Brixton plc has agreed two further lettings at the 8-unit 137,000 sq ft Phase 2 of Premier Park, Park Royal. Premier Park is located to the North West of Central London easily accessed from the A40 Western Avenue and A406 North Circular Road. Situated within 400 metres of the A406, the Park fronts Abbey Road, the main route through Park Royal which is London's largest industrial and commercial center.
An agreement for lease has been signed with Katsouris Fresh Foods on a total of 35,792 sq ft in units 5 and 6 at a rental of €579,176 p.a (€16.18 per sq ft). The lease runs for 10 years with 6 months rent free and a tenant's option to break after 5 years on payment of a 6 month break penalty.
Katsouris will also remain tenants of Brixton in 4 other units totalling 67,000 sq ft in Park Royal.
The overall scheme was completed in July 2005 and over 101,000 sq ft has now been let at rents averaging €15.66 per sq ft which is in excess of 8% above the appraisal rent at commencement of the development.
Two units of just over 36,000 sq ft remain available at asking rents of €17.07 per sq ft through Brixton's letting agents CB Richard Ellis and King Sturge.