Vail Williams have acquired 39,050 sq ft of Grade A offices at the TOR development on behalf of Rank Group Plc in Maidenhead.
Rank Group Plc identified early its approaching lease end and were keen to upgrade its office accommodation to help attract and retain staff. Through utilising Vail Williams expertise, the selected building at Tor and the corresponding negotiated lease structure allows Rank Group Plc the flexibility to expand its workforce within the building.
The move allows Rank Group Plc to function in a modern environment across large floor plates facilitating team interaction and connectivity.
Charlie Nicholson, Partner at Vail Williams Thames Valley office comments: “Many office occupiers within the Thames Valley region are looking to upgrade their accommodation to attract and retain staff. Some great deals have been brokered in the region including Vail Williams’ recent acquisition of 39,050 sq ft at the TOR development on behalf of Rank Group Plc in Maidenhead.
“This agreement demonstrates the resilience of the Thames Valley market in the wake of market uncertainty in 2016. The deal was the largest office letting in Maidenhead in 2016 by some margin – and the continued retention of occupiers such as Rank Group Plc within the Royal Borough of Windsor and Maidenhead reinforces the area as a key business hub.
“Companies need their office space to function efficiently and, with upcoming lease events, companies should review options in conjunction with commercial experts and look to upgrade their workplace environment in order to attract and retain staff. The recent move of Rank Group Plc supports this opinion due to the high quality of office space acquired at the TOR speculative redevelopment by Blackrock and Rockspring. In particular, factors such as having a high quality coffee point helping to maximise the potential social and networking area within reception, through to the number of car charging points were provided for at TOR.
“Rank Group Plc’s move really demonstrates a vote of confidence in new speculative development of office space, in the Thames Valley region. The Town Centre redevelopment in Maidenhead (The Landing) in conjunction with the arrival of the Elizabeth Line is creating real momentum in the Town.”
Michael Pryer, partner at Rockspring, said: “This successful letting to Rank Group Plc is testament to both the quality of the building and the resilience of the Thames Valley market in the wake of the Brexit vote.
“It also reinforces our belief in Maidenhead as a key Thames Valley centre, given the amenities and the standard of living it offers, as well as superb transport connections, all of which should further improve with the imminent arrival of Crossrail in 2019.”
Images of the property are available here: http://www.tormaidenhead.co.uk/gallery.html.