Croydon’s appeal as an office location continues to buck the trend with public sector business process operators Liberata and the British Medical Association moving to refurbished offices in the town.
Liberata is paying a rent of £23.50 per square feet for 7,000 sq ft in Knollys House, a few moments’ walk from East Croydon station, which along with neighbouring Stephenson House has recently undergone major improvement work.
The British Medical Association are also new tenants at Knollys House, having taken around 2,000 sq ft of the sixth floor to the British Medical Association at a rent equating to £26 per square foot.
Savills were agents for both deals which saw the organisations choose to remain in Croydon having moved from other locations in the town.
Oliver Meyers, chartered surveyor for Savills, said: “The recent lettings to Liberata and BMA at Knollys and Stephenson House, which is owned by the UBS Triton Property Fund, are a testament to the offices’ high quality specification and excellent value”.
“The Croydon office market continues to perform well amidst a period of relative inertia in the wider market, with more than 100,000 sq ft of occupier requirements in the second half of 2017 alone.”