The latest building offered at the Wakefield site of a leading commercial property developer and landlord is now fully occupied, following advice from law firm Gordons.
This success for Orion Office Express, part of Orion Commercial Properties Ltd, a sister company of Orion Homes, follows its re-purchase of the block at Benton Office Park, Horbury, where both organisations are based. The group originally built the property in 1999.
Known as Unit 1, the three-storey building offers about 2,000 sq ft of lettable space over three floors, under the Orion Office Express format. The new occupants are all established tenants at the site, who had outgrown their previous accommodation but wanted to stay there.
Unit 1 was purchased for an undisclosed sum from three private individuals who had owned the property for 13 years. They have now leased back the first floor in the name of their company, Polygraphica Equipment, for five years.
The full occupancy of Unit 1 means 6,800 sq ft of the 8,000 sq ft of Orion Office Express space at the park has been rented by 22 companies. Of the 36 lettable offices, ranging in size from 136 sq ft to 457 sq ft, only six remain available.
Gordons’ commercial property solicitor Michael Finnett undertook the due diligence work for the re-purchase and advised Orion on the contractual documentation for this and the leaseback arrangement.
Commenting about Gordons’ work on the project, Jo Lumb, director, Orion Office Express, said: “We always seek to accommodate the growth of our tenants with the provision of larger space on site and, with Gordons’ expert assistance, we were able to facilitate this within a tight timescale, which required a smooth, efficient completion of the re-purchase. It also means that we have freed up additional space to meet demand elsewhere on site.”
Orion Office Express offers flexible tenancies at competitive rates, with zero cost set-up packages at the Horbury site, aiming to provide fully operational business space within 24 hours, if necessary.
Michael Finnett said: “It’s great to see Unit 1 already fully let and it was a pleasure to help with the re-purchase and leaseback, particularly as the group have been clients of ours since 2006. Jo and her colleagues are offering a winning formula and we wish them every success as they continue to expand their portfolio of properties offering the distinct Orion Office Express approach. We’re already working with them on the securing of the last block at the site.”
Orion Office Express, a family-run business, offers tenancies from six months upwards, with the standard set-up package providing furniture, telephone, broadband, an intruder alarm system and dedicated parking. The company requests only small bonds and one month’s rent in advance, with its tenancy agreement being deliberately straightforward, so occupants can avoid funding legal advice.
Orion Office Express offers low overheads, with utility bills included in rents and the location’s exclusive BT lease line providing more reliable broadband than non-dedicated services offered by competitors. Set in fully landscaped grounds, the site’s buildings include communal kitchens, raised access flooring and security lighting, with the car park containing feature lighting.
Several tenants chose to relocate within the park when they expanded rather than look elsewhere prior to the repurchase of Unit 1. These included website design and development agency 6B Digital, Sten Architecture and domicillary care provider Angel Care.
