Watling Real Estate has been tasked with selling a prominent mixed-use city centre investment in Nottingham. Ben Holyhead and Toby O’Sullivan of Watling are currently seeking offers in excess of £2.3 million for Huntingdon House at 278-290 Huntingdon Street, Nottingham. The property, totaling 16,256 sq ft, is currently 69% occupied and generates a gross annual rental income of £297,886. However, the agents emphasize the site’s potential for change of use and redevelopment, pending planning approval.
Huntingdon House is held on a long leasehold basis, with a 125-year lease from August 1977 at a peppercorn rent. The freehold is owned by Nottingham City Council, which is reportedly open to discussions regarding its sale. The property features a three-story building housing multi-let retail spaces and serviced office accommodations, along with covered car parking for 14 vehicles at the rear. The ground level comprises four self-contained shops facing Huntingdon Street, with additional frontages on Rick Street and Kent Street. The upper floors offer a mix of open-plan and cellular office spaces currently utilized as a serviced business center.
Ben Holyhead, an associate at Watling Real Estate’s Birmingham office, noted, “The surrounding area features a mix of property types, but strong demand for student and residential accommodations in Nottingham city center is prompting change-of-use developments. Huntingdon House presents various opportunities for asset management, such as rental increases, refurbishment, redevelopment, or potential conversion to student, residential, or co-living accommodations, subject to planning permissions.”
