Having recently bought the Egale office scheme in Watford from Standard Life, Threadneedle Properties , advised by Bray Fox Smith, has let the vacant element to one of the existing tenants, Coface (UK) Ltd and has simultaneously regeared the lease on the 2nd and 3rd floors. Coface will transfer staff from its other office in the Watford, and will now occupy three floors, which totals 16,800 sq ft on a 7 year lease and at a rent of £19.50 per sq ft and with an 18 month rent free period. Paul Smith of Bray Fox Smith says: ” This is a win-win situation for both landlord and occupier. We realised that there was potential for Coface to consolidate its operations in this building and by providing a package that worked for them we have also improved the unexpired term within the building .” Stimpsons advised Coface.
– Ends –
For further information please contact:
Paul Smith Bray Fox Smith 0207 629 5456
Ian Purvis Porterfield PR 0207 647 4420