Picton lets Bracknell industrial unit to damage restoration firm

Real estate investor Picton has let Unit 2 Zenith on Downmill Road, Bracknell to Richfords Fire and Flood.

A damage restoration specialist based in Cornwall, Richfords will be using the 22,205 sq ft unit as additional premises to serve clients in London and the South East.

It has signed a 15-year lease at a headline rent of £15.50 per sq ft.

The detached building, with two-level access loading doors and two-storey offices to the front, was speculatively refurbished by Picton and converted back from a data centre to an open plan warehouse.

It now includes solar panel arrays and electric vehicle charging points.

Picton was advised on the deal by Haslams and Colliers.

Ed Ponting of Haslams said: “The letting to Richfords demonstrates the merit in landlords undertaking high-quality speculative refurbishments, as occupiers continue to prefer prime buildings in the industrial sector.

“Picton was able to undertake extensive works to deliver a ‘like new’ building with top environmental credentials.

“A decisive approach by the landlord team with no corners cut has resulted in a great deal within a limited void period.”

Tim Hamlin, director of asset management at Picton, added: “Sustainability and repurposing is a core focus for Picton, so being able to refurbish Zenith to the highest of standards forms part of our company-wide strategy that we’ve also employed in offices.

“We’re delighted to welcome Richfords to the building and hope they’ll have many productive years there.”