The Immigration & Nationality Directorate (IND) has acquired offices in Hounslow, Feltham and Croydon totalling 13,765 sq m (148,167 sq ft) with an annual rent roll of over £2.2m.
IND has acquired 3,339 sq m (35,938 sq ft) of offices at Eaton House, Hounslow, on a 15-year lease, with a rent free period until 25 December 2002 (equivalent to £1.9m to cover the landlord’s contribution towards the cost of building refurbishment). A rent of £791,363 pa will be payable following the expiration of the rent-free period.
IND has also signed up for the 13th and 17th floors (West Wing) of Leon House, High Street, Croydon, totalling 1,036 sq m (11,154 sq ft). A ten-year lease has been agreed at a rent of £161,179 pa (£13,50 per sq ft), to include the tenant’s option to break in the fifth year. On the 18th floor of Leon House, IND has taken 1,061 sq m (11,426 sq ft) of space at a rent of 148,538 pa with a break option in the fifth year.
At Bedford Point, Croydon, the IND has taken a 17-year lease on 1,203 sq m (12,954 sq ft) at a rent of £213,741 pa with a tenant’s option to break in the fifth year. At Electric House, Wellesley Road, Croydon, IND has taken a ten-year lease at a rent of £603,420 on 4,757 sq m (51,213 sq ft). Again there is a tenant’s option to break in the fifth year.
At Hannover House, Plane Tree Crescent, Feltham, IND has taken an assignment of ICL’s lease, expiring in May 2004. A passing rent of £300,000 is payable for this self-contained two storey building, comprising 2,367 sq m (25,482 sq ft).
Lambert Smith Hampton acted on behalf of IND. FPD Savillis and Rogers Chapman acted for the landlords at Eaton House, Hounslow. Knight Frank and Stiles Harold Williams acted for the landlords at Leon House and Electric House and SHW acted solely on Bedford Point. Insignia Richard Ellis represented ICL at Hannover House, Feltham.
EGi News 06/11/00
