Aitchison Raffety - Nottingham, Irwin Business Centre in Lincoln Street, Basford

Date: 08 Mar 2010

Nottingham development sold by liquidators.

Aitchison Raffety, acting on behalf of a consortium of banks, has completed the disposal of a substantial development in Nottingham which was in the hands of liquidators.

The Irwin Business Centre in Lincoln Street, Basford comprises eight modern, self-contained office units totalling 9,320 sq ft. The development was sold to a private buyer for £350,000. IDC & Associates surveyors acted for the purchaser.

"This was a classic asset recovery situation," commented Aitchison Raffety Group Director, Michael Hodge. "We were brought in by the consortium of banks which had financed the scheme. Our role has involved sorting out numerous planning and legal issues in order to enable the scheme to be marketed by best bids leading to an eventual disposal."

The Irwin Business Centre is an important development in Nottingham and will now be taken forward to completion by the new owners.

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