MAJOR DEAL BRINGS NEW JOBS TO PRESTIGE OFFICES

Office News

VF Corporation, which owns a range of iconic labels including Timberland, Vans, The North Face and Wrangler, is moving into The Curve, a 30,000 sq ft office building on the NG2 Business Park in Nottingham.

The move will bring 120 new jobs to Nottingham, with expansion also leading o the creation of a further 30 posts at another VF facility just outside the city. The Curve will become home to a customer service centre of excellence, with a multi-lingual team which is ultimately expected to grow to around 200 people.

The building is owned by Friends Life and managed on their behalf by F&C Reit. The Nottingham property consultancy FHP represented Friends Life in the transaction, which is being hailed as a significant inward investment win for the city.

John Proctor, who leads the office and industrial department at FHP, commented: “We are delighted to be part of the team which has brought VF to the city. F&C Reit takes a strategic long term view on its property assets and has the foresight and motivation to help deliver such an exciting move for the city and one which helps underpin Nottingham’s expertise in customer services.

“The Curve is a prominent Grade A building in one of the most prestigious addresses in the city, with VF Corporation joining a rage of blue chip occupiers including Experian, Speedo, Specsavers, Coutts and the Bank of England. It is a fitting location for a growing business which clearly has great ambitions.”

VF Corporation has had a presence at Calverton in Nottinghamshire for many years, where it already employs 200 people in warehousing and support functions. The new facility at The Curve will provide Europe-wide support for wholesale customers and for consumers buying through its expanding range of online stores.

A spokesperson for VF said: “We are pleased to expand in the Nottingham area, as VF has a strong history at our Calverton site – both in our operations and the ability to recruit quality employees to our growing company. We look forward to welcoming talented individuals, most of who will be multi-lingual with strong communication skills, who can help us continue to build strong relationships with our customers.”

One of the most significant inward investments in Nottingham for sometime, the deal has been welcomed by Lorraine Baggs, of Invest in Nottingham, the inward investment organisation for the city. She said: “VF is a valued employer in the city and county, and is making a significant contribution to our economy. We’ve been working together for some time to find the right solutions for the company to enable them to remain and expand in the area. We’re delighted to see them moving to The Curve and very much look forward to continuing to support them in the future.”

The complex transaction, which saw the tenant surrender its interest and Friends Life agree a new lease with VF, was secured by a team of consultants which also included Innes England and CBRE.

Craig Straw of Innes England acted for the outgoing tenant. He said: “This is a significant win for the city. The company has not only confirmed its commitment to retaining its presence in the county, it is planning to create further employment opportunities at both locations.”

Ashley Hancox, senior director at CBRE, acted for VF. He commented: “The letting to

VF Northern Europe is great news for Nottingham. The Curve was the perfect choice, not only because it can accommodate around 450 people, but also because of its close proximity to the city centre, access to the local skills base and the nearby transport links, and the quality of the accommodation.”

Councillor Nick McDonald, portfolio holder for jobs and growth at Nottingham City Council, welcomed VF to the city, commenting: “This new investment is great news for the city. It confirms the upward trend we are seeing for business in Nottingham currently.

“With recent news that our city is cited by the UK’s top firms for as a prime target for recruitment, deals on Grade A office space being up 130%, and £51m of business finance secured for the city, it’s becoming clear that Nottingham is more of a prime location for business than ever. Our aim is to keep the positive trend going and to ensure that local businesses and residents are the ones who benefit.”

Simon McIntosh of F & C Reit Asset Management added: “We are very pleased to have been able to work with VF – this is exactly the kind of proactive asset management approach that we seek to encourage across our entire property portfolio throughout the UK.”