Bride Hall has prelet the final plot at its FoxholesBusiness Park in Hertford to Symonds Engineering. It isdeveloping a 5,806m2 (62,500 sq ft) industrial building which hasbeen let on a 20-year lease at £57 per m2 (£5.25 per sq ft) witha three-month rent-free period. It is funded by Standard Life ata yield of 7.75%. Holley Blake & Cooper and Lambert SmithHampton advised Bride Hall; Symonds was advised by CollinsCommercial, while Standard Life was advised by Lurie &Partners.
Lothbury Property Trust has bought the 4,350m2 (46,823sq ft) 10 Bedford Street and 68 Chandos Place, WC2, followingrefurbishment by Trafalgar House, for £14m. The income is£1.04m and the yield is 7.34%. Conway Morris advised TrafalgarHouse, while NWM Property Advisory acted for the buyer. TrafalgarHouse has also sold the 2,076m2 (22,340 sq ft) Persimmon House atBrooklands Business Park in Weybridge to BZW Property Investment Managementfor £6m.
Pilton Land and Lincoln Property Fund haveprelet a 260m2 (2,800 sq ft) shop at 35 King Street, Manchesterat a record zone A of over £150. Pentland Group, trading as Redor Dead, has taken a 15-year lease at £130,000 pa which includesa one-month rent-free period. Whitby Smith acted for Pentland,while Blair Kirkman and Lambert Smith Hampton advised thedevelopers.
Tony Martin is leaving Hodnett Martin Smith to make themost of the market upturn in development. He will stay on as aconsultant and can be contacted through the partnership.
