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07 May 2015

Becket House Sold to Owner Occupier

Becket House has now been sold. The purchasers are a Dartford Based companywho will be occupying the building as their new HQ and will take up occupation when existing leases in the building expire at the end of this year. Becket House is a three storey office block on the edge of the Vestry Industrial Estate, close to Sainsbury’s on the Otford Road and was originally built in the early 1960’s. Totalling just over 40,000 sq. ft. and with a very good car parking provision, the building was offered to the market in March and following a comprehensive marketing programme by the joint agents, a dozen or so formal offers were received. The guide price was offered at just below £4M and the purchasers are understood to have paid in excess of this figure although the agents would not be drawn on the actual amount paid.

“The sale of Becket House is a culmination of our longstanding excellent working relationship with BlackRock”, commented Mike Lewis, founding partner of MICHAEL ROGERS LLP who celebrate their 25th anniversary this year. “We have been tenants of the building since the late 1990’s and maintain an active role in the marketing of the Vestry Industrial Estate which BlackRock have retained and where construction of a new trade counter development is under way with a number of pre-lets having been negotiated by our industrial team”, says Lewis.

“The office market has recently seen a complete turn-around from the dark days of the depression. With shortages of decent quality office accommodation now being witnessed throughout the region coupled with the loss of some buildings to the residential sector (such as Tubs Hill House in Sevenoaks, Title House in Bromley etc.) and the improvement in the economy generally, it will come as no surprise that we are now witnessing, at last, rental growth. Indeed, prime office accommodation in the region has now reached £25 per sq. ft. and there are clear indications that this growth will now continue as the economy continues to improve.”

“As a Chartered Surveyor who has been working in the office and business space market for over 30 years, I have recently become very concerned at the growth of the residential sector at the expense of the business sector with the loss of (some very good) office buildings which are being converted into flats due to the introduction of Permitted Development rights where the owners do not need to obtain formal planning consent for change of use. On this occasion, we received a good level of response from commercial occupiers/investors as well as residential developers and at the end of the day, it was an office occupier who secured the building following the bidding process.”, commented Mike Lewis, founding partner of MICHAEL ROGERS LLP, Chartered Surveyors (established originally in Sevenoaks and London in 1990) who provide a comprehensive commercial property advisory service across the southern M25 corridor from their offices in Sevenoaks, Reigate and Richmond.

MICHAEL ROGERS LLP were joint selling agents along with Hurst Warne. The purchasers were represented by GVA.

For further information please contact Mike Lewis at MICHAEL ROGERS LLP on 01732 740000 or by email: mike.lewis@michaelrogers.co.uk


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