RO secures Nottingham’s Castle Quarter as two global occupiers sign new leases

RO Real Estate is delighted to announce that it has agreed two new five-year leases; with Tata Consultancy Services Limited (TCS), and a global professional services firm, at 37 Park Row in Nottingham.

The tenants have entered new direct leases following the expiry of Nottingham City Council’s historic lease. RO Real Estate can now progress upgrades to the building, including improvements to energy performance, the replacement or refurbishment of fan coil units, enhanced shower and WC facilities and an updated reception area. The new leases begin at £17.10 per sq ft and rise to £27.50 per sq ft by year five.

TCS is a global leader in IT services, consulting and business solutions that partners with many of the world’s largest organisations. It has agreed a new five-year lease for the third floor, totalling 6,291 sq ft. A part of the Tata Group, India’s largest multinational business group, TCS has a highly skilled workforce across 55 countries and more than 200 service delivery centres worldwide. TCS has been in the UK for 50 years, and this new lease deal reflects its continued commitment to investing into the country as well as its regional presence in Nottingham.

In addition, a leading global professional services firm has recommitted to the building, taking the entire fourth floor, which extends to 6,291 sq ft. This large company has offices in more than 130 countries, and over 45,000 employees. The agreement with RO reaffirms the company’s long-term commitment to Nottingham, and the wider Midlands region.

Ed Davidson, Asset Management Director at RO Real Estate, commented:

“We are delighted that two major global occupiers have chosen to continue their occupancy at 37 Park Row. Both are well established in this strong location and have bought into our vision for modernising the building. We look forward to working with them in the coming months to bring the vision to life.”

37 Park Row is a 26,513 sq ft multi-let office building with 21 secure parking spaces, occupying a prime position in Nottingham’s historic Castle Quarter. The building sits close to major occupiers including KPMG, RBS and Eversheds and benefits from excellent access to the city’s retail and transport amenities.

Tata Consultancy Services Limited was advised by Spring 4 and Greenwoods Legal LLP; and RO Real Estate was advised by FHP and Womble Bond Dickinson.