Cornerstone Real Estate Advisers Europe (“Cornerstone”), a subsidiary of Cornerstone Real Estate Advisers LLC, one of the largest global real estate investment managers, has secured two separate lettings at Hays House, Guildford, to engineering consultancy Mott MacDonald and smart systems developer Flexeye for 2392 m² and 542 m² respectively, on behalf of a separate account client.
Originally constructed in the 1980s, Cornerstone acquired the asset in 2012 and, earlier this year, undertook a number of asset management initiatives to optimise the existing space, including a full refurbishment, redesign of the external space and the construction of a rear extension. As part of the wider refurbishment, the net internal area was increased by almost 10%, alongside the installation of a disabled access lift, WC and shower facilities. Also included in the full refurbishment was an upgrade to the building’s specification, through the installation of a new air conditioning system, raised floor, metal tiled suspended ceilings and energy efficient LED lighting.
As a result of the refurbishment and redesign, Mott MacDonald has decided to expand its office presence within the asset, from 1025 m² to 2392 m² on a ten year lease at €123 per m². Flexeye temporarily vacated the premises to enable the construction works to proceed, but returned to the improved asset once works had completed signing a ten year lease at €130 per m².
Situated in a prime town centre location within Guildford, the newly refurbished space is within walking distance of various transport links within Surrey, including Guildford rail station and various bus links.
