We gained vacant possession of this centrally located office building in 2016 and undertook a Grade A refurbishment including all-wooden floors, exposed ceilings, air conditioning and staff showers.
Previously let to one occupier at a rent equating to £26 per sq ft, the building is now fully let to three tenants at rents in excess of £45 per sq ft on the upper floors. This demonstrates the high quality of the building, strategic location close to the train station, and strength of the occupier market.
As a result, it has been a hugely successful initiative for our client resulting in an improved EPC rating and a net capital value gain of 45% (circa £2m).
