JVC Europe Agree To Sublet Warehouse Space At Harp View Business Park
Electronics manufacturer JVC Europe, advised by Bray Fox Smith, has agreed to sublet warehouse space it formerly occupied at Harp View Business Park in northwest London.
Nutritional products manufacturer Vitabiotics is to occupy the 94,479 sq ft warehouse element of the Orion building on the business park. Harp View Business Park is located next to Staples Corner road junction in northwest London, close to the start of the M1.
Vitabiotics has signed a seven-year sublease on the space, and its deal includes a break clause that it can exercise between the ends of the third and fifth years of the lease. The tenant will pay rent of £865,000 a year (£9.15/sq ft) for the first five years, and this will rise to £994,750 a year (£10.55/sq ft) for the final two years if Vitabiotics does not exercise its break clause. This is to reflect a higher open market rental value for the building at that time.
Vitabiotics previously occupied unit 3 on the park – measuring around 30,000 sq ft – but has surrendered that space to JVC Europe, which has already found a new tenant for it.
