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Bank roll HSBC's office prelet - the largest in the region for three years was a major boost to the market. Director Matthew Hunt talks to Lisa Pilkington
The contrast between HSBC's towering 1.1m sq ft Canada Square headquarters in London's Canary Wharf and the tired and outdated 48-acre Beeston Business Park on the outskirts of Nottingham could not be more striking.
These two worlds collided in January when HSBC Specialist Investments (HSIL) - the global bank's dedicated property and infrastructure investment arm (see box) - used its UK Active Property Fund to strike the East Midlands' largest office prelet deal for three years, after acquiring the mixed-use Beeston site last summer.
The £23m acquisition of the park and subsequent 42,000 sq ft office prelet to French IT services group Atos Origin represent a huge vote of confidence for the East Midlands.
Matthew Hunt is HSIL's director responsible for the Beeston project and for sourcing investment opportunities. He believes that, although a lack of development has seen the East Midlands - and in particular Nottingham - lag behind other UK regions in investment terms, things are finally starting to change.
"Although we've owned assets in Nottingham...