Acting on behalf of The Council of the Borough of South Tyneside (c/o Aberdeen Asset Management), national commercial property consultancy, Lambert Smith Hampton (LSH), has secured a new tenant for the first floor at Queens Keep, Cumberland Place in Southampton.
The city centre office scheme comprises nearly 50,000 sq ft, with 2,200 sq ft now let to Raglan Housing Association on a new five year lease. The tenant’s relocation to Queens Keep is part of a comprehensive review of its office premises, which has resulted in the sale of a larger office base in Poole and the subsequent leasing of space in Reading and Southampton.
Steve Williams, Associate Director in LSH’s South Coast team, commented: “Take-up of office space in Southampton has seen some improvement in the year to date, when compared to 2010. However, the office market remains challenging as the economy continues its recovery. LSH’s South Coast agency team was appointed in the summer to act as joint marketing agent alongside BNP Paribas, and this early win is a positive sign for the remaining 3,000 sq ft in the building.”
Vail Williams represented Raglan throughout its relocation, and Josette Tucker added: “Raglan chose an excellent time for relocation and has been able to take advantage of the incentives available in the current tenant’s market. Queens Keep was the favoured choice; the city centre location provided good access to the train station and the building has been refurbished to provide quality accommodation with parking.”
