Two significant warehouse and industrial transactions have progressed at The Faraday Centre in Rutherford Road, Basingstoke. A total of 77,380 sq ft has been let in recent weeks, with both deals coincidentally completing within days of each other.
KnowHow, the end-to-end services band of Dixons Retail plc has signed a 5 year lease on Unit A, comprising 42,100 sq ft. Unit B, of 35,280 sq ft, has been let on a separate 5 year term to Ripley Engineering (UK) Ltd.
Baker Davidson Thomas (BDT) and Hicks Baker represented the landlord, AW Davis Properties, throughout negotiations. KnowHow was advised by London agents, Colliers International and Ripley(UK) was advised by Lamb Brooks, Solicitors. The agreed rents were based on figures of £4.50 psf, with each tenant agreeing to undertake improvements to their respective premises.
KnowHow will be relocating from outside of Basingstoke, and Ripley will expand from their current premises in nearby Rankine Road on the Daneshill Estate.
Richard Thomas at BDT commented ……”Almost inevitably after quite a lengthy marketing campaign, we received three independent offers for these two units at the same time! The Basingstoke warehouse market continues to show resilience in what otherwise still remains a challenging time for the local commercial property market”.
