Interview with Richard Priestly MD of Exeid.com following the recent acquisition of St Nicholas Court a Commercial Office Property on Castle Gate Nottingham.
Six months on and we revisit Exeid.com and their latest office acquisition St Nicholas Court 25 to 27 Castle Gate, Nottingham. We talked with Managing Director Richard Priestley: So Richard, you acquired this building in the thick of what has been described as the most difficult trading conditions for 70 years in the commercial property sector. Was that a foolhardy or smart move and why? To be fair it was almost a bit of both. The property was first identified as a target by our CEO a few of years back. Basically, it was approximately 60% vacant but at that time the requirement to pay “empty rates liability” had not kicked in so the price tag, whilst much higher than what was eventually paid, was almost justified. So why wasn’t…