Sunday, November 28, 2021

University of Nottingham purchases 350,000 sq ft of buildings for new campus

Mapeley Steps Limited and Malabar Investment Holdings Limited, advised jointly by Savills and Metis, have sold the freehold of Castle Meadow Campus in Nottingham to the University of Nottingham.

The property was marketed at a guide price of offers in excess of £36 million.

Set across more than nine acres (three hectares), the campus comprises six highly specified three and four storey office buildings and a dedicated health & wellbeing hub totalling 351,247 sq ft (32,635 sq m).

Four of the five office buildings are let to Mapeley Steps Contractors Ltd until late 2022, and are currently occupied by HMRC who will be vacating at the end of September 2022 to new accommodation at Unity Square, whilst the remaining building is let to Browne Jacobson LLP.

Upon purchasing, the University has plans to provide a campus for final year and postgraduate students, realising its long standing ambitions to have a greater physical presence within the city centre.

Castle Meadow Campus occupies a prominent canal side position immediately to the south west of the City Centre within Nottingham’s central office core and is overlooked by the renowned Nottingham Castle. The Campus is within easy walking distance from Nottingham Train Station, Castle Marina Retail Park, Sainsbury’s and Aldi, and a number of pubs and restaurants.

Vice-Chancellor Professor Shearer West from the University of Nottingham said: “This is a symbolic milestone in the story of both the city and the University of Nottingham and presents a hugely exciting opportunity. Opening an additional UK campus is an expression of confidence in the future of both the University and the city of Nottingham.

“Having a campus in the city, with transport links that offer a gateway beyond the region, will help enhance our civic agenda and enable us to deliver on our ambitions to support jobs, investment and growth across the city. It also offers greater opportunities for collaboration with local business, industry and SMEs, making it easier for partners to engage with us and develop long-term, mutually beneficial relationships.

“For students in particular the site could enable greater and more convenient links with regional business and industry through placements, entrepreneurship, and collaboration to deliver a professional and practice-based curriculum, enhancing their graduate employment skills and opportunities to remain and work in the city.

“A civic and professional campus at Castle Meadow will accelerate the delivery of our strategic ambitions, demonstrating to the people of Nottingham just how far we are prepared to go to make a positive difference for the city, while offering the best of facilities for staff and current and future students.”

A representative from Malabar Investment Holdings Limited says: “This deal represents a successful conclusion to a very positive collaboration with Mapeley following the lease extension agreed with Browne Jacobson last year and we would like to thank the teams involved. It is exciting to see the Castle Meadow campus move into the next stage of its lifecycle, and we look forward to seeing the University’s plans delivered.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.







Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close