January 2018 - Costar
Fidelity UK Real Estate Fund has completed the letting of 17,000 sq ft of offices in Bracknell to Bracknell Forest Homes.
The housing association have taken a 10 year lease with a five-year break over the ground and first floors at Fidelity’s Western Peninsula building on Western Road, which was fully refurbished following the departure of the previous tenant, Dell.
The letting rounded off a strong 2017 for the Bracknell market which saw total take-up exceed 220,000 sq ft, its highest for several years, against a background of sharply declining stock levels due to losses to permitted development residential conversions.
The second floor of just under 9,000 sq ft remains available.
DTRE and RARE advised Fidelity, Campbell Gordon advised Bracknell Forest Homes
Alison Puhar, Director, UK Real Estate at Fidelity International said: “Western Peninsula is a high quality office that offers great flexibility and excellent car parking. We are delighted to have completed the letting and to see good interest from other occupiers for the remainder floor.”
The Fidelity UK Real Estate Fund is Fidelity’s flagship real estate fund aimed exclusively at institutional investors. The Fund invests solely in the United Kingdom. Since its inception in 2008, the Fund has outperformed the IPD UK PFI – All balanced Property Fund Index by 2.1% pa and has a GAV of £475.5m.