Client: NFU Mutual
Insurance company, NFU Mutual occupies a regional office in Penarth in the Vale of Glamorgan, which is going to be relocated to Cardiff. NFU Mutual appointed us at its acquisition agent.
The solution
With limited supply in the local market, our search identified a new office scheme in Cardiff Bay that would be suitable for our client’s needs. Global Reach - a scheme by the Bailey Group - is due for completion in August 2008. Totalling 60,000 sq ft, we acquired a wing of the building, providing self-contained, modern accommodation for NFU Mutual.
Results
Our negotiations secured 12,000 sq ft for NFU Mutual, on favourable terms – a 15 year lease with a ten year break at £15.75 psf.
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