The £2.6 bln SWIP Property Trust, now part of Aberdeen Asset Management, and Centurion Properties, the UK asset and development manager, have completed a new lease agreement for 110,000 ft² (approx. 10,220m²) at St Martins Business Centre, Bedford, with Fujifilm UK Ltd, part of the world's largest photographic and imaging company.
Fujifilm UK Ltd has renewed its lease on the office and industrial space, which includes its UK headquarters, for a further seven years until 2021 at an initial total rent of £959,930 a year.
St Martins Business Centre forms part of the Cambridge Road Industrial Estate, an established commercial area on the southern edge of Bedford. Cambridge Road benefits from excellent access to the A421, the recently-upgraded dual carriageway, which links Bedford to the A1 and the M1.
The estate, which was acquired by SWIPPT and Centurion in March 2012, comprises 17 hi-tech industrial and warehouse units and two office buildings, which were constructed in phases during the 1980s and early 1990s. Units range from 10,222 ft² to 51,183 ft² (approx. 949 m² to 4,755 m²)
Paul Reid, Head of Asset Management at Centurion Properties, said: “We are delighted to have extended our relationship with Fujifilm UK Ltd, which is one of the most important customers in our portfolio. The lease agreement is testament to the emphasis we place on tenant retention”.
Kerri Hunter, Deputy Manager of the SWIP Property Trust, commented: “The appetite for premium office and industrial space in regional locations such as Bedford, which have accessibility to key transport links, remains strong as occupiers like Fujifilm UK Ltd recognise the attractions of a strategically positioned business centre like St Martins. We very much look forward to further developing our relationship with Fujifilm UK Ltd over their extended lease term.”
Letting agents at St Martins Business Centre are Lambert Smith Hampton and Douglas Duff.
Source: Centurion Properties