Bracknell: Eli Lilly signs for HQ building in biggest letting in seven years

CCLA and Fiducia Property Asset Management have completed the largest office letting in Bracknell for seven years, signing US pharmaceuticals giant Eli Lilly for all of the 42,500 sq ft 8 Arlington Square West.

Market sources suggested the group has signed a 10-year lease and would pay close to £30 per sq ft, which would be a new headline rent in the South East town, as well as being a significant shot in the arm for the region’s occupational market as participants look for evidence of the impact of the coronavirus on moves.

The building underwent a comprehensive refurbishment that completed in November of last year and is reportedly the only prime office building in Bracknell able to offer more than 15,000 sq ft of contiguous space.

The deal is the largest in Bracknell since Honda’s move to Commercial Estate Group’s Reflex in 2013.

CCLA and Fiducia are pressing on with the development of 7 Arlington Square West, a 65,000 sq ft adjoining office which will be completed in the final quarter of this year.

Hollis Hockley and Colliers International advise CCLA and Fiducia Property Asset Management.

Source: CoStar