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Pre-let Agreed with Travis Perkins

Pre-let Agreed with Travis Perkins

A pre-let Agreement for Lease has been concluded with Travis Perkins for a new 15,000 sq ft unit on the 1.5 acre site at Fareham Reach Business Park.  The development of the new unit is subject to planning, for which an application has been submitted.  Assuming planning is forthcoming, the new 20 years lease at £10.00psf with 12 months rent free is expected to commence in Q2 2016 after an 8 month build period.

The long term commitment of Travis Perkins to Fareham Reach will add to the tenant profile and average lease term at a rental level that demonstrates the continuing attraction of the Estate to South Coast occupiers.

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