Two lettings totaling just over 4000 sq ft have been achieved at Nurton Development’s Cardinal Square scheme following the refurbishment of one of three floors in its South Point block.
The lettings to Komplete and NHS Nottingham CityCare Partnership are for 2,719 and 1,356 sq foot and demonstrate the diversity of the building, attracting both large corporates and smaller enterprises.
Russell Rigby from Rigby and Co, letting agents for Cardinal Square said. “Traditionally the building may have been associated with occupiers looking for prestigious offices with large footplates including NHS Derby City and Jacobs Engineering, however with a lack of multi-let offices in the city – with many secondary office buildings being converted into residential as the property market bounces back – Cardinal Square is actually one of the few places close to the city centre to offer good quality grow-on space for start up businesses looking to expand and take the next step up.”
Cardinal Square is one of Derby’s most recognisable office buildings and sits in the intersection of the A61 and A52, on the eastern side of the Derby Inner Ring Road.
Russell continues: “It helps that landlords, Nurton Developments, are willing to be flexible and quite pragmatic even in a climate when the pendulum is moving away from the occupier. They are always willing to take the long term view and for a company such as Komplete, which recently rebranded and is clearly on an upward track, they see the potential for the company to perhaps take further space in the future.”
Komplete offer a range of specialist engineering services and has recently rebranded from Railway Projects to broaden its range of offerings. Nottingham CityCare is an award winning community healthcare provider, which is taking offices to deliver a school aged immunisation programme in the area.
Jessica Whittle from CityCare said: “Cardinal Square’s central location is ideally placed for City Care to deliver immunisations to schools within Derby City. The office space provided and flexibility of the Landlord sits very well with our requirements.”
With only 15,000 sq ft now available at Cardinal Square in suites of varying sizes, Russell Rigby believes the shortage of office stock in the city centre will make the building a natural destination but says occupiers need to move fast.
“We know there is a demand from many local companies looking to move back into the city centre but availability of good quality stock is a stumbling block. The prospects for new build coming forward seem pretty thin on the ground and so buildings refurbished to a high spec such as Cardinal Square are really at a premium now.
“We’d say to companies if you’re looking to move, now’s the time to start thinking about it whilst there are still options open to occupiers, otherwise a move in the future may mean a compromise rather than a decision to boost the bottom line.”