Brydell Partners, the real estate investment group, has secured one of the largest specialist insurance businesses, Pen Underwriting, part of the Arthur J Gallagher group, as a new tenant at The Galleria, Crawley.
Global property adviser, Knight Frank, acted for Brydell Partners, achieving a record rent for Crawley town centre. Pen Underwriting will occupy 4,632 sq ft on the third floor on a 10-year lease, at a headline rent of £25.50 per sq ft.
Pen Underwriting has taken space at the high quality office building in order to consolidate their Horsham and Maidstone offices. The specialist insurance business joins marketing agency RAPP Code, a subsidiary of Omnicom, who took space in the building earlier in 2019.
Jack Riley, Associate in National Offices, Knight Frank, said: “This is an important letting for both The Galleria and the local market. It highlights the attraction of Crawley as a business destination and this is reflected in a record equalling rent for the town centre. It is proof that occupiers are keen to commit to the high quality space which can best serve their business needs.
“Pen Underwriting is a new occupier migrating into Crawley town centre, consolidating their Horsham and Maidstone offices at The Galleria. This reflects the town centre’s strong transportation links, corporate critical mass and excellent amenity provision”.
The property has 24,615 sq ft remaining to be let and can accommodate requirements from 3,191 sq ft. The quoting rent is £26.50 per sq ft.
Located in the heart of the Gatwick Diamond, The Galleria is a four-minute walk from Crawley train station, which provides direct access to Gatwick Airport and central London.
Pen Underwriting was advised by Gerald Eve and Brydell Partners are advised by Knight Frank and DTRE.