Palace Capital has let 28,500 sq ft of office space at Sandringham House, Harlow, Essex to NASDAQ-listed Exela Technologies.
The Texas-headquartered company currently leases 17,500 sq ft in the 32,750 sq ft building on terms that were due expire in June 2018. It has taken an additional 11,000 sq ft on a five-year lease at a headline rent of £355,oo0 pa.
Exela will pay a rent of £177,681 pa until 14 November 2019 in lieu of a rent-free period. This represents a rent uplift from £8.75 and £9.40 per sq ft to a headline rental of £12.50 per sq ft.
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