Columbia Threadneedle, advised by Bray Fox Smith, has agreed a 10 year lease with the Department of Education at 34 Clarendon Road in Watford.
The Department has taken the final remaining space at this popular, refurbished office development and signed a 10 year lease on 3,028 sq ft, with a tenant only break at the end of the 3rd and 5th year. The DoE is paying £74,137 per annum, which equates to £24.50 per sq ft, with 4.5 months rent free.
34 Clarendon Road is a multi-let, four-storey office building within a short walk of Watford’s High Street and Watford Junction Station. It was fully refurbished in the 2000’s and provides 24,000 sq ft of energy efficient, Grade A space. Tenants include Vitae Financial Recruitment Ltd, Rhodia Holdings Ltd, The Right Medical Locum Company Ltd and TWRG (Waterhouse).
Columbia Threadneedle have recently sold 34 Clarendon Road. Bray Fox Smith were instrumental in moving rents from the late teens to the mid £20’s within 3 years and driven the vacancy rate to zero.