largest office transaction of 2013, while providing accommodation to suit the changing business needs of both E.ON and Babcock. The deal was completed in less than six weeks, which is a positive sign for the current office market.”

David Tonks of DTZ, who acted on behalf of E.ON UK for the letting, said: “By securing a lease transfer with Babcock, E.ON has been able to accommodate a short term bubble in its needs within Sherwood Business Park.”

The letting follows a similar deal completed by LSH on behalf of Babcock to Miranda Technologies Ltd for 10,450 sq ft of office space at Pembroke House on Pegasus Business Park in Castle Donington, Derby.