Capita signs for Grange Park space
By David Wood | 13th October 2023
Business services provider Capita has signed for newly refurbished office space at the Gloucestershire business location Grange Park.
The deal takes total new lettings at the green 'people first' campus beyond 55,000 square feet.
It is believed that in the past 12 months more office space has now been let at Grange Park than in the whole of Cheltenham town centre.
Capita has taken on a five-year lease for 8,600 sq ft on the first floor of The Grange, the centrepiece office building on the 14 acre parkland project currently seeing multi-million pound improvements.
The 185,000 sq ft campus on the A435 at Bishop's Cleeve had previously achieved a new letting to insurance business Polo Works and attracted the flexible workspace provider Regus.
The green site is being reimagined as a mixed use campus where staff and visitors can work, relax and exercise amid mature trees in parkland. Its main building, The Grange, has achieved an exceptional Energy Performance Certificate (EPC) rating of A.
Capita's new lease means the first phase of reimagined space at Grange Park, including a new entrance, concierge style reception and atrium, is now fully let or under offer.
Plans for the second phase are underway and include a further 25,000 sq ft of office space, new shower and changing facilities, and additional electric vehicle charging points.
Richard Crabb, of joint agent THP, said: "Grange Park has always been a great site with modern accommodation within extensive grounds. The redevelopment demonstrates a real commitment to the future and the market is responding."
Ian Wills, of joint agent JLL, said: "The Capita deal shows how business confidence is improving. UK office occupancy levels are increasing quarter-on-quarter and employers have the confidence to commit to space.
"However, when they do it needs to look great, have parking, a bus service and be energy efficient. Grange Park has all of that and at a big discount to the town centre."
Grange Park is well connected by road to Cheltenham and the M5's junction nine. Bus services stop on the site which is just three miles from Cheltenham town centre.
Rents at Grange Park are up to 50% less than equivalent space in the town centre. And The Grange's 60,000 sq ft floor plates are some of the largest in the South West.
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