Quadrant Estates has secured an occupier for the final unit at its 51,000 sq ft Northdown office development at Eureka Park, Ashford. R.J Barwick and Sons Limited have taken a 10 year lease on the 1,400 sq ft Unit 170 at a rent of £18 psf.
The deal is the second to be confirmed for the Park in as many weeks, following the announcement that Smiths Medical International has taken 24,172 sq ft at Eureka’s headquarter building, ‘Herald’ at a rent of £19.50 per square foot. The Herald Building is now 70% let with just the 11,000 sq ft ground floor remaining.
Given the success of Herald and Northdown, Quadrant Estates are now working up plans for a second phase of Northdown offices following receipt of planning permission earlier this year. When completed Northdown II will total 100,000 sq ft and cements Eureka Park’s position as East Kent’s premier business park.
Tristram Gethin, Director at Quadrant Estates, said: “It is fantastic news that to be able to say, that in the current market, we have let all the space available at Northdown. Eureka Park is continuing to be built speculatively because we are still attracting the prestigious new employers to the region and they seem impressed by what Ashford now has to offer. Good quality office supply in Ashford and the surrounding areas is still really very restricted, especially for high-quality headquarters-style premises”.
Robert Martine of Martine Waghorn who negotiated the recent deals said: “We are finding that Ashford is still a very cost-effective location all round, and our recent lettings to both Barwicks at Northdown and Smiths Medical International at Herald reflect this. The majority of the demand is still coming from the significant number of Kent-based companies looking to expand into new premises but come November, when the new High Speed 1 domestic train line comes into effect, we expect that Ashford will be attracting occupiers to invest in the county from much further afield”.
Knight Frank, Martine Waghorn and Bidwells are the letting agents at Eureka Park.