Mothballed floors at Nottingham City Council HQ on the market for £24,000 a month

Floors three and four of the office building in Station Street were mothballed as part of plans to save £200,000 each year, after the Labour-run authority declared itself effectively bankrupt in November last year.

During a full council meeting in May, Coun Andrew Rule (Ind) asked the ruling Labour group what the long-term plan was for the space and if there were any holding costs.

Bulwell councillor and deputy leader Coun Ethan Radford (Lab) said there were no specific holding costs in relation to the vacant floors.

He also said the council was considering putting the space on the market.

The space has now appeared on Rightmove for long-term rent.

According to the website, between 18,000 and 84,000 square-feet of office space is available at a cost of £24,750 per month, or £16.50 per square-foot.

The advertisement says: “Loxley House is one of Nottingham’s major office buildings, with fully-glazed elevations and some of the largest open-plan floor plates in the city, all of which overlook a full-height central atrium allowing excellent natural light throughout the building.

The council purchased Loxley House in 2009 from financial firm Capital One.

Coun Rule told the Local Democracy Reporting Service: “It’s encouraging to see the portfolio holder has taken on the suggestion I put forward at the full council meeting, which will lead to the third and fourth floor generating an income for the council and bring an end to those areas of Loxley House being dead space.”

The council has been approached for comment.