Stiles Harrold Williams - Offices Letting - Croydon, Sydenham Road, Metro Point Building

Date: 19 Apr 2002

Taylor Woodrow and Palace Street Developments have jointly announced that their 3,762 sq m (40,500 sq ft) Metro Point building in Sydenham Road, Croydon, Surrey, has been fully let within only days of its practical completion.

The building has been acquired as a whole by the Home Office on a new lease for 18-years at a rent of £215.28 per sq m (£20 per sq ft).

James Henderson, director at Taylor Woodrow, said: “We are pleased to have completed the letting of this speculative building and we now plan to sell the investment. We will then look to inject the capital back into business opportunities around the M25 including Croydon, which we see as a centre for growth.”

Built on a speculative basis, Metro Point is Croydon’s only new development in excess of 1,393 sq m (15,000 sq ft) to have been undertaken in the last 10 years.

The developer, along with the architects Rolfe Judd, has designed the scheme to represent a new, higher standard of office accommodation for what is an increasingly popular business centre for Greater London.

Located in the heart of the central business area and close to East Croydon station with its links to Victoria and Gatwick, Metro Point, prior to the deal with the Home Office, had already attracted considerable interest from occupiers in Croydon seeking to upgrade the quality of existing space, and from occupiers considering de-centralisation from Central London to take advantage of more competitive costs.

Taylor Woodrow and Palace Street were represented by Stiles Harrold Williams and Knight Frank, and The Home Office by Lambert Smith Hampton.

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