Following their recent purchase of Intec Business Park in Basingstoke, AEW UK Core Property Fund report early success with two lettings on the Park.
The first is to A B Distributors, a member of the Gowan Group, a Dublin based distribution Company, who have recently announced a joint venture with Groupe Brandt to distribute De Dietrich premium kitchen appliances throughout the UK, with their HQ operation in Basingstoke.
The company has taken about 2,500 sq.ft. at Intec 2 on a short lease, with a view to expanding into larger premises imminently.
The other letting is to Image Processing Technologies Limited, trading as Ominitek, who have taken part of the first floor of Intec 3, extending to just under 6,000 sq.ft, the Park’s flagship office building. The lease is for 10 years with a tenant only break at the fifth year at a rental close to the headline figure of £10 per sq.ft. exclusive.
In recent months, major demolition works on two redundant office buildings are nearing completion to make way for new developments, which will shortly be put before the planners for such uses that may include leisure, residential or a commercial employment use, the latter being on a Design & Build basis totalling just under a 100,000 sq.ft.
Woodford and Company arranged the lettings on behalf of AEW and are appointed as sole agents on the new development.
