15 August 2018
Regus has signed a new 15-year lease for almost 30,000 sq ft at a prominent location in Crawley. Clearbell Capital, the private equity real estate fund manager, has has let 27,309 sq ft to Regus at CC3, Churchill Court.
The serviced office provider will pay an annual rent of £682,201, equating to £25.50 per sq ft.
The deal follows the £4m refurbishment of CC3 undertaken by Clearbell which includes an architecturally designed entrance and reception, new glazing at ground and first floor levels, raised floor and LED lighting.
Churchill Court is a self-contained campus of three buildings totalling 106,000 sq ft prominently located at the junction of Manor Royal and Gatwick Road.
Duncan Jarvis, director at Clearbell, said: "We are delighted to have let CC3 following the £4m speculative refurbishment in what is the largest single office letting in the Crawley/Gatwick market for over two years.
"The letting to Regus further improves their offering in the South East, most notably in Manor Royal, a prime business hub for the region. CC3 offers high quality flexible office space which will assist Regus in attracting high-quality clientele."
Andrew Birtwistle, development director at IWG, added: "CC3 will establish the Regus brand in a very prominent location within the successful Crawley Manor Royal business district. We very much look forward to the new centre opening later this year."
Churchill Court was acquired by Clearbell as part of the Chalk portfolio, comprising seven office assets in the South East.
Clearbell was advised by GVA, Vail Williams and SHW. Regus was advised by Vail Williams.
(As first published by Insider Media 8/8/18)