19/04/2015

Wadham & Isherwood conclude 2 further lettings in Woking as availability of office space in the town continues to tighten.

POSTED IN General

Two further office lettings in Woking

Acting on behalf of Oakmoore Estates, Wadham & Isherwood have let the Ground Floor (North Wing) of St Andrews House (4,350 sq.ft. approx) to Webfusion Ltd on the basis of a 10 year lease at a rent of £18 per sq.ft. per annum exclusive. The lease contains a rent review at the end of the fifth year of the term as well as tenant’s breaks at the end of the fifth and seventh years.

In adjacent Griffin House, acting on behalf of Runcycle Ltd, Wadham & Isherwood have let the entire first floor of the building (1, 969 sq.ft.) to Impact Oil & Gas on a new lease for a term expiring in March 2018 at a rent of £23 per sq.ft.

In commenting on the deals Peter da Silva said that these  two deals add to the continued take up of office accommodation in Woking Town Centre and further restrict the supply of office accommodation currently available. As a result market conditions continue to harden resulting in upward pressure on rents and marketing incentives coming in. St Andrews House is now fully let for the first time in a number of years and the £23 per sq.ft. letting in Griffin House shows a significant increase on the £16 per sq.ft deals agreed 3 or 4 years ago.

For further information on the above, or any matters pertaining to the Woking office market please contact Peter da Silva in the Guildford office on 01483 300176 or atpds@wadhamandisherwood.co.uk