RENESAS TAKE 33,000 SQ FT OF OFFICES IN FARNBOROUGH

DB Real Estate can confirm that Renesas Electronics Corporation have taken a new 10 year lease on 33,000 sq ft of office space at Cody Technology Park, Farnborough from Qinetiq, the recently privatised defence contractor who have some 2 million sq ft of space at Cody Technology Park, which is adjacent to Farnborough Airport.

Renesas Electronics recently bought the baseband modem business of long-time technology partner Nokia for $200m and this resulted in the need for office space in the area but away from the existing Nokia HQ at Southwood, Farnborough. 

We are advised this is the company's most ambitious business move since it was formed by the merger of the Renesas Electronics and NEC semiconductor businesses, last year.

Renesas are paying £13.50 per sq ft and took on a 10 year lease with a break clause at the end of year 5.  Renesas were also given a 16 month rent free period.

For further information please contact the Camberley office of DB Real Estate on 01276 538300 or send an e mail to info@dbre.co.uk

THE CHANGING FACE OF CAMBERLEY

For some years now we have been faced with a huge supply of vacant office properties in Camberley town centre peaking at 208,000 sq ft which represented approx. 57% of all the office space in the town centre! 

With growth in the UK economy slowing and problems persisting in the global economy there was little prospect of all the vacant space being occupied in the near future.  Clearly something had to change. 

Well, at last, the situation is changing and anyone visiting Camberley will have seen scaffolding being erected, building materials being delivered and cranes on the skyline.

Four schemes are currently under construction in Camberley town centre with a fifth due to start; the old Sun Microsystems office, Sun House, on Pembroke Broadway has gone and a Travelodge budget hotel and three restaurants are being built.  The former St Georges Court office, once occupied by Nokia, in the High Street is being converted into 23 flats and Central House, another former office building, on the corner of Park Street and Pembroke Broadway, is being converted into serviced apartments.  Valzan House in London Road, an office again, has been given the go ahead to be converted into nine flats. 

In all 68,000 sq ft of office space has been taken out of the oversupply, reducing the amount of space available to 140,000 sq ft although this still represents 38% of all the office space in the town centre.

Finally, the former Sandhurst Tup public house on the corner of Park Street and London Road has gone and in its place a new Premier Inn budget hotel and three restaurants are being built.

Camberley is changing and these are positive changes which can only help the town grow and prosper.

For further information please contact the Camberley office of DB Real Estate on 01276 538300 or by e mail – info@dbre.co.uk

NEVER GIVE UP!

DB Real Estate can confirm that Speymill Contracts Ltd have taken an office suite of 800 sq ft in Admiral House, Camberley, where there is just 12 months left until the tenants headlease expires.

DB Real Estate act for Logica who hold the headlease until the end of June 2012.  Recognising that Speymill had won the tender to build the new Premier Inn next door, DB Real Estate approached Speymill to suggest they could take office space next door at Admiral House, for their works office rather than pay for Portacabins on site. 

Speymill decided this was a good idea and took a self-contained office on the ground floor until June 2102.  This does show that you should not give up, there are always short term requirements around, sometimes it is more a question of un-earthing them.

DB Real Estate acted for Logica whilst Speymill represented themselves.

For further information please contact the Camberley office of DB Real Estate on (01276) 538300

GREAT NEWS FOR THE WIDER CAMBERLEY ECONOMY

DB Real Estate is delighted to confirm that Spring Personnel Ltd has completed a new lease for a new branch in Camberley at 67/73 Park Street.

Spring Personnel has taken a new 3 year, flexible, lease on Suite 1, on all inclusive terms, which provides 670 sq ft of good quality office space, on the edge of the town centre and opposite the new leisure and retail scheme, The Atrium.

This is the first new location that Spring Personnel have opened in 3 years! which has to be seen as great news for Camberley.

DB Real Estate is also offering Suites 2 and 3, providing 530 sq ft to 1,190 sq ft, on flexible lease terms at an all-inclusive charge of £12.50 per sq ft.

For further information regarding the letting and for more information on the available office space, please contact the Camberley office of DB Real Estate on (01276) 538300.