DTZ has successfully completed a sale and leaseback deal on a multi-million pound Data Centre in Newark on Trent, Nottinghamshire on behalf of communications service provider, Timico.
Sudervest, a Reuben Brothers company, has purchased the freehold interest in the Data Centre for £5.1 million. The purchase price reflects a net initial yield of 8%.
DTZ acted on behalf of Timico Limted, which took a 25 year leaseback on the property, whilst GVA in Birmingham represented Sudervest, managed by Motcomb Estates Ltd.
Located on Brunel Business Park, less than two miles from Newark town centre, the 16,000 sq ft data centre and office building officially opened in January 2012 and is adjacent to Timico’s headquarters.
The property is a Tier 3 data centre facility and forms the first phase of Timico’s strategy to build the most advanced data centre in the Midlands. It currently has enough capacity to store a high resolution digital image of everyone on the planet.
George Alcock, Senior Surveyor at DTZ in Nottingham said: “The Data Centre sector is a growth market and we were able to combine the specialist knowledge of our data centre team in Birmingham with our regional investment agency capabilities to achieve a sale on favourable terms on behalf of Timico.”
Founded in 2004, Timico Limited is an independent managed service provider, supplying business strength communications and hosting solutions.