Maplecroft, the world’s leading global risk analytics and forecasting company has taken the final two floors at the recently refurbished Cambridge House in Bath.
The deal, advised by property consultants JLL, follows the completion of an extensive renovation programme and sees the firm take 10,000 sq ft over the fourth and fifth floors.
Maplecroft, which has decided to make the move as part of its expansion and recruitment strategy, will complement the impressive tenant mix at the building that already includes Novia, a wealth management company; Aegon, an international provider of life insurance, pensions and asset management; and IPL, software development consultants.
John Mulholland, director at JLL who acted on behalf of the building’s owners, Maybrook Properties, said: “This letting is testament to the quality of the refurbishment that has been carried out and is also further proof that the office market in Bath is continuing to improve.
“There are real concerns surrounding supply of office space in the city centre which is becoming increasingly restricted. Conditions are ripe for more speculative development to take place.”
Ed Cole, CFO and founder of Maplecroft, added: “The move to Cambridge House will be a step change for the company, which has its roots firmly in the city yet offers a global service to the world’s largest corporations.
“We are looking forward to our new working environment and are very excited about the move. We believe that we will attract even more high calibre clients to visit Maplecroft because of our modern facilities and location in a world heritage city”.
Andrew Duckett, development consultant to Maybrook, said: “The Maplecroft brand will undoubtedly enhance the profile of the building and the fifth floor in particular will be without doubt one of the best suites in the city centre.”
Maplecroft is re-locating its 80 employees from The Towers in St. Stephen’s Street in May 2014.
