Terrace Hill has secured around 17,000 sq ft of lettings, totalling over £155,000 pa, at its Brampton Industrial and Trade Park, Eastbourne, and Canningford House, Bristol, projects. The Company also announces the handover of an 8,000 sq ft office building, following a forward sale to Sovereign Housing which completed in May 2009, and the conclusion of Phase Two of Brabazon Office Park.
Brampton Industrial and Trade Park
Terrace Hill has let 7,909 sq ft to Menzies Distribution Ltd, a leading UK distributer of newspapers and magazines, who have signed a five-year lease at a rent of £59,317 per annum, equating to £7.50 per sq ft.
Canningford House
Terrace Hill has completed two new leases and the renewal of an existing lease, for a total of around 9,000 sq ft and over £95,000 of annualised income, at its Canningford House office scheme, 38 Victoria Street, Bristol, securing short-term income ahead of redevelopment.
Lyons Davidson, the Bristol-based national law practise, has taken new five year leases on a total of 6,725 sq ft of office space at the property, with three year break clauses, at a combined rent of £62,517 per annum. These lettings comprise the renewal of 4,250 sq ft on the first floor of the building and an additional lease on 2,475 sq ft on the second floor. Furthermore, it has agreed a rent of £10,140 pa on eight extra car parking spaces.
In addition, the entire fourth floor of the property has been let to Turning Point, the UK's leading Social Care Organisation, on a new three-year lease over 2,056 sq ft of office space from 31 March 2009 at a rent of £22,616, with an 18-month break clause.
Brabazon Office Park
Terrace Hill has completed construction of and launched the second and final phase of Brabazon Office Park, its 2.70 acre office scheme located in Filton, North Bristol. Brabazon provides a total of 45,000 sq ft in a range of self-contained buildings of between 1,825 sq ft and 9,500 sq ft. With the recent handover of an 8,000 sq ft building, forward purchased by Sovereign Housing for £1.85 million, over 41% of the project is now occupied.
For more information regarding Brampton please contact Nigel Wakefield or for Canningford House or Brabazon Office Park please contact Adam Pratt.