Mark Siddons secures large letting for Imperial House

4 April 2024
  • imperial house, cooke & arkwright, office letting, commercial property, newport office

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Mark Siddons, Associate Director in Cooke & Arkwright’s Business Space team, has completed the letting of Imperial House, Newport (26,672 sq.ft),  acting on behalf of the landlord Somerset District Council.

Mark commented ” while much of the post-Covid dialogue has focused on office occupiers downsizing to city centre buildings, it is reassuring to have been involved in a transaction of this significance, in the out of town sector. A few challenges were incurred during the legal process, requiring a multi-faceted approach from all parties, but a great result was secured in the end”.

Our client, Brendan Fisher, has quoted “we are very pleased with this letting, which demonstrates that although the market has contracted in previous years, there is still underlying demand for well finished and accessible offices in close proximity to the M4.  We’re very grateful for the efforts of Mark and all at Cooke & Arkwright in bringing this deal to fruition.”

Ross Griffin, Director at Savills, acted for the occupier commented “The Newport office market is a challenge, but we were pleased to act for this client on this strategic letting for them, in this instance a strong collaborative approach got this over the line.”

Mark Siddons added “In what has been a challenging office market over the last couple of years, the recent success at Imperial House, follows an earlier 40,222 sq.ft letting at The Refinery, Swansea Enterprise Park, achieved on behalf of the landlord Praxis, in August last year. Transactions of this stature serve as a timely reminder that there remains continued occupier demand for the right product, even in an unpredictable market”.

Mansford has expanded its investment portfolio over the last few years. Over this time Andrew West has provided us with a full rating valuation service which has involved giving a view on liabilities prior to acquisitions, as well as conducting negotiations with Valuation Officers on our UK estate. The portfolio includes a wide range of properties from shops, offices and pubs to major leisure schemes. He has been particularly successful in mitigating our liabilities to empty property rate, which has been an issue on acquisition prior to implementing our development and letting strategy. I have no hesitation in recommending Andrew's expertise in rating valuation for all property types. The profile of property within his portfolio and the successes achieved are testament to his position as an extremely accomplished rating practitioner.

Leopold Hall, Partner, Mansford LLP