Xhas now been added to your account
CONTINUE BROWSINGGO TO MY ACCOUNT
Office News
Pentagon House is a high profile modern office building located in central Derby. The offices are situated in a highly prominent position just off the A52 at Pentagon Island, fronting both Sir Frank Whittle Road and Stores Road. The A52 and A61 provide excellent access around the city, the M1 and Junction 25 and the A38.
The building itself comprises an impressive four storey property extending to approximately 30,000ft² and provides newly refurbished office accommodation with a modern reception and excellent parking.
During the past twelve months, there has been excellent take up within the building, with some 21,500ft2 being let. This comprises three key deals, the most recent completing in July, where 12,674ft² has been let. Not only is this one the largest lettings in Derby this year, but we have also seen a rental uplift of 10% to a headline figure £15.50 per ft2.
Mark Roberts of Loxton Developments who own the building comments:
“Some 24 months ago we were hit by a number of lease expiries which coincided with the pandemic resulting in large voids at Pentagon House. It was time to invest in the building and we have not only refurbished all the vacant suites to a high level but we have also invested in the building installing new atrium glazing and EV charging points for our tenants. I am pleased to welcome our new tenants to the building and I wish them every success.”
Darran Severn of FHP Property Consultants comments:
“There has been good office demand in Derby throughout the first half of 2023 which is evident by the success at Pentagon House. The majority of space within in the city is being let to existing Derby businesses who are either downsizing, upsizing or generally looking to improve the quality of their space.”
Nick Hosking of Innes England comments:
“Pentagon House has held a long standing reputation of offering the best quality multi-let office accommodation within Derby and it’s been pleasing to see that the recent capital investment into the building has re-enforced this position. The recent lettings have highlighted the continued demand for premium quality office space and we expect to see continued healthy demand for the remaining suites going forward.”
If you are currently seeking office space in Derby, there are a couple of suites remaining at Pentagon House ranging in size from 3,747ft² to 8,592ft².
For further information, please contact joint agents Darran Severn of FHP Property Consultants on 07917 460 031 / darran@fhp.co.uk or Nick Hosking of Innes England on 07855 423458 / nhosking@innes-england.com.
ENDS
July 2023