Fast Track Lettings at Imperial House Reflects Targeted Building Improvements by Craigard
Craigard has let the ground, first and third floors of Imperial House in Southampton less than six months after purchasing it.
The first and third floors, totalling 4,425 sq ft have been let to IT Service provider aap3 Ltd on a 10 year lease with a five year break. The ground floor totals 1518 sq ft and has been let to business service company Verastar for five years with a three year break. Both lettings are at £17.50 per sq ft.
The early lettings reflect the hard work completed by Craigard to ensure the units were as attractive as possible, “Although the previous owners had refurbished the main office areas we quickly identified further aspects of the building that needed attention, the reception was uninspiring and M&E dated and inefficient," commented David Foster. “By updating the heating and air conditioning systems to a state of the art heat recovery system we have been able to offer companies some of the lowest overall occupancy costs in Central Southampton as well as a specification which is "as new". We’re delighted that this has generated instant success for us and the project demonstrates our corporate strength in hands on asset management.”
Imperial House was purchased in October 2018 and the £400,000 enhancement project was completed in March. CBRE and Realest are Craigard's letting agents and Ridge Asset Management advised aap3.