Costain snap up newly refurbished office building
July 2014
Naylors Chartered Surveyors and Thomas Stevenson have jointly let the newly refurbished Wellington House at Preston Farm Business Park to Costain, an international engineering and construction group.
The detached two storey office building, which is owned by Vardy Property Group, provides 8,341 sq ft of self-contained office space with its own dedicated parking. The letting follows a speculative refurbishment project managed by Naylors’ building consultancy team on behalf of Vardy, which saw the property converted from a mixed use storage and administrative unit into an attractive fully specified office facility.
Costain, who are one of the UK’s leading engineering solutions providers are expanding from nearby premises on the estate and have committed to a 10 year lease on the building.
Bill Naylor, director at Naylors commented: ‘Following a significant refurbishment project, which was completed in September last year, Wellington House now offers newly re-fitted high specification office space benefitting from an attractive reception area and flexible open plan floor plates. This provided the perfect opportunity for Costain to expand into quality accommodation within the same locality.’
Paul Stevenson of Thomas Stevenson added: “It was an interesting transaction to conclude, Costain are a quality tenant and we were keen to ensure that we secured them for this Estate, It helped that we were able to make alterations to Parking, and provide Air conditioning issues that were important to Costain. In this market it is important to try and meet a tenants requirements”
Naylors asset management team also manage the Vardy Property Group’s holdings at Preston Farm Park.