February 2014 - VSL announce further deal at Northbrook
Patent and trade mark attorney firm J A Kemp is expanding at Oxford Science Park through a deal secured by VSL and Partners for Northbrook House meaning the 24,000 sq ft building has been fully let in just five years assisted by innovative marketing campaigns including bike giveaways to all occupier employees in addition to puncture repair kits, bell and leg clips mailings.
Ranked in tier 1 by The Legal 500, J A Kemp has committed to a ten-year lease for an additional 3,500 sq ft of fully refurbished Grade A office space to complement its existing office at Northbrook House. The firm now leases a total of 7,000 sq ft which will further facilitate their ongoing expansion plans.
“We took a new approach when marketing this building by combining Oxford’s passion for cycling with the green transport initiative to offer free bikes to new tenants. It has even become known as the bicycle building!” comments Richard Venables of VSL & Partners.
Richard goes onto say: “We have now fully let Northbrook House comprising 24,000 sq ft within a five year period which has increased the property asset value resulting in a £5.294 million investment sale to a London Investor. This transaction represents a 7.7% yield and highlights the ongoing strength and increased appetite for investors in the Oxford commercial property market. This is further underlined by CoStar Analytics figures published on 28th January 2014 that states the total sum of property invested in Oxford from 2012 through to Q3 of 2013 is £55 million comprising six investment transactions in that period.”
J A Kemp are currently occupying 5,200 sq ft of their Northbrook House accommodation and has instructed VSL to sub let the remaining 1,800 sq ft surplus Grade A accommodation.
J A Kemp is one of the largest UK and European Trade Mark attorney firms with over 50 science and technology graduates in the firm including at least 25 PhDs.
Back to article list