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Pre-Letting of 2,140 sq.m (23,000 sq ft) Office Building in Chertsey, Surrey to the Gartner Group

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15 June 1997

Gartner has taken a pre-letting of the entire building on a new 25 year lease with 15 year break, at a rental of £500,000 per annum. Gartner will commence fitting out immediately with a view to being in occupation by the end of June.

Cranmer House, with a book value of £6.4m, is the first phase of Countryside’s £70m "Chertsey Opportunity" Revitalisation Initiative being undertaken in conjunction with Runnymede Borough Council on some 10 acres close to the town centre and railway station. Construction has recently commenced on the next phase of the development, Rutherwyk House, a new 1,060 sq.m (11,401 sq. ft) office building, which Countryside has forward-funded with BZW Property Investment Management Limited. This building will be available for occupation in March 1998.

Mark Chatham, Sales and Marketing Director of Countryside’s commercial property subsidiary said "The Chertsey Opportunity project is now gaining real momentum. We are delighted that Cranmer House has been pre-let to a tenant of the calibre of The Gartner Group and had several other tenants keen to acquire the building. Rutherwyk House is now under construction, and we are already drawing up proposals for three other buildings within the scheme. The traditional design and quality of these new buildings, together with their town centre location and generous car parking provision sets "The Chertsey Opportunity" apart from other projects in the western sector of the M25".

Richard Ellis, Holley Blake and Michael Le Gray acted for Countryside and Standard Life. The Gartner Group were represented by Healey & Baker.

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Information correct as at 15/06/1997