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Offices News and Deals
Acting on behalf of a private vendor, Louis Taylor LLP have sold 59 Newcastle Street, Burslem, Stoke-on-Trent to a private individual. The premises comprise 360 sq m (3,885 sq ft) and were sold for £130,000.
Rugby
Gladman Developments has disposed of more than 21,000 sq ft of new accommodation at Mitchell Court, Central Park, its speculative office development in Rugby.
National Grid Property Holdings Ltd has taken units nine and ten, stand alone buildings of 10,070 sq ft and 5,125 sq ft respectively, on a 10 year lease at £14.50 psf. Lambert Smith Hampton’s Northampton office and Storers acted for Gladman Developments. National Grid Property Holdings represented itself.
At the same time, The Chartered Accountants Benevolent Association (CABA) has acquired the freehold of unit 10, a 6,250 sq ft stand alone building, for £1,015,625 plus VAT. Lambert Smith Hampton’s Northampton office and Storers represented Gladman Developments, while Marriot Hardcastle acted for CABA.
Only three office units remain available at Gladman Developments’ Hargreaves Court at Staffordshire Technology Park in Stafford, with the disposal of three office units.
Impromptu Ltd has acquired the freehold of unit 1, a 2,250 sq ft unit, at a quoting price of £145 psf. Body Curves Stafford Ltd has taken a ten year lease on Unit 8, 2,250 sq ft, at a rent of £13 psf. Gladman Developments was advised on these deals by King Sturge’s Birmingham office and Miller Sandy’s Stafford office.
Investment company Assetz has acquired the freehold of Unit 5, a 5,250 sq ft, stand alone office building for £145 psf and immediately let it to United Co-operatives Travel Management, on a ten year lease, with a five year break at a rent of £13 psf.
Assetz has also acquired the freehold of Unit 15 at Parker Court, also a 5,250 sq ft stand alone office building, for £145 psf, which it intends to lease. Gladman Developments represented itself in the sales to Assetz. Millar Sandy and King Stuge acted for Assetz in the letting to United Co-operative Travel Management.