CBRE announce the completion of two deals within the Thames Valley
Leading global property advisor CB Richard Ellis has assigned the leasehold interest of over 25,000 sq ft space within the Thames Valley.
At Aquis House, CBRE has assigned 9,149 sq ft of office space within Reading Town Centre to BPP, the professional education company. BPP has agreed a rent of £21.75psf on the basis of a lease lasting until 2015 with an undisclosed rent free period. The lease had previously been held by Symantec, the network security provider represented by CBRE. BPP were represented by Jaggard Baker.
CBRE have also let 15,735 sq ft office space at 420 Thames Valley Park to SurfControl, the internet filtering company. SurfControl has acquired the lease from Xansa, which will amount to £23.50psf. The property will be used as the new headquarters for Surfcontrol, who are the leader in the Content Security market and has been a world leading Internet security company since 1997. CBRE represented Xansa. Surfcontrol were represented by Strutt & Parker
Recent research undertaken by CB Richard Ellis in the Thames Valley region has concluded that the market for development in the area is in a much healthier position than it has been for the past five years, and there are a number of towns where conditions are favourable for speculative development.
David Thomas, Associate Director at CBRE’s National Office Agency says, “Competition for sites so far in 2007 has been intense, and for many locations a new benchmark in land values is being established. This is driven in part by the lack of opportunity in the investment market, but also in anticipation of occupier demand and significant rental growth over the next five years”.