Rank signs for Maidenhead HQ

By Paul Norman - Wednesday, January 11, 2017 15:00

Rockspring Property Investment Managers and the BlackRock UK Property Fund have signed Rank Leisure Holdings for 40,000 sq ft of offices at their speculatively developed Tor development in the centre of Maidenhead, Berkshire in what is understood to be the largest office letting in the Thames Valley for two quarters, CoStar News can reveal.

Tor is a 68,000 sq ft office speculatively developed by BlackRock and development partner Bell Hammer and funded by Rockspring.

Rank has signed for the space on the first and second floors on a lease running until 2027 paying around £33 per sq ft.

The deal sees Rank retain its UK support office in Maidenhead where it has occupied Statesman House for some time.

Tor is now circa 60% leased with the remaining space available in suites from 4,000 sq ft to 27,500 sq ft. Offering floorplates up to 20,000 sq ft, the accommodation is available at a quoting rent of £36 per sq ft.

Michael Pryer, Partner at Rockspring, said: “This successful letting to Rank is testament to both the quality of the building and the resilience of the Thames Valley market in the wake of the Brexit vote. It also reinforces our belief in Maidenhead as a key Thames Valley centre which should continue to improve further with the imminent arrival of Cross Rail.”

BlackRock and Rockspring are advised by Bray Fox Smith and Cushman & Wakefield; Vail Williams advised Rank.

pnorman@costar.co.uk

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