THE new commercial quarter in Nottingham's Southside is gathering momentum in the wake of another major deal bringing 250 staff into the area.

Ikano, the retail credit business which was originally part of the Swedish home furnishings giant Ikea, is to move into the Waterside building in Station Street.

In the biggest office letting of the year so far, the firm will relocate from its existing premises in the city to take more than 17,000 sq ft ranged across two floors.

It means there is now only one floor remaining in the building, which was built as part of McAleer and Rushe's Waterfront Plaza development, which also includes apartments and the Jurys Inn hotel.

Ikano's move is one of a series of major relocations to Southside, led by Nottingham City Council's move into Loxley House and games developer Crytek's move into Southreef.

Ikano's retail credit operation does work for Ikea, Harveys, Sleepmasters, Bensons, Habitat and New Look.

Stephen Burnside, managing director of Ikano UK, said: "This move positions us in a central area of Nottingham and provides us with a high quality working environment."

"We employ 250 people in Nottingham. These premises are near to key transport links and city centre amenities, which is ideal for our workforce. We are now working with the developer to fit out the space to our requirements and we'll be creating a stimulating working environment which reflects our culture and our Swedish roots."

Waterfront Plaza is a nine-storey building which offers 76,000 sq ft of space. It is already home to law firm Shoosmiths, investment management business Brewin Dolphin, Ultralase and East Midlands Trains.

The latest deal was put together by Innes England's Craig Straw, who acted on behalf of Ikano, and FHP's John Proctor, who represented McAleer and Rushe.

Straw said: "We worked with Ikano closely to review the opportunities available in Nottingham and Waterfront Plaza was the best strategic option. It positions the company well.

"This transaction represents the largest letting of existing space in Nottingham so far this year, which is obviously fantastic news for the city's economy and the Ikano name is sure to attract others to the area."

FHP's Proctor said the deal added to the sense of momentum around Southside as a commercial district.

He said: "The Ikano letting follows fast on the heels of Crytek, one of the largest gaming companies in the world, who relocated their office headquarters to the Southside district of Nottingham. This letting adds gravity to the area, leaving us with a single floor available within the building."

Stephen Davey, at McAleer and Rushe, said: "Nottingham's strength as a regional office centre attracted us to develop the Waterfront scheme in conjunction with the pre-let to Jurys Inn and we are thrilled to have such a high quality tenant line-up within the building."