Insurer and loss adjuster Cunningham Ellis & Buckle has put the remaining 1,858 sq m (20,000 sq ft) space in Norwich Union’s speculative Oakleigh House scheme in Cardiff into solicitors’ hands.
Earlier this year, CE&B took 1,858 sq m (20,000 sq ft) in the building but needed more space after Ellis & Buckle and Cunningham Hart merged in October. The decision to take the rest of the building means that the 3,716 sq m (40,000 sq ft) Oakleigh will be fully let a year after completion.
NU is believed to have achieved its quoting rent of £177.61 per sq m (£16.50 per sq ft) on the second deal and CE& B is looking to sign a new 16-year lease with no breaks. It is thought to be paying £161.46 per sq m (£15 per sq ft) on the space it took earlier.
Fryer Gilbert & Jepps is advising CE&B. DTZ Debenham Thorpe is letting agent on Oakleigh House.
EGi News 14/12/98
