Cereal Partners have signed a 10 year lease for 14,925 sq ft office space in Albany Place, Welwyn Garden City with Threadneedle Investments, advised by Bray Fox Smith. Cereal Partners, a long term tenant of Albany Place have re-geared their lease, reducing their current presence within the complex, but have committed to Building 2 for the longer term. They have agreed an annual rent of £223,875 is at £15 per sq ft with an 18 month rent free period and with a tenant only break.
The remainder of the complex provides 55,000 sq ft of grade A office accommodation, which is undergoing further refurbishment and will be ready in Spring 2015. Albany Place comes with an excellent parking ratio of 1:237 sq ft and is a mere 3 minute walk from both Welwyn Garden City train station and town centre. It is 5 minutes by road from the A1(M) junction 4 or 6.
Cereal Partners is a joint venture between General Mills and Nestlé to produce breakfast cereals sold under the Nestlé brand, such as Shredded Wheat and Shreddies. The company’s UK division is based in Welwyn Garden City.