News Article
SOME 26,000 SQ FT OF TRANSACTIONS CONCLUDED IN 2011
Just under 26,000 sq ft of open market lettings or lease renewals have taken place so far this year in Network House on Basing View, where BDT act in a joint agency role for Commercial Estates Group.
The largest transactions have involved lease renewals on two floor plates of 6,300 sq ft each, with CH2M and Wates Construction. Another existing tenant, Lutea Administration, have expanded within the building, whilst four open market lettings have been concluded with Procius Ltd, Asset Advantage, IMG Energy Watch and Key Training Ltd.
A further suite of 2,500 sq ft is also under offer at this time.
Deals have not reflected record rents of course, but nevertheless CEG are creating respectable levels of income whilst offsetting their rates and service charge liabilities in the process.
Office space does however, remain available in the building. The 7th floor offers two small suites of 780 sq ft and 1,380 sq ft, and there are three other single floors of 6,300 sq ft each. One of these floors could be subdivided into smaller suites from 2,000 sq ft. Rental levels are being achieved at between £12.50 – £14.00 psf, dependent upon lease length, and the size of the suite in question.
ENDS
