27/10/2015

STRONG DEMAND FOR SMALL OFFICES IN GUILDFORD

POSTED IN General

There is a shortage of good quality small office suites available in Guildford, coupled with a strong level of demand and Wadham & Isherwood have just concluded 2 deals in the town which illustrates the competition that now exists for these suites.

Acting on behalf of Nyman Resource Ltd, Wadham & Isherwood have just completing a subletting of 675 sq.ft. at 6 Riverview Business Park, Walnut Tree Close to Cre8tive Rooms Ltd. This high quality ground floor suite, offered along with 2 car spaces, has been let on a lease for a term to expire in August 2019 at a rent of £20 per sq.ft.

The suite was on the market for less than a week, 3 parties viewed the accommodation, all of whom were interested, and a deal was ultimately arranged with Cre8tive Rooms Ltd.

In  another example, acting on behalf of Senergy (GB) Ltd, Wadham & Isherwood have just let the first floor of Meridian House in Chertsey Street, Guildford to Spatial Buzz Ltd. This first floor comprises a self contained, fully fitted, high quality suite of town centre offices available with 3 car spaces. The premises were offered in the market at a quoting rent of £25 per sq.ft., the property was on the market barely a week when 2 competitive bids were received. As a result best bids were called for and the property was eventually let to Spatial Buzz Ltd at a rent of £27 per sq.ft. exclusive.

Commenting on the deals Peter da Silva said “the market is such currently that when the right high quality suite becomes available, particularly in the town centre, demand is such that competitive situations will develop which will favour landlords and will result in rents being pushed up and other lease terms hardening”.