CIT's Hook office development on Form achieving new headline rent.

12 July 2010

CIT, advised by Strutt & Parker and Hollis Hockley, has let 19,500 sq ft at Form:1, Bartley Wood Business Park, Hook, Hampshire, to First Drinks Brands Limited. The drinks distributor has taken part of the ground floor on a 10 year lease achieving a headline rent of £19.50 per sq ft, the highest rent achieved in the Blackwater Valley office market for over 18 months.

Form: is a unique office development comprising two buildings of which Form: 2 is now fully let.  Form:1, which consists of 74,188 sq ft, is the larger of the two buildings providing large open plan floors. The buildings are located on Bartley Wood Business Park which is less than a mile from Junction 5 of the M3.

Jeremy Nokes, Partner at Hollis Hockley, comments:

"We are delighted that First Drinks chose Form: 1, Hook as their location to relocate from Southampton.  They join Serco and Lenovo at Form and we are confident of letting the 3 remaining wings available from 13,000 sq ft up to 48,000 sq ft.  We continue to quote £23.50 per sq ft."

Hughes Ellard represented First Drinks Brands Limited.