Christmas comes early for Craigard at Cirencester Office Park
Craigard is delighted to have added value to their two-story Cotswold stone office building by securing the long term future of the building with two new lettings.
The building is let in its entirety to Corin Group Limited until January 2018 but they have vacated the property, relocating their office function into their new research, R&D and production facility on Love Lane Industrial Estate, Cirencester.
Working on a joint marketing campaign with Corin, two new sub-lettings have been agreed until lease expiry in January 2018. Crown Timber Limited have taken the entire ground floor, totalling 4,807 sq. ft. Whilst Trust Systems Limited have taken the entire first floor totalling 6,647 sq. ft.
In addition to the sub-lettings, Crown Timber Ltd has also agreed a 10-year reversionary lease of the ground floor from January 2018 at £14 per sq. ft.
“We’re delighted that this excellent property is now fully occupied again” comments David Foster. “Through strong partnership with our current tenants, we have been able to identify two new tenants for the building. One of whom has committed longer term to the building therefore mitigating our potential void risk in 2018 and adding significant value for our investors. Another successful deal, and a wonderful early Christmas present for Craigard."