East Hampshire District Council has added to its investment portfolio with a property currently home to Rolls Royce admin services.
Jubilee House, in Derby, is the global administration centre for Rolls Royce’s Human Resources, Finance, Procurement and Group Property.
Bought for £11.15m, it brings the council’s portfolio to more than £105m. The portfolio generates more than £2m a year for public services.
Developed in 2001, the building totals 72,837 square feet and houses 300 employees.
Cllr Richard Millard, Leader of East Hampshire District Council, said: “Jubilee House is the perfect addition to our property portfolio. The building has a long lease and is situated in one of the fastest growing economic areas outside the south east.
“Our strategy focuses on buying high-quality commercial premises with blue chip tenants and Rolls Royce is one of the world’s most recognised brand names.
“By carefully growing our well-balanced property portfolio we can generate the income we need to maintain our excellent public services.”