Scale Space has sold The Poynt flexible workspace centre in Nottingham to Foxhall Business Centres for an undisclosed price.
The 23,000 sq ft property offers a range of fully-fitted flexible workspace, an in-house café, contemporary amenity space and end-of-trip facilities, including showers and bike storage.
The property is held on a 999-year lease from June 2015 at a peppercorn rent and occupies a prominent position in Nottingham city centre.
Tom Wilton, operations director at Foxhall Business Centres, which currently operates four centres in Nottingham, said: “The acquisition of The Poynt represents a significant and highly considered step in our growth strategy. As an established independent operator in the city, adding a premier collaborative hub of this scale allows us to expand our workspace ecosystem perfectly. We are delighted to welcome the building’s existing members and its superb staff team into the Foxhall family.”
Douglas Green, from g8, which acted on behalf of Scale Space, added: “The signs are now encouraging as I am seeing increased interest from both national and regional operators looking to scale through acquisition rather than organic growth, particularly where opportunities exist to acquire stabilised operations with strong local brand recognition.”
