A new joint venture between utilities companies Severn Trent and United Utilities will move its headquarters into Two Smithfield in Stoke-on-Trent.
The joint venture, known as Water Plus, will house its customer services and business improvement facilities teams across 38,300 sq ft on the building’s first and second floors. A 10-year lease has been agreed. Rents were undisclosed; however quoting rents for the scheme are £18 per sq ft.
The deal marks the first letting at the recently completed 81,496 sq ft building, which has floorplates of 19,000 sq ft and is widely considered the best grade A office space in the city.
Two Smithfield forms part of the first phase of the Smithfield masterplan, which offers development opportunities for 1.2m sq ft of office, retail and leisure space alongside 3.5 acres of public amenities.
Sue Amies-King, chief executive of Water Plus, said: “Stoke-on-Trent represents a perfect location for us, equidistant from Severn Trent’s offices in Birmingham and Coventry and UU’s base in Warrington.”
Bilfinger GVA is letting agent.
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