Mercer Real Estate purchased the 85,626 sq ft building in June 2014 and undertook various improvements including a refurbishment of the large atrium reception. The building is now 90% let, with just 8,778 sq ft remaining.
Sally Salon Services is a global company, grown from one small store in 1964 in New Orleans into the world’s largest distributor of professional hair and beauty products, with over 4,000 stores worldwide and around 260 stores in the UK.
Inspired is located within Bracknell town centre, close to The Peel Shopping Centre and a short walk from the train station. A new shopping centre, The Lexicon, is currently being built for delivery in 2017 and includes pre-lets to Fenwick, Marks & Spencer, Carluccios, Wagamama, Pizza Express and a 12 screen Cineworld.
Tom Fletcher, Head of Lambert Smith Hampton Reading, who acted for Sally Salon Services said: “Sally Salon Services was seeking a single floor plate with an on-site cafe amenity and the opportunity to invest in and create a modern agile workplace for the long term business."
Jo Finch, Finance Director at Sally Salon Services added: “These are exciting times for the company. We are investing in our staff and working environment so that our business and ultimately our customers will benefit from ever improving quality and pricing. Inspired offers us the opportunity to deliver a much improved working environment and the wider benefits that will roll out from such a move”.
Alex Hardwick, from Mercer Real Estate Partners, explains: “We are delighted that our decision to invest in Inspired has paid off. The timing of our purchase was key, with rents in Bracknell now rising and incentives shortening. We still offer a discount to prime rents and yet offer an impressive atrium, Costa coffee branded café and central location. We look forward to welcoming Sally Salon Services to the building.”
LSH and JLL acted for Mercer Real Estate. LSH acted for Sally Salon Services on this acquisition and is providing ongoing fit-out building consultancy advice.