HCL letting sets record rent for Watford

Indian multinational IT services company HCL Technologies has signed a lease for 13,720 sq ft of space over two floors at 45 Clarendon Road in Watford.

The deal agreed exceeded the quoting rent of £31 psf which represents a record rent for Watford, on a 10-year lease and reflects the quality of the space in the building and its location.

The office scheme set the previous record for Watford last year when law firm Veale Wasbrough Vizards paid £27.50/sq ft.

The scheme, built in 2001, sits at the heart of Watford’s main business district, close to Watford Junction station.
It features 23,655 sq ft of space over five floors and recently underwent a refurbishment resulting in a new reception and a business lounge.

In October 2016, TH Real Estate sold it to the Hadrian Trustees, c/o First Property Asset Management Ltd.

Hanover Green represented the landlord.