Acting for the assignor of Warwick House, Virgin Atlantic Airways Limited, Lambert Smith Hampton negotiated an assignment of lease to Canonbury for £120,000 per annum.
Canonbury has been based in Brackley for many years and is relocating to Warwick House as part of its exciting expansion plan, involving the creation of local jobs as the current work force of 40 full time staff is expected to grow in the future.
John Greaves, Director of Industrial and Logistics Agency for Lambert Smith Hampton explains: “In demonstration of the industrial growth that is taking place in Brackley at present, this lease assignment represented the largest industrial lettings deal in 2014. We are now seeing a shortage of this quality and size of industrial space in the area and I’m expecting that this will encourage new development to take place.”
Clive Thompson, Partner of Brown & Co Berry Morris, who advised Canonbury on their move to new premises comments: “Canonbury had planned well in advance of their lease break point on their existing premises and options to move away from Brackley were rejected early on as many staff were located nearby and the business recognised the area enjoyed excellent communications. Warwick House doubles the size of their previous building and secures local jobs and will allow expansion within the town with further employment opportunities over the next few years. This is an important move for Canonbury, significant within the town and a demonstration of another company’s faith in the growth and prosperity of Brackley.”