Two more lettings at Aerodrome Way, Heston
08 May 2008
King Sturge acted for CGNU on both transactions
CGNU Life Assurance Ltd, c/o Morley Fund Management, has let two further units on the Aerodrome Way Estate in Heston leaving only one unit available.
Unit 4, which provides a total of 11,512 ft² (GIA), including 997 ft² of first floor office accommodation, has been leased by Compac UK on a new 10 year lease with a break clause at year 5 at a rent of £109,364 pax (£9.50 ft²). The lease has a mid term rent review and been drawn to exclude sections 24-28 L & T Act ’54. The tenant was granted an initial 7 month rent free period with a 1 month penalty payment on the break clause.
Emanuel Freight Services Ltd has taken Unit 6 on a 7 year lease with a review at the end of the fifth year. The building provides 7,060ft² of storage accommodation with an additional 1,470 ft² of first floor office space. A rent equating to £9.50 ft² was agreed which was reduced to £4.75 ft² for the first year. Again, the lease excludes the security of tenure provisions of the ’54 Act.
Unit 9 extends to 4,024 ft², including 454 ft² of mezzanine office space. A rent of £10.75 ft² is being quoted.
King Sturge acted for CGNU on both transactions and are handling the remaining available unit.
