Clients of asset manager Catalyst Capital LLP have purchased the Kingsgate office building in Redhill, from PPG Southern.
The landmark building, located at the heart of the town on the High Street, comprises 47,000 sq ft of new Grade A offices, and is the only space of this standard currently available in the town.
Balfour Beatty PLC has already leased 22,000 sq ft, meaning that only 25,000 sq ft remains available. Its parking provision is 1:360 sq ft, an excellent ratio for a town centre building, and the quoting rent is £25 per sq ft.
Will Foster, partner, national offices team at Knight Frank, commented; “Catalyst saw the opportunity to acquire a landmark building in a leading M25 location, which offers the key attributes many occupiers are looking for at present: Grade A accommodation, town centre amenities, and excellent accessibility by both rail and car. The absence of competing stock in Redhill and the shortage across the wider south M25 region, gives us confidence that the remaining space will see very strong levels of interest from occupiers.”
Maxwell Brown and Knight Frank are the retained letting agents at Kingsgate.
