CaRT quiet on £6,750,000 spend

THERE  has been no Press Release or any intimation that Canal & River Trust has spent £6,750.000  on an office building.

Whilst CaRT expects the public to donate £2.1 millions to repair a breach at Dutton on the Trent & Mersey Canal, it has spend over three times that amount buying a single commercial property, writes Allan Richards.

The Land Registry is moving into Castle Wharf House, Nottingham, which was quietly acquired by CaRT late last year.

Castle Wharf House

Castle Wharf House, a four storey (40,795 sq ft) office building was purchased for £6,750,000 in October last year. According to agents MK2 who acquired the building on CaRT's behalf 'The property is let on a low initial base rent providing for future rental growth'.

It is believed that the purchase represents the Trust's first major property acquisition.