Northern Cross Hits Media Headlines
In the largest floor space letting so far this year, BDT have concluded a deal with Progressive Digital Media Group plc, by way of leasing 8,000 of space within Northern Cross on the Basing View business district.
Canadean Ltd, who are wholly owned by the aforementioned new tenant, PDMG plc, will operate from the 4th floor in the air conditioned building. They were poised to relocate to Reading but local senior staff maintained their allegiance to Basingstoke and have now moved to a centralised location with more immediate access to public transport services.
A new 10 year lease has been signed, with a 5 year tenant break option. The quoting rent of £7.50 per was agreed between the parties, plus incentives. The letting is the largest this year in the town, beating two transactions on Chineham earlier in the calendar, by a few hundred square feet. Total take up in the Basingstoke office market has struggled again this year, and stands at around 50,000 , to include one 20,000 freehold sale.
BDT were joint agents in representing Mars Pension Trustees and LaSalle Investment Management in the Northern Cross deal.
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