Clients of Aberdeen Asset Management have completed three occupier deals in four months at Sovereign House, a 75,000 sq ft office building, in Brighton, which has recently undergone an extensive refurbishment including a remodelled reception and a new glazed atrium.
In December 2012, Natural Motion Limited, the leading game technology and development company, took 4,978 sq ft at £22.50 per sq ft across part of the first floor.
This was followed in March 2013 by the completion of 6,996 sq ft to Groundsure Limited, the commercial environmental reporting company, at £23.50 per sq ft. In April 11,974 sq ft The City and Guilds London Institute completed on 11,974 sq ft at £23.00 per sq ft. Both these deals were completed on the 3rd floor.
A further 12,200 sq ft is currently under offer to two confidential parties with active interest from other parties for the remaining space.
The supply of Grade A space in Brighton is limited and the rents achieved are the highest in the area for the last ten years, confirming that Sovereign House offers the best Grade A accommodation in the town.
Aberdeen Asset Management was represented by Knight Frank and Stiles Harold Williams
Henry Wyld, national office team, Knight Frank, commented; “We are delighted that following completion of the refurbishment work on Sovereign House occupiers are now showing desire to be in the prime Brighton office accommodation. With limited Grade A supply and rising rental levels, Brighton provides a very positive story in the South East.”
