Altum acquires Debenhams, Nottingham

August 2017
Long Row, Nottingham

Altum Capital has stepped up plans to acquire long income assets by purchasing the freehold investment of the Debenhams store in Nottingham for £25.85 million.

The prominent, landmark building is located on Old Market Square in the city centre between intu Victoria and intu Broadmarsh.

The store trades over four floors, with a total area of 196,604 sq ft (18,295 sq m). It is let to Debenhams Retail Plc until 2040, with a current rent of £1,479,983 pa and the benefit of future fixed uplifts.

Jack McCarron of Altum Capital commented: “We have acquired this attractive building, occupying a substantial corner site in the heart of the city centre. Nottingham is a vibrant shopping destination and is attracting significant investment over the next few years. This acquisition demonstrates our strategy of acquiring assets with long-term income, as well as benefiting from potential alternative use value. We are considering a number of other similar opportunities across the UK.”

GL Hearn advised Altum Capital. Colliers International represented the vendor.

Press Enquiries – Ian Purvis t: +44 (0) 20 7647 4420 e: ian@porterfield.co.uk