Active management rapidly pays off at Delta

November 21, 2008

Following their acquisition of Delta 200 in February 2008, Argyll Ventures Ltd has successfully concluded, a series of inter-related transactions within the building, culminating in the successful letting of the entire ground floor totaling 15,500 sq ft to Dialog Semi-Conductors Ltd.
Delta 200 is recognized as a landmark building within one of Swindon’s premier office locations, and other occupiers on the estate include Intergraph UK Ltd, the Secretary of State for the Environment and Reckitt Benckiser UK Ltd.
Gary Leigh for Argyll Ventures Ltd commented: “This was a particularly complicated series of transactions, which we are delighted to have successfully concluded in such turbulent economic times.”
In order to undertake the letting to Dialog, Argyll Ventures Ltd had to negotiate two lease surrenders, together with lease re-gearings and internal relocations of five separate tenants, which then opened up the possibility of a completely vacant ground floor.
Dialog has taken a twelve year lease incorporating a six year break clause at a rent equating to £16 per sq ft – a new rental level established, for the local area, and the letting ends a three year search by the occupier.
Argyll Ventures Ltd will be undertaking a refurbishment of the ground floor, and occupation is expected at the end of 2008. Two 1,000 sq ft suites remain available within the 31,000 sq ft building.
Whitmarsh Lockhart introduced the occupier to Argyll Ventures Ltd, whilst King Sturge represented Dialog.

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