The East Midlands Property Awards 2020 which celebrate the achievements of the region's top professionals, developers, agents and architects have announced River Crescent, Nottingham as Property Deal of the Year.
Property Deal of the Year
Sponsored by Freeths
Winner: £23m sale of River Crescent, Nottingham.
The team behind the sale turned the site from what was widely regarded as a white elephant to a very attractive investment. The deal is a fantastic vote of confidence in Nottingham's economy.
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Estate Office advised on the acquisition of the 129 unit residential block for c.£23M in 2019 on behalf of Hong Kong based clients – and all within 7 days of accepting our client's offer.
River Crescent, which is majority let on ASTs is a unique development located on the banks of the River Trent and benefits from a luxurious resident’s gym, swimming pool and conference suites and produced a rental income in the region of £1,400,000 per annum.
This acquisition adds to our client's already substantial portfolio in the UK which we are continuing to expand nationwide.
Chaim Aziz, Managing Director at Estate Office, commented: “Our Hong Kong based clients are extremely pleased with their latest acquisition in Nottingham. We identified River Crescent as an ideal opportunity to add to our client's well established UK portfolio and were drawn to the both the quality of the development and its long term investment potential”.
Our thanks to the joint selling agents: William Shoebotham and James Wilson from Allsop as well as Piers de Winton and Michael Donaghy at Savills.
This is the latest acquisition we have concluded on behalf of our overseas investors and we continue to look for similar large scale residential blocks.
To see how we can help you, please call us on +44 (0)20 7266 8500.