IRISH LIFE is planning to offload an office investment at Nottingham in the UK. Savill’s London office is seeking offers in excess of £10,440,000 (€12,500,286) for the seven-year- old office block, which will show a net initial yield of 7.5 per cent.

Cumberland Court is located within the main office core on Mount Street and is let to the legal firm of Freeth Cartwright for 25 years until 2028. There are tenant- only breaks in 2018 and 2023.

The five-storey building has a floor area of 4,502 sq m (48,459 sq ft) and 51 car parking spaces in the basement. The current rent of £828,000 (€990,733) equates to £17.09 (€20.46) per sq ft.

Nottingham is the commercial and administrative hub of the EastMidlands.

Irish Life did not respond this week to a series of questions about the property.