Clearbell lets Voyager Place in one of the largest 2017 Thames Valley office letting
Clearbell Capital, the private equity real estate fund manager, has today announced on behalf of a fund it manages, that 56,750 sq ft has been let to FM Insurance Company Ltd at Voyager Place in Maidenhead.
The commercial property insurance firm has signed a new 10-year lease for office accommodation totalling 56,750 sq ft (5,272 sq m) and will occupy the building in its entirety.
The tenant will pay an annual rent of £1.74 million, equating to £32 per sq ft (£344 per sq m).
The letting follows the £7 million refurbishment of Voyager Place undertaken by Clearbell after the fund manager purchased the building in December 2015.
Duncan Jarvis, Director at Clearbell, said: “This deal is one of the largest single lettings in the South East in 2017. Located at the edge of town centre, in a key Thames Valley business location, the building provides excellent car parking provision and strong branding potential. The letting to FM Insurance Company, within 5 months of completing the refurbishment, vindicates the decision to take an early surrender and commit to a full Grade A refurbishment
Voyager Place was acquired as part of the Chalk portfolio, a portfolio of seven office assets in the South East.
Clearbell was advised by Savills and Lambert Smith Hampton.
Colliers International advised FMIC Ltd.