Following on from their successful investment in Swindon’s Parade Shopping Centre, UK Commercial Property Trust (UKCPT), advised by Ignis Real Estate and their development managers Shearer Property Group, are turning their attention to the office market in the town. Plans are being worked up for a major redevelopment of New Falcon House located on Fleming Way.
Formerly the home of Zurich, the 1960s built Falcon House has been unoccupied for a number of years, but with its central location and onsite parking, Robert Boag, of Ignis Real Estate, believes now is the right time to move the project forward.
“We have plans for a complete refurbishment of New Falcon House, providing 45,000 sq ft of Grade A quality office space. We are now looking to secure a pre-let either for the entire space or for individual floors of 7,500 sq ft.
”We purchased The Parade in 2005 and we are now on site with Swindon’s first major retail development in ten years. Pre-lets have been secured with BHS, Topshop and River Island. The refurbishment of New Falcon House is an integral part of our vision to transform this corner of the town centre.”
UKCPT has appointed GVA Grimley as offices agents on the scheme, and Leslie Jones Architects have worked on plans for the striking refurbishment, which will bring the building to a BREAAM Very Good standard.
Ben O’Connor, head of office agency at GVA Grimley in Bristol, added: “We are quoting a rent of £18.50 psf, so this is an excellent opportunity for an occupier looking for a central location to get excellent refurbished space with onsite parking for more than 150 cars. With eyes on Swindon as a focal point for public sector relocation, we believe there is great potential in New Falcon House.”
Plans for the improvements at New Falcon House include a new glazed façade and entrance canopy, raised access floors, chilled beam air conditioning, and convenient access to the parking facilities.
Adam Markwell of Shearer Property Group commented: “This continued investment demonstrates that confidence in Swindon remains strong, and we are optimistic that the success we have witnessed with our retail occupiers at The Parade will be replicated at New Falcon House.”
