Two further lettings at The Loddon Centre, in Wade Road, Basingstoke, mean that the entire estate is fully let once again: a total of 116,000 sq ft being occupied by 11 tenants.
The latest lettings have seen local company Evalve Limited expand into an 18,000 sq ft unit, whilst a further 5,000 sq ft has been let to Williams Refrigeration Limited, who will be relocating part of their operations from Kent. Both tenants have signed into 10 year lease terms with 5 year break clause options.
The estate hit a crossroad 4 or 5 years ago when 8 units became vacant over an 18 month period, mainly as a result of lease terminations arising at the same time. The original owners of the estate, Hermes Real Estate, instigated a phased refurbishment plan of the general estate services and the individual units, and visibility from Wade Road was vastly improved in the process. Hermes subsequently sold their investment a year ago to Derbyshire County Council represented by the Colliers Capital asset management team. bdt were retained along with Colliers’ London office to lease the remaining space.
The joint agents bdt incorporating Woodford & Co and Hollis Hockley on behalf of Katana Property have let both Unit 3 Meridian Office Park, and also the first floor of Unit 1 Meridian Office Park. Unit 3 has been let to The OT Practice Limited, who have taken the whole building and have moved from their previous location in Hook. The building totalled 4,099 sq ft.
Giles Thompson of The OT Practice said “the building provided an ideal opportunity for us to expand in Hook where all of our staff are currently located. It is a great location with easy access to road and rail communications. It made logical sense for us to move to Meridian Office Park”.
On the first floor of Unit 2 Meridian Office Park, Bell Cornwell have signed a new lease, also moving from their premises in Hook. This unit totalled 2,089 sq ft and was let for a term of 10 years, with a tenant’s break.
Hollis Hockley and bdt incorporating Woodford & Company acted for the landlord, and London Clancy acted for Bell Cornwall. The OT Practice represented themselves.
On behalf of private clients, bdt have sold the Upper, Middle and South Barns at Minchens Court, Minchens Lane, Bramley. The units totalled approximately 4,800 sq ft of purpose built modern barns in a landscaped setting. The buildings were sold for residential conversion and will provide high quality flats in this attractive rural location.
Brian Pickett commented “We had strong interest in the properties which reflected their potential and excellent location, and we are still seeing good demand for residential conversion across the region”.
CSM Live the international branding and live experience company have expanded their Basingstoke operations, and as part of their move to larger premises in Basingstoke had instructed bdt incorporating Woodford & Company to sell their freehold unit at 9 Fosters Business Park. The unit totalled 1,161 sq ft with a mezzanine floor and was sold to private occupiers as a price of £155,000.
Brian Pickett of bdt Woodford & Company commented “we have recently had 4 units come up Fosters Business Park, all of which were either let, sold or under offer. This shows the popularity of this particular location”.
bdt incorporating Woodford & Company has let 2 suites at Chiltern House on behalf of private landlords. The first floor at 1,100 sq ft has been let to Exciting Escapes, who have expanded to a second unit in Basingstoke following their successful launch approximately a year ago.
The ground floor has been taken by AFBB Ltd to use as a treatment centre. The unit totals 1,065 sq ft.
The landlord now has one suite left in Yard House, May Place, totalling 675 sq ft, which is available on a new lease through BDT incorporating Woodford & Company.
UL, a global compliance, auditing and verification business, have agreed a new lease at Unit 1 & 2 on the Horizon development at Kingsland Business Park in northeast Basingstoke.
As part of a tripartite transaction, Capricorn Automotive Ltd – the previous occupier of the entire property – have taken a short lease back on half of the unit, to allow UL’s immediate occupancy and to enable their own operations to be downsized before migrating to a new facility later in the year.
UL have committed to a new 10 year lease at 1 & 2 Horizon (38,000 sq ft) and have simultaneously agreed a reversionary lease on the same term arrangement at their existing 11,000 sq ft facility (Unit 3), the adjoining premises. Rental levels remain undisclosed.
For the landlord, Legal & General Investment Management, this is an excellent result following on very quickly from their investment purchase of the entire Kingsland Business Park. The transaction also allows UL to meet their own expansion requirements, whilst Capricorn (advised by bdt) can now concentrate on reducing some overheads and moving into premises of approximately half the size.