Letting success at Woodley, Reading
15 April 2008
London and Cambridge has let eight out of nine units on its Base 329 scheme
London & Cambridge Properties Ltd has let eight out of nine units on its Base 329 scheme on Headley Road East, Woodley, Reading, at the quoting rents of £8.95 ft²
The 51,500 ft² project was 35% pre-let with units 4-6 going to Storage King. Four other deals were completed within weeks of practical completion with units going to Wilts Wholesale Electrical (unit 3), Loftlock (9), Pipeworks (8), BJA Design Exhibitions Ltd (1&2).
The Storage King transaction was based on a 25 year term with the others being for ten years. An average six month rent holiday was granted with two deals also having break clauses after five years subject to rental penalties.
Unit 7, the last remaining unit at 6,734 ft², is being offered at the same rent.
King Sturge and Fryer Holt acted as joint agents for London and Cambridge.
