DTZ, part of UGL Services, has successfully completed a sale and leaseback deal on a multi-million pound Data Centre in Newark on Trent on behalf of communications service provider, Timico. Sudervest, a Reuben Brothers company, has purchased the freehold interest in the Data Centre for £5.1million. The purchase price reflects a net initial yield of 8%.
DTZ’s investment team in Birmingham and Nottingham 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.