What's Happening?
Flude Property Consultants has successfully leased 25,000 square feet of Grade A office space at Hove Central, marking the largest office deal in Brighton and Hove in recent years. This significant transaction involves a global consultancy firm signing a 10-year lease for the entire Block A, with an option to extend to 20 years. The offices are part of a mixed-use development by Apache Capital and KKR on the former Sackville Trading Estate. Despite a subdued market, this deal highlights the willingness of occupiers with long-term requirements to commit to the area when the quality, scale, and connectivity of the accommodation meet their needs. Flude Property Consultants, a regional firm with over 25 years of experience, continues to offer a range
of real estate services across the South Coast.
Why It's Important?
This landmark office lease is a positive indicator for the commercial property market in Brighton and Hove, suggesting a potential recovery or stabilization despite broader market challenges. The commitment by a global consultancy firm to a long-term lease reflects confidence in the area's economic prospects and the quality of the development. This deal could encourage further investment and development in the region, benefiting local businesses and the economy. It also sets a new rental benchmark for the area, potentially influencing future transactions and valuations.
What's Next?
The successful lease at Hove Central may prompt other businesses to consider similar commitments, potentially leading to increased demand for high-quality office spaces in the region. Flude Property Consultants still has additional spaces available, primarily targeting the SME market, which could see increased interest following this high-profile deal. The firm will likely continue to leverage its expertise to attract more tenants and investors, further contributing to the area's economic growth.
