g8 acts on sale of Poynt North, Nottingham flex business

g8 Consult acted on behalf of Scale Space on the sale of The Poynt, an established and profitable flex operating business in Nottingham, to East Midlands operator, Foxhall Business Centres.

The Poynt is a self-contained multi-storey flex operation with a total net internal area of approximately 23,000 sq. ft. The property offers a range of fully fitted flexible workspace, an in-house café, contemporary amenity space and end-of-journey 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 within Nottingham city centre, close to the main retail and leisure facilities.

Foxhall currently run and operates four centres in Nottingham, testimony that the city has developed into one of the strongest regional flex markets outside the core UK cities. The region’s growth is heavily supported by a thriving tech and creative sector, an exceptional pipeline of graduate talent, and comparatively attractive occupational costs.

g8’s Douglas Green commented: “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.”

Tom Wilton, Operations Director at Foxhall Business Centres, commented: "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."