McKay Securities has let 12,700 sq ft at Pegasus Place in Crawley, West Sussex, to the Buyco supermarket group for its head office.
The South East and London office and industrial-focused REIT has agreed a ten-year FRI lease, without breaks, of the recently refurbished office building to the Buyco, guaranteed by Palmer & Harvey McLane. The rent equates to £21.50 per sq ft and the tenant has secured a letting incentive equivalent to 24 months’ rent.
Pegasus Two is one of three office buildings at Pegasus Place developed by McKay in 2001. The letting leaves the scheme fully occupied.
The new letting comes shortly after McKay completed an £86.7m fundraising.
Simon Perkins, managing director of McKay, said: “We are pleased that Buyco has chosen Pegasus Place. It is another example of business expansion within the South East office market and occupier preference for modern, quality office space. Following the refurbishment of the building we have achieved a rental tone ahead of ERV, and secured a good-quality tenant on a long lease.”
Knight Frank and Maxwell Brown acted for McKay; Gerald Eve advised Buyco.
annabel.dixon@estatesgazette.com
