Strong Lettings Performance for Highcross
Highcross has let more than 1.5m sq ft of office and industrial space so far this year, agreeing 183 new lettings, with a rental value in excess of £7.7m.
In addition, a further 188,000 sq ft of business space is currently under offer, which will take the new rental income this year above £9m.
Strong letting performances have been achieved across Highcross’ UK-wide portfolio, with particular success at the Waverleygate, Edinburgh; Lakeside North Harbour, Portsmouth and Toronto Square, Leeds office schemes. In the industrial portfolio, the largest deals were at Deacon Park in Merseyside and Crewe.
Top 2011 office deals:
Waverleygate, Edinburgh – Highcross let almost 70,000 sq ft at Waverleygate to Amazon, in two separate deals involving different divisions of the company. The 207,000 sq ft city centre office building is now 85% occupied, compared to 6% when it was acquired in early 2010. The latest occupier to sign is The Gym Group which has taken 17,000 sq ft, leaving just 25,000 sq ft still available.
1000 Lakeside, Portsmouth – A record 115,000 sq ft has been let at the landmark office building since the start of the year, including 54,000 sq ft to Capita Insurance Distribution. Other significant lettings included 17,000 sq to The Southern Co-operative and 13,500 sq ft to Hampshire law firm, Coffin Mew LLP.
Toronto Square, Leeds – Almost 30,000 sq ft has been let in seven separate deals so far this year, with new occupiers including Towry, Capsticks and Willis Group. The 90,000 sq ft office building’s strengths lie in its location in the city’s legal and financial district and award-winning environmental credentials.
Leading industrial lettings:
Crewe 213 – Warehouse One Distribution Ltd has taken the 213,000 sq ft warehouse/distribution facility, located on the Crewe Gates Industrial Estate, on a ten-year lease.
Big Rack, Deacon Park – Highcross let 130,000 sq ft at its Big Rack distribution warehouse in Deacon Park, Merseyside to logistics and storage company, Allen Logistics.
Whittle Estate, Leicester – Fashion and footwear retailer, Dune Group, stepped into a 43,000 sq ft unit at Highcross’ Whittle Estate near Leicester. Following this letting, the Whittle Estate is nearly 100% occupied.
Hayes – Highcross has let two warehouse/distribution units, totalling more than 70,000 sq ft, at Clayton Road, Hayes. The units’ proximity to Heathrow Airport, the M4 and M25 and high standards of refurbishment and security were key factors.
Nick Turner, asset management director at Highcross comments: “These latest figures are particularly positive taken against the continuing challenging economic conditions. They also follow another very strong performance in our latest occupier satisfaction survey, demonstrating the value of our commitment to providing a strong regional presence, active asset management and a flexible approach to meeting companies’ property needs.”