Leading UK property developer SevenCapital has recently agreed four lease renewals totalling over 55,000 sq ft at Eastwood House in Chelmsford.
Premier reinsurance intermediary and capital advisor, AON Benfield and national housebuilder, Vistry Homes, have signed brand new lease terms alongside leading construction group, Morgan Sindall and digital education provider, Education Software Solutions.
Purchased by SevenCapital in 2017, Eastwood House is a landmark three-storey office building totalling circa 120,000 sq ft situated in the heart of Chelmsford. Boasting enviable transport links via the nearby Chelmsford rail station, the building was previously committed to BAE Systems on a head lease.
Simon Dicken, senior director at SevenCapital, said: “We are delighted to have recently secured four lease renewals at Eastwood House. Prominently positioned in central Chelmsford, the building offers flexible office accommodation suitable for a wide range of occupiers and boasts excellent commuter links via rail and road.
“There has been a notable rental income uplift for the space renewed by our existing tenants, which is testament to the building’s high-quality accommodation and its unrivalled location in Essex’s principal commercial and administrative centre. Subsequent to agreeing new leases for extended periods for each of these tenants, it has provided a springboard for refurbishment of further suites during early 2022 and we look forward to welcoming further tenants to Eastwood House.”
Will Foster, partner at Knight Frank, agents for SevenCapital, comments: “We are pleased to have advised SevenCapital in successfully re-committing four important tenants to Eastwood House. The remaining space in the building offers a variety of suites from 1,400 sq ft upwards, which will allow our clients to appeal to the broadest possible range of city centre occupiers.”
John Logan, joint agent at Fenn Wright, said: “These multinational and national businesses are well-established at Eastwood House, which provides a fantastic city centre office solution for their staff and customers. Completion of these lease renewals illustrate their continued commitment to Chelmsford and their continued satisfaction of this prestigious office building. We are quoting a rental of £24.50 per sq ft for the remaining space and are confident of announcing further deals shortly.”
