New lettings offer a boost to office market in the city Thursday, April 22, 2010, 10:00
Occupier confidence appears to be showing signs of returning to the Exeter office market following the recent completion of two of the largest office lettings in the city this year at The Senate in Southernhay Gardens, reports Greg Walkerdine of King Sturge.
Solicitor Trowers & Hamlins LLP, whose head office is in London, has taken part of the first floor extending to 7,400sq ft.
Thomson Reuters, which already occupied part of the second floor in The Senate, is expanding to take the remainder of that floor, totalling approximately 14,500sq ft.
Both lettings are for terms of 10 years and at headline rents of �16.50 per sq ft.
Nigel Gray, of landlord Valad Property Group said: "We are delighted with the news that Trowers & Hamlins LLP has committed to occupying space in The Senate and Thomson Reuters is expanding to take additional space.
"The Senate is the best office building in Exeter and the decision by such high calibre companies to operate from The Senate reflects that."
Mr Walkerdine added: "While occupier demand has been low over the last 12 to 18 months there are signs that demand is slowly returning to the market as evidenced by these two recent lettings which is encouraging so early on in 2010.
"The Senate offers the only new, Grade A office accommodation in Exeter city centre and forms part of the Southernhay Gardens business community where occupiers include professional firms such as Foot Antsey, Rathbone Investments, Begbies Traynor Group, Everys Solicitors, Stones Solicitors, Hartnell Chanot Solicitors and Ford Simey Solicitors."
A further 22,000sq ft of Grade A quality office space is still available to let at The Senate.
All enquiries about the site should be directed to joint agents King Sturge on 01392 423696 or Alder King 01392 353080.
more info from http://www.southwestbusiness.co.uk/construction/New-lettings-offer-boost-office-market-city/article-2053971-detail/article.html
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