Lambert Smith Hampton (LSH) - Industrial Letting - Swindon

Date: 08 Feb 2008

National commercial property consultancy, Lambert Smith Hampton (LSH), has acquired 5,258 sq ft of industrial space at Unit 13, Hillmead Complex, Marshall Road, Swindon for First Engineering Ltd. First Engineering is a dynamic and expanding company, employing over 2,200 staff to provide the full scope of infrastructure services to clients in the rail industry.

Rodney Ackland, Babcock International Group Property Manager, said: "LSH acquired our current Swindon premises back in 2004, since then the business has gone from strength to strength. When Unit 13 became available it made sense to take on the lease and increase our presence on the Hillmead Complex."

First Engineering has agreed to take a sublease, with the option to break on 31 March 2009, of the previous tenant's lease, due to expire 24 March 2012. The previous tenant, Siix Europe, was represented by Loveday Commercial. The passing rent was agreed at £35,500 per annum, equating to £6.75 per sq ft.

Tom Gibbons, Director at LSH's Bristol office, said: "We are pleased that we could successfully facilitate First's expansion needs and believe we negotiated a favourable agreement which gives First the flexibility to break the lease in 2009, along with a preliminary period of rent free."

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