06/08/2013

New letting at Millennium Centre, Farnham

POSTED IN General

The Millennium Centre was developed in the late 1990’s, and provides four self contained air conditioned office buildings totalling some 40,000 sq.ft. (3,716 sq.m.).

Molex House, one of the buildings on the development, has an area in total of around 8,000 sq.ft. (743 sq.m.) with the second floor of some 4,000 sq.ft. (372 sq.m.) being let to Molex, who previously occupied the whole building.

As a result of Molex freeing up of part of the building BNP Paribas took the opportunity to carry out a comprehensive refurbishment, with the result that the building now offers Grade A office accommodation with new air con, up to date lighting etc.

This recent letting amounted to an area just under 2,000 sq.ft. (186 sq.m.) to include 12 car spaces.  The new tenants are Property Insurance Initiatives UK Limited, who specialise in large commercial property insurance, and they were granted a new 5 year lease at a rent of £30,000 per annum.

Chris Lock of Wadham & Isherwood, the letting agents for BNP Paribas, commented ‘this letting, together with other recent lettings further emphasises the improvement in the office market with the take up of space improving following the downturn in 2008 and the static market over the following 3/4 years.  Currently the remaining wing of Molex House is under offer with completion of the letting expected shortly.

Elsewhere on Millennium Wadham & Isherwood have recently commenced marketing an 7,415 sq.ft. (689 sq.m.) self contained office building, formally known as Excalibur House, and following a comprehensive refurbishment this will be available for occupation in the Autumn.