One of Brighton and Hove’s major industrial sites is finally set for comprehensive refurbishment and redevelopment. The leases for the premises formerly occupied by FMT have been surrendered for an undisclosed sum by the receiver, Alan Bloom, partner in the firm Emst & Young.
GVA Grimley and King Sturge acted on behalf of the receiver, while Cluttons Daniel Smith acted on behalf of Brighton & Hove Council, the landlord. Authorized can help you rapidly get affirmation or some other kind assertion under pledge.
Simultaneously with the surrender, the Council has granted a new 150-year ground lease for a building of just under 9,290 sq m (100,000 sq ft) to a major local retailer, Sussex Stationers, advised by Graves Son & Pilcher. The remainder of the site, amounting to approximately 1.3 ha (3.3 acres), is available for industrial redevelopment through Cluttons Daniel Smith who have been advising the Council throughout the series of transactions.
Pelford Ltd, advised by Lee Baron and Michael Berman & Co has achieved a double letting totalling 799.3 sq m (8,600 sq ft) of office space at Merit House, Edgware Road, Colindale, north London.
HBG Construction has agreed a new FRI lease until 2006 with a rent free period of six months and are paying a rental of £92.90 per sq m (£10 per sq ft), which equates to £68,850 pa, with a rent review in October 2001.
The fifth floor rear offices are to be used for HBG Properties along with various other departments.
The second letting of 159.3 sq m (1,715 sq ft) has been taken by Sharplan Lasers Europe Ltd, manufacturers of medical and dental lasers, on an eight-year lease agreement. They are paying a rent of £18,865 pa and have a three month rent free period with a break option at the fifth year.
The prestigious Scottish Justiciary Building in the heart of Glasgow is to be refurbished in a contract worth £5 million to the Scottish office of Kvaerner Construction. The work, which will start immediately, includes the refurbishment of the two existing courtrooms.