Craigard Secures Quality Office Acquisition In The Heart Of Southampton
Mar , 12
Cornbrash Park Goes From Strength To Strength and Is Fully Occupied
Following a comprehensive refurbishment, Craigard is delighted to announce the letting of units 3b to 3f at Cornbrash Park in Chippenham.
Unit 3, comprising of five office suites of circa 1,500 sq ft, have been taken in their entirety by a local defence company at a headline rent of £15 per sq ft on a five year lease with a break at three. “This estate has definitely presented its challenges,” comments David Foster. “But we’ve persevered with the confidence that the fundamentals are strong and the space is of a great quality for the area. It’s clear this is now all paying off, which is fantastic for the syndicate supporting this.”
In addition to the letting, Craigard has also sold unit 2b on the estate to owner-occupier GreenHatch Ltd. “With limited options available to buy of this quality in the market at present, we’re delighted with this transaction,” adds David. “The sale was completed within just six months of the building being vacant, again another testament to the decisions we made when we acquired the property back in 2019. Cornbrash Park is now fully occupied. From here on, investors have decided to hold the asset, due to the favourable returns it’s producing.”
