Threadneedle, advised by Bray Fox Smith, have agreed a new 5 year lease with PwC on 1,634 sq m (17,587 sq ft) at 10 Bricket Road, St Albans at a rental of £351,740 per annum.
The property is a 2,443 sq m (26,291 sq ft) office building located at the junction of Bricket Road and Upper Marlborough Road, adjacent to St Albans city centre. Threadneedle has re-geared PwC into two floors within the three-storey building and is currently refurbishing two suites of 279 sq m (3,000 sq ft) and 465 sq m (5,000 sq ft), which will be available in March 2014 at a rental of £23 per sq ft. The refurbishment will change the look and feel of the building and includes a new entrance lobby and refurbished reception and ground floor WCs.
Paul Smith of Bray Fox Smith comments, “We took the opportunity to retain a major tenant but refurbish parts of the building and move rents on. This is an opportunity for an occupier to secure fully refurbished office space, with an excellent car parking ratio of 1:286 sq ft, in the heart of St Albans.”