Client: Broomleigh Housing Association
Piaggio Group, one of the world’s leading manufacturers of two-wheel vehicles, was looking to move to Bromley from the London Bridge area, to take advantage of cheaper rents and easier access for executives.
Gerald Eve’s business space team was marketing the last remaining floor in Linden House, Bromley, for landlord Broomleigh Housing Association. Two other floors had successfully let to Capita and Bromley MyTime since the client had refurbished the building four years’ earlier. But the South East office market was facing a lot of competition for space and little demand.
Piaggio Group, one of the world’s leading manufacturers of two-wheel vehicles, was looking to move to Bromley from the London Bridge area, to take advantage of cheaper rents and easier access for executives. It required 4,500-5,000 sq ft and considered Linden House among a handful of buildings.
Following a casual telephone enquiry from Piaggio, Gerald Eve entered into nine months of negotiations with the scooter manufacturer before signing them to a new ten-year lease on the 4,757 sq ft second floor of Linden House at a rental of £71,355 pa.
Piaggio was attracted to Linden House by the flexibility of the client, particularly in the provision of a five-year break in the lease. The addition of ten on-site parking spaces and the building’s proximity to Bromley South railway station were also important attributes.
Broomleigh Homes occupies the remainder of Linden House so the letting to Piaggio takes the building to full occupancy. Gerald Eve delivered three tenants to the client in a poor market, resulting in a fully let property.
For more information, please contact Roland Jordan in our business space team who provided occupational agency advice in the office sector.
|
|