February 20, 2009
Two new properties have been snapped up at the iQuarter office and industrial development at Rugby. Joint developers, Highcross and Danescroft have just completed deals on a 5,436 sq ft industrial unit and a 2,000 sq ft office building and have a further 3,600 sq ft under offer.
The 5,436 sq ft industrial/warehouse unit has been let to ASL, which already occupies an office building at the scheme. The company has taken the space on a 15-year lease at a rent of £6.50 per sq ft.
The Clarkson Hill Group plc, a local company, have taken Unit A1, a 2,000 sq ft office building at the development, on a five year lease at a rent of £15 per sq ft.
The iQuarter development includes 80,000 sq ft of offices and 93,500 sq ft of industrial accommodation and is located adjacent to Junction 1 of the M6 motorway. Following these latest lettings, the scheme is now 65% let or sold, six months after completion.
Highcross director, Chris Mills, said these latest deals are good news for the development and for the local area: “iQuarter is a high specification, flexible scheme in a great location close to the M6. These latest lettings, hard on the heels of recent significant deals with Orscheln Europe and Sentrum, are a vote of confidence in the scheme and in the attractions of Rugby as a business location.”
iQuarter has been designed to provide a mix of office and industrial accommodation, with individual offices available from 1,780 sq ft – 2,002 sq ft, up to the 24,400 sq ft self-contained Ikon building. There are six remaining industrial units ranging from 3,600 sq ft to 7,600 sq ft.
Agents for iQuarter are Lambert Smith Hampton and M3.
