Pictured above: Peter Doleman
Innes England has acted on behalf of Wilson Bowden Developments,
letting the largest office building within the last phase of
Meridian Business Park in Leicester.
The Midlands property consultancy has let Unit 1 at Merus Court,
which is the final part in the Meridian Business Park jigsaw, to
Jadu limited, a specialist software company providing content
management systems for government organisations.
Innes England has then successfully sold the investment to a
private family investment company for a figure in excess of
£1.1m. The purchase price reflects an initial yield of
approximately 6.7% after costs.
Merus Court comprises a development of 11 self-contained
high-quality office buildings ranging in size from 3,000 sq ft to
the largest of 8,153 sq ft, which is the unit taken by Jadu. Now
only one floor in Unit 3 totalling 2,700 sq ft and the entirety of
unit 10 at 5,034 sq ft remains available after a successful
marketing campaign.
Peter Doleman of Innes England, who acted on behalf Wilson
Bowden, says: "Meridian is a first-class strategically located
business park that has continually attracted occupier and investor
interest, even during the downturn. The letting of the largest
building to a successful local company is particularly pleasing and
proves the resilience of the local market generally.
Developer Stephen Pedrick-Moyle of Wilson Bowden says: "We are
delighted that Jadu decided to locate to Merus Court. Over the last
12 months we have secured occupiers for some 27,000 sq ft of office
accommodation which only goes to show the quality of both the
location and buildings themselves."
Richard Friend of Jadu says: "Merus Court is the ideal location
for Jadu's global headquarters, which we have now named 'Universe
House'. We needed a significant amount of space but good access for
our employees and customers, which this building had. The area
surrounding the offices is also landscaped to a high standard,
which reflects the culture of Jadu. We are an 'Investor in People'
organisation and these offices are a symbol of our commitment to
making the best web applications in the World."
Innes England is joint agent with Lambert Smith-Hampton and
Mather Jamie on the scheme.