HIGHCROSS AND DANESCROFT ATTRACT MORE LETTINGS AT iQUARTER, RUGBY

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.

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