Canmoor lands Optima for Swindon HQ

By Paul Norman - Friday, September 08, 2017 15:00

Canmoor has signed Optima Defence & Security Group for 20,000 sq ft of Grade A offices at its Kembrey Park campus in Swindon.

Optima has taken a 10 year lease straight within Cherry Orchard East, following a comprehensive refurbishment by the landlord.

Kembrey Park is one of the principal office buildings in the town and Canmoor have recently sought to take advantage of an acute lack of supply of Grade A stock.

According to agent Loveday’s latest Swindon Office Market Review availability of office stock in the market remains at the lowest level for 15 years having just dropped below the 600,000 sq ft mark.

This letting enables refurbishment of the remaining space (15,000 sq ft) on a speculative basis, with suites available from 1,500 sq ft.

Kembrey Park is located close to Swindon town centre and provides 250,000 sq ft of office accommodation.

Occupiers include Thames Water, Nokia, Honda and Tetra Tech. The Park has a ranged of on site amenities and is supported by good transport links and an excellent car parking ratio.

Whitmarsh Lockart, Loveday and Keningtons Chartered Surveyors are retained leasing agents for Canmoor.

CoStar Group UK Real Estate Analyst Marianne Fitzpatrick said: “Swindon’s occupier market has diversified of late, attracting a number of tenants from the tech, specialist manufacturing and life sciences industries. This latest letting to Optima Security should add to the markets’ growing dynamism, with the Defence Academy of the UK also based nearby, offering a pool of talent for recruitment.

"Loveday’s view on the lack of Grade A supply is also supported by the latest data from CoStar: a lack of new office development and the conversion of existing stock to other uses has brought office vacancies down sharply in recent years, particularly for Grade A space. This in turn has put upward pressure on rents, making refurbishment options attractive."

pnorman@costar.co.uk

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