BISHOPSGATE HOUSE, BROADFORD BUSINESS PARK, SHALFORD, NR GUILDFORD

Wadham and Isherwood on behalf of Zurich Assurance (c/o Threadneedle Property Investments Ltd) have recently regeared the lease on the 21,000 sq ft at Bishopsgate House, Broadford Business Park, Shalford, nr Guildford.

The tenant, Alphameric have extended their lease on the property for a further 15 years from September 2011 and hence expires 28 September 2026. The rent agreed is £301,484 per annum exclusive (£14.50 per sq ft) and is subject to review as at September 2016 and September 2021. The lease is granted inside the Landlord and Tenant Act and the lease incorporates a tenant’s break as at September 2022 on 6 months prior written notice.

As part of the deal Threadneedle took a surrender of the remaining 18 months on the lease of the 11,000 sq ft Northfield House at Broadford Business Park and this high tech building is now available for reletting on a flexible basis at an initial rent of around £6 per sq ft. In the transaction Wadham and Isherwood advised Threadneedle whilst the tenant was represented by Cummings Commercial.