Stockley Park has secured its first financial services tenant with Arkwright Insurance’s decision to take 12,500 sq ft at 3 Furzeground Way.
The company, advised by Chesterton, will pay a rent of £26 per sq ft on an 11-year lease with a break in the sixth year. A 17-month rent-free period was also agreed. Jones Lang Wootton and Grant & Partners are joint letting agents.
Elsewhere, MEPC and IBM are close to completing a letting of 26,000 sq ft to Brentford-based software company ISL at New Square, Heathrow. The rent is believed to be around £18 per sq ft and the deal includes 15 months rent-free. Weatherall Green & Smith and Rogers Chapman are letting agents.
New Square is also in the frame for two 50,000-sq ft requirements. DSC Communications from Weybridge and the US BancTec, both advised by Rogers Chapman, are looking at the development.
