Telereal Trillium has secured the letting of Antonine House, Callendar Business Park, Falkirk to BP Exploration Operating Co. Ltd. The deal is one of the 10 largest office lettings in Scotland in the last 12 months and is the largest in Falkirk for almost 20 years.
Acting on behalf of Telereal Trillium, Lambert Smith Hampton (LSH) secured the deal with BP Exploration to occupy the 3 storey building totalling 36,600 sq ft, on an eleven year fixed term lease, at an annual rental equating to £11.00 per sq ft.
Ian Davidson, Associate Director, LSH said, “This is the largest office deal in Falkirk for almost two decades and one of the largest in the country this year . Securing a long term lease commitment at a strong rental level from a tenant with such a substantial covenant illustrates that the upper end of the market remains active.”
Alex Lambert, Development and Disposals Manager, Telereal Trillium commented “This is a substantial letting within our Scottish Portfolio and we are delighted to be welcoming BP as a tenant to Callendar Business Park.”
BP Exploration is re-locating to Antonine House from a number of other smaller office units in the area.
DM Hall were Joint letting agents for Antonine House,. The Agent representing BP Exploration Operating Co. Ltd was Gerald Eve LLP. Sven Macaulay, Partner, Gerald Eve said ‘We are delighted to have secured premises on behalf of BP Exploration which provides a centralised facility for our clients. When the building became available we quickly identified this as being an opportunity to consolidate a number of our client’s offices within the area and this will be of benefit going forward, particularly from an operational point of view’
A spokesman for BP said “This is a positive step forward that allows us to consolidate and upgrade our office facilities, and underlines our long term commitment to the area.”