Squarestone Asset Management has let two thirds of Canberra House in Swindon on behalf of family office fund, Monteagle Barlow Trust (MBT).
The 30,000 sqft modern HQ style office is located on Lydiard Fields Business Park close to the M4. It was acquired by the family office fund MBT in 2018 who fully refurbished the property to Grade A specification with a new VRF cooling system and LED lighting to appeal to the modern market.
Asset Manager Squarestone were appointed to work with local agents Loveday and national advisers Jones Lang La Salle to market what is frequently regarded as the best office in Swindon. Local occupier Allstar Business Solutions secured the top two floors at Canberra House extending to over 18,000 sqft, on a 7-year lease, with a move in date in mid-January 2021. The Property was marketed off a headline rent of £19.50psf.
Squarestone Founding partner Paul Coulter commented:
“When I first saw Canberra I immediately knew that we would have no problem in securing a tenant for this building in any market and I am delighted to have leased two thirds during a very challenging year. It sends a great message to the local market that Allstar chose to remain in Swindon, and Squarestone is proud to have provided the high-quality space needed for their staff and clients.
At sub £20 psf for such a premium space, Swindon can offer a real cost-effective alternative to other towns further along the M4 closer to London. In the post pandemic market, we believe Swindon will continue to attract large occupiers looking to move out of town for more space and car parking, to offer a better working environment for their staff whilst maintaining an affordable occupancy cost.”
Positioned on a strategic location adjacent to J16 of the M4 and A3102, Canberra House allows easy access from both the surrounding cities and the city centre. Lydiard Fields Business Park has a wide array of amenities including restaurants and hotels, catering for the office occupiers. Nearby, Lydiard Country Park provides recreation space allowing business to offers staff a location that supports their health and wellbeing. The property sits on a large site surrounded by an abundance of private car parking and is arranged around a central core allowing subdivision if necessary.
Paul Holland, Managing Director, UK Fuel at Fleetcor (parent company of Allstar), commented:
“Fleetcor are delighted to have secured office space at Canberra House within the Lydiard Fields Business Park. This is a high-quality office development that benefits our business, with the flexibility of a modern workspace for our employees that will be designed with our core values of collaboration and innovation in mind. This lease agreement underlines our commitment to provide a compelling office environment to our staff and continued investment in the local Swindon communities.”
The ground floor remains available on the market via letting agents JLL and Loveday.