Acting for F&C Commercial Property Holdings through BMO Real Estate Partners, Hanover Green have concluded the 2017 rent review with the tenant, Novartis.
The rent review date was 6th January 2017 on the 64,227 sq ft office building arranged over ground and 4 upper floors. Hanover Green let the space 5 years ago at £850,000 pa (£14 per sq ft on the offices) following a comprehensive refurbishment by F&C. The rent has risen to £939,500 pa (£15.45 per sq ft on the offices) – an increase of over 10%.
Hanover Green acted for F & C Commercial property Holdings on the review.