HMRC seals largest commercial letting in Telford for a decade
The largest commercial letting in Telford for more than a decade has been completed.
HM Revenue and Customs' new lease includes 112,256 square feet of office space comprising of 13 floors across One and Two Telford Plaza.
Leases were taken on terms of nine to 10 years off an asking rent of £12.50 per square foot.
HMRC announced in November 2015 that it would bring staff together into 13 regional centres, five specialist sites and a head office in London.
Telford was announced as a location for one of its specialist sites with staff already working from the location and more staff moving in on the extra floors in July 2017.
GVA acted on behalf of the tenant, with Bulleys Bradbury acting for the landlord, Telford Plaza UK Limited, in completion of the deal.
Andrew Venables, from GVA, said: “The quality of the space Telford Plaza offers HMRC is exceptional value for money.
"This is a significant letting for the Telford market both in terms of the profile of the occupier and the space that has been transacted.
“This deal has developed from our initial instruction to acquire a single 12,053 square foot floorplate in Plaza Two and working with the landlord’s agent, Bulleys Bradbury, we were able to ensure that Telford Plaza was able to accommodate the growing requirement for high quality, cost-effective office space.”
Richard Bradbury, of Bulleys Bradbury, added: “This is an outstanding letting for the Telford market generally and for Telford Plaza specifically.
“The landlord is naturally very pleased to have an occupier of the calibre of HMRC on site and we have been working closely with GVA throughout the process.”
Mr Bradbury added: “This letting, together with further recent lettings in the building, has resulted in both Plaza One and Two now being fully let and occupied, preserving a significant number of valuable jobs in the town.”