Developer Citygrove has unveiled the first images of financial services provider St James’s Place’s new 55,000 sq ft corporate headquarters in Cirencester.
The FTSE 250 company has prelet the Stride Treglown-designed building on a 20-year lease at £17.50 per sq ft, with 12 months rent-free, with a profit-share based on any rise in the value of the building.
Citygrove chief executive Toby Baines said: “This is an innovative corporate occupier deal and we are delighted to have secured a tenant of such high calibre.”
St James’s Place, advised by Doherty Baines, is consolidating from six buildings in Cirencester to the site on Tetbury Road.
It marks the end of an eight-year search – made more difficult by the historic town’s restrictive planning regime – which included a potential relocation to Cheltenham, Swindon or Gloucester.
There is presently a council-owned leisure centre on the site. The council has plans for a new 40,000 sq ft leisure centre on the adjoining cattle market site.
References: EGi News 03/09/04
