TH Real Estate, on behalf of its UK Property Fund, has secured the biggest office letting in Redhill so far this year.
The first floor of Forum House, Redhill, has been let to Independent Commercial Broking Limited (IBC). IBC took the 6,116 ft² (approx. 568 m²) floor on a new 15-year lease, following a refurbishment of the space last year, at a starting rent of £19/ft² (approx. €287/m²) rising to £20/ft² (approx. €302/m²). Alchemy Asset Management, oversaw the refurbishment and letting activity.
TH Real Estate bought Forum House from a private owner in June 2014, at which time it was 60% vacant. Selective refurbishment of the vacant space, as well as the common parts, has seen the building’s letting prospects significantly improve.
The Fund has also re-structured the lease to Handelsbanken, who occupy space on the ground floor.
TH Real Estate was represented by Alchemy Asset Management, Altus Maxwell Brown and Hurst Warne. IBC was represented by Arkwright & Co.
Source: TH Real Estate
